This paper analyzes behavioral responses to a 2014 reform in the German public pension system that lowered the full … retirement age (FRA) of individuals with a long contribution history by up to two years and framed the new FRA as reference age … for retirement. Using administrative data from public pension insurance accounts, we first document a substantial bunching …

This paper analyzes behavioral responses to a 2014 reform in the German public pension system that lowered the full … retirement age (FRA) of individuals with a long contribution history by up to two years and framed the new FRA as reference age … for retirement. Using administrative data from public pension insurance accounts, we first document a substantial bunching …

document that the pension reform leads to a postponement of retirement, an increase in employment and a shifting in …In this paper we exploit a cohort-specific pension reform to estimate the causal labour market effects of changes in …-specific deductions for early retirement on female retirement, employment and unemployment. For the empirical analysis we use high …

Germany does not help to improve its fiscal sustainability, and only an increase in the retirement age to 70 years will help …We present new empirical evidence on the distribution of earnings, income and wealth among entrepreneurs in Germany. We …-scale overlapping-generations model that can replicate these findings. As an application, we compute the equilibrium effects of a reform …

Germany does not help to improve its fiscal sustainability, and only an increase in the retirement age to 70 years will help …We present new empirical evidence on the distribution of earnings, income and wealth among entrepreneurs in Germany. We …-scale overlapping-generations model that can replicate these findings. As an application, we compute the equilibrium effects of a reform …

In a large online experiment, we relate the retirement timing decision to the disparity between the willingness … order to delay retirement is elicited. Our results reveal that the framing of the decision problem strongly influences … participants' reservation price for early retirement. The willingness-to-accept for early retirement is more than twice as high as …

We present a theory of the relation between health and retirement that generates testable predictions regarding the … interaction of health, wealth and financial incentives in retirement decisions. The theory predicts (i) that wealthier individuals … problems make older workers more responsive to financial incentives encouraging retirement (reinforcement proposition). We test …

We are interested in defining the optimal retirement age by socio-economic class, given a Defined Benefit and a …. Therefore, we provide an alternative based on two accounts. We look for the retirement age allowing the accumulated value, at … the last age with survivors, of the pensions received under each system, held in one account, to be close in value to the …