undergoing fundamental reforms in many Western countries. Starting with cohort 1937, Germany introduced permanent pension … deductions for early retirement. This paper examines the evolution of the profitability of pension contributions against the … background of this reform for cohorts 1935-1945. I measure the profitability with the internal rate of return (IRR) and use high …

effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ …In aging societies, information on how to reform pension systems is essential to policy makers. This study scrutinizes … retirement model. We find that labor market participation and retirement behavior in general are strongly influenced by the level …

close to retirement. The age pattern is partly explained by the positive effect of pension wealth on disability pensions … reform-induced variation of pension wealth that is related to the number of children but which does not affect the implicit …

close to retirement. The age pattern is partly explained by the positive effect of pension wealth on disability pensions … reform-induced variation of pension wealth that is related to the number of children but which does not affect the implicit …

system. The cohort effect, by contrast, results in winners and losers in PAYG systems. Taking Germany as an example and using …

This study analyzes the causal effect of an increase in the retirement age on health. We exploit a sizable cohort …-specific pension reform for women using two complementary empirical approaches - a Regression Discontinuity Design and a Difference …-in-Differences approach. The analysis is based on official records covering all individuals insured by the public health system in Germany and …

We evaluate the labor market and distributional effects of an increase in the early retirement age (ERA) from 60 to 63 …

normal retirement age in Germany did not prolong employment of older men. The reason for this surprising result is that …This paper shows that increasing the normal retirement age and introducing pension deductions for retirement before … employers encouraged their employees to use the bridge options unemployment or partial retirement instead of the early …

Early retirement options are usually targeted at employees at risk of not reaching their regular retirement age in … particularly negatively affected by the abolition of early retirement options. To measure differences in labor market reactions of … employees in low‐ and high‐demand jobs, we exploit the quasi‐natural experiment of a cohort‐specific pension reform that …

subsidization program in Germany. We find that 38% of the aggregate subsidy accrues to the top two deciles of the population, but …