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来源类型Working Paper
规范类型报告
DOI10.3386/w25261
来源IDWorking Paper 25261
A Lifetime of Changes: State Pensions and Work Incentives at Older Ages in the UK, 1948-2018
James Banks; Carl Emmerson
发表日期2018-11-19
出版年2018
语种英语
摘要We describe the history of state pension policy in the UK since 1948 and calculate summary measures of the generosity of the system over time and the degree to which the it created implicit taxes on, or subsidies to, work at older ages. The time series of these measures, calculated separately for ’example-type’ individuals of different birth cohorts, education and sexes, are then related to the time-series of employment rates at older ages for the equivalent types of individual. The generosity of the system rose over the period as whole but has fallen in recent years, and in contrast to many countries there were generally never large implicit taxes on work arising from the state pension system. What implicit subsidies there were in the years immediately before the State Pension Age have been gradually eliminated and the system is now broadly neutral with regard to work incentives. Exploiting variation in pension wealth and work incentives across different cohort-education-sex groups, created by the timing and phasing of pension reforms, we show that both pension wealth and the implicit work disincentives in the pension system are correlated with employment outcomes for men, with the expected negative sign.
主题Public Economics ; National Fiscal Issues ; Labor Economics ; Labor Supply and Demand ; Labor Compensation
URLhttps://www.nber.org/papers/w25261
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/582935
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James Banks,Carl Emmerson. A Lifetime of Changes: State Pensions and Work Incentives at Older Ages in the UK, 1948-2018. 2018.
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