Aging populations have led many European countries to make an effort to increase the effective retirement age and keep workers longer in the labor force. An increase in the retirement age does not necessarily lead to a rise in the employment rate of older workers, as many could remain...

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

We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by purposeful research and development. In contrast to economies in which growth depends on learning-by-doing spillovers, raising the retirement age fosters economic growth. How...

This paper presents a life-cycle model with human capital investment during working life through training and provides a novel empirical test of human capital theory. We exploit a sizable pension reform across adjacent cohorts in a regression discontinuity setting and find that an increase in...

We study the effects of public pension systems on the retirement timing of older workers and, in turn, the health consequences of delaying retirement by those workers. Causal inference relies on a social security reform in Israel that shifted payments from husbands to their (non-working) wives,...

We study the labor supply effects and welfare implications of introducing a universal means-tested old-age assistance program in times of very limited social protection. We take advantage of a unique historical reform: The Old-Age Pension Act (OPA) of 1908, which, for the first time, provided...

Retired parents might invest time into their adult children by providing childcare. Such intergenerational time transfers can have important implications for family decisions. This paper estimates the effects of parental retirement on adult children's fertility. We use representative panel data...

We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by purposeful research and development. In contrast to economies in which growth depends on learning-by-doing spillovers, raising the retirement age fosters economic growth. How...

Due to the COVID-19 crisis and the related "social distancing" measures, working from home (WfH) has suddenly become a crucial lever of economic activity. This paper combines survey and administrative data to compute measures for the feasibility of working from home among German employees....

Aging populations have led many European countries to make an effort to increase the effective retirement age and keep workers longer in the labor force. An increase in the retirement age does not necessarily lead to a rise in the employment rate of older workers, as many could remain...

In this paper, we investigate health and aging before and after retirement for specific occupational groups. We use five waves of the Survey of Health, Aging, and Retirement in Europe (SHARE) dataset and construct a frailty index for elderly men and women from 10 European countries. We classify...

This paper develops a new combined-wealth measure by augmenting data on net worth from the Survey of Consumer Finances with estimates of defined benefit (DB) pension and expected Social Security wealth. We use this concept to explore retirement preparation among two groups of households in...

Adult education can mitigate the productivity decline in aging societies if older workers are willing to learn. We examine a generous partial retirement reform in Germany that led to a massive increase in early retirement. Using county-level administrative data on voluntary education activities,...

Adult education can mitigate the productivity decline in aging societies if older workers are willing to learn. We examine a generous partial retirement reform in Germany that led to a massive increase in early retirement. Using county-level administrative data on voluntary education activities,...

Adult education can mitigate the productivity decline in aging societies if older workers are willing to learn. We examine a generous partial retirement reform in Germany that led to a massive increase in early retirement. Using county-level administrative data on voluntary education activities,...

Many defined-benefit pension systems in developed and developing countries use a small set of final years of earnings to compute pension benefits. This provides dynamic incentives to report higher earnings in the final years of the career. In this paper, we document the responses of...

Retired parents might invest time into their adult children by providing childcare. Such intergenerational time transfers can have important implications for family decisions. This paper estimates the effects of parental retirement on adult children's fertility. We use representative panel data...

We exploit a unique Swiss reform to identify the importance of passivity, claiming social security benefits at the Full Retirement Age (FRA). Sharp discontinuities generated by the reform reveal that raising the FRA while imposing small early claiming penalties significantly delays pension...

Reducing the eligibility age for pension benefits is considered by many as a policy that will discourage labor supply by mature workers. This paper analyzes a recent Norwegian pension reform which effectively lowered the eligibility age of retirement from 67 to 62 for a group of workers. For the...

The Lithuanian population is aging, and it causes many difficulties for public finances by increasing expenditures on health care, long-term care, and pensions, and also for the labor market by creating labor shortages. One of the ways to cope with demographic aging is to rise the employment...

The phased implementation of the minimum mandatory retirement age (60) from 2016 has expanded the employment of older workers (55-60) but reduced that of young workers (15-29). The negative effect has been particularly pronounced at large companies or firms with a previously low official...

We analyse the pattern of work and other labour market states, such as unemployment and out-of-labour-force, over the life course, by making use of a long retrospective panel of older Europeans. Based on stochastic simulations of a reduced form transition probability model, we document to what...

The share of workers who are self-employed rises markedly with age. Given policy concerns about inadequate retirement savings, especially among those with lower education, and the resulting interest in encouraging employment at older ages, it is important to understand the role that...

The size of the public sector in terms of employment and compensation has a strong life-cycle dimension. We establish a quantitative partial-equilibrium life-cycle model with incomplete markets, private and public sectors, and risk-averse workers, and use it to (i) calculate three dimensions of...

We provide empirical evidence that the removal of work disincentives embedded in retirement earnings tests can increase old-age labor supply considerably, but it does so at the cost of more income inequality. Causal effects are identified based on a reform of the Norwegian early retirement...

Purpose - The purpose of this paper is to analyze the conceptual framework about human resources downsizing and restructuring and how organizations of the public sector can do that effectively and efficiently. These facts drive to the conclusion that the implementation of early retirement...

This paper shows how the effective retirement age rose in eight countries of Central and Eastern Europe (Estonia, Latvia, Lithuania, Poland, the Czech Republic, Slovakia, Hungary, and Slovenia) between the mid-1990s and the mid-2010s. It finds that the increase was fast enough to keep life...

In this paper, we analyse the effects of demographic change on a PAYG pension system, financed with a defined contribution scheme. In particular we examine the relationship between retirement, fertility and pensions in a three-period overlapping generations model. We focus on both the case of...

Life Insurance Retirement Plans (LIRPs) offer tax-deferred cash value accumulation, tax-free withdrawals (if properly structured), and a tax-free death benefit to beneficiaries. Thus, LIRPs share many of the tax advantages of other retirement savings vehicles but with less restrictive...

Behavioral economics has become a dominant set of theories in explaining economic behavior, yet such behavior remains under the limited purview of psychological, cognitive, or neural approaches. This article draws on and extends Viviana Zelizer's social meaning of money framework in conjunction...

This three-wave study analyses the mediating role of financial behavior in the relationship between financial goals and retirement saving adequacy, and the moderating role of Death anxiety. The participants in the study (N = 276) were 40-plus Spanish clients of financial advisory firms. The...