until 2050. To quantify the effects on pensions, taxes and social contributions, we use an overlapping generations model …-the-job training. A passive fiscal strategy would be very costly. A comprehensive reform, including an increase in the effective …

.g., to pension and labor market reform. This paper sheds light on such reactions in three large Continental European … countries. France, Germany, and Italy have large pay-as-you-go pension systems and vulnerable labor markets. At the same time …, these countries show remarkable resistance against pension and labor market reform. Key issues taken up in this paper are …

We investigate the unemployment pathway to retirement in Germany and study the causal effects of two early retirement … reforms. Reform 1 (NRA) increased normal retirement age stepwise from 60 to 65. Simultaneously, it became possible to use … early retirement with benefit discounts. Reform 2 (ERA) increased the age of early retirement stepwise from 60 to 63. We …

We investigate the unemployment pathway to retirement in Germany and study the causal effects of two early retirement … reforms. Reform 1 (NRA) increased normal retirement age stepwise from 60 to 65. Simultaneously, it became possible to use … early retirement with benefit discounts. Reform 2 (ERA) increased the age of early retirement stepwise from 60 to 63. We …