We examine the labour supply response of senior doctors in England following a reform of the public sector pension system that moved employees from a final salary to a career average pension plan. Exploiting the staggered rollout of the reform across narrowly defined age groups, we find that...

The main objective of this paper is to estimate labour supply effects of an early retirement programme in Norway. Detailed administrative data are employed in order to characterize full paths towards retirement and account for substitution from other exit routes, such as unemployment and...

In France over the last fifteen years two important reforms in the basic pension systems (1993 and 2003) were made and numerous measures concerning the legal supplementary benefits systems were put into effect. Contrary to other countries, the role of the pay-as-you-go system as the main pension...

The main objective of this paper is to estimate labour supply effects of an early retirement programme in Norway. Detailed administrative data are employed in order to characterize full paths towards retirement and account for substitution from other exit routes, such as unemployment and...

The main objective of this paper is to estimate labour supply effects of an early retirement programme in Norway. Detailed administrative data are employed in order to characterise full paths towards retirement and account for substitution from other exit routes, such as unemployment and...

In earlier literature, the suggested Pareto improvements in pay-as-you-go (PAYG) systems have relied on the presence of externalities or the possibility of intragenerational redistribution. We show that neither assumption is necessary in an economy with intergenerational trade in a fixed factor...

Using a heterogeneous-agent, life-cycle model of Social Security claiming, labor supply and saving, we consider the implications of lifespan inequality for Social Security reform. Quantitative experiments show that welfare is maximized when baseline benefits are independent of lifetime earnings,...

As many governments raise eligibility ages for retirement benefits, there are concerns that such reforms disproportionately affect poorer households. In this paper, I examine the distributional effects of a 1994 Australian reform that increased women’s pension-eligibility age from 60 to 65....

In order to study whether public pension systems displace private saving, we use the quasi-experimental variation in pension wealth created by Poland's 1999 pension reform. Using the 1997-2003 Polish Household Budget Surveys, we begin by estimating “difference-in-differences” regressions,...

This paper quantifies the effect of Poland’s 1999 pension reform on the inequality of future pension benefits. The reform increases inequality, both in the upper and in the lower parts of the distribution. The estimates, based on the 2012 Polish Household Budget Survey, show that the Gini...