Hakola, Tuulia; Uusitalo, Roope - Valtion taloudellinen tutkimuskeskus (VATT), Government … - 2001
Literature on early retirement has generally ignored firms' role in the labour market withdrawals. Yet, as it is shown in this paper, employee incentives alone cannot explain the increase in unemployment at the end of the career. Instead, we construct an implicit contracts model where we account...