| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5593 |
| DP5593 On-The-Job Search, Productivity Shocks and the Individual Earnings Process | |
| Hélène Turon; Fabien Postel-Vinay | |
| 发表日期 | 2006-03-29 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | In the early 1990s, the Dutch social partners agreed upon transforming the generous and actuarially unfair PAYG early retirement schemes into less generous and actuarially fair capital funded schemes. The starting dates of the transitional arrangements varied by industry sector. In this study, we exploit the variation in starting dates to estimate the causal impact of the policy reform on early retirement behaviour. We use a large administrative dataset, the Dutch Income Panel 1989-2000, to estimate hazard rate models for early retirement. We conclude that the policy reform induced workers to postpone early retirement. In particular, both the price effect (reducing implicit taxes) and the wealth effect (reducing early retirement wealth) are shown to have a positive impact on the early retirement age. Yet, we show that model specifications including the most commonly used financial incentive measures are open to further improvements, given that these are outperformed by a simple specification with dummy variables. |
| 主题 | Labour Economics |
| 关键词 | Early retirement Intertemporal choice Duration analysis |
| URL | https://cepr.org/publications/dp5593 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534446 |
| 推荐引用方式 GB/T 7714 | Hélène Turon,Fabien Postel-Vinay. DP5593 On-The-Job Search, Productivity Shocks and the Individual Earnings Process. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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