Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions


Manoli, Day ; Weber, Andrea



URL: http://www.nber.org/papers/w17320.pdf
Additional URL: http://www.nber.org/papers/w17320
Document Type: Working paper
Year of publication: 2011
The title of a journal, publication series: NBER Working Paper
Volume: 17320
Place of publication: Cambridge, Mass.
Publication language: English
Institution: School of Law and Economics > VWL, Angewandte Politische Ökonomie (Weber -2015)
Subject: 330 Economics
Abstract: This paper presents new empirical evidence on the effects of retirement benefits on labor force participation decisions. We use administrative data on the census of private sector employees in Austria and variation from mandated discontinuous changes in retirement benefits from the Austrian pension system. We present graphical evidence documenting labor supply responses to the policy discontinuities. Next, we develop nonparametric procedures to estimate labor supply elasticities based on the graphical evidence and mandated financial incentives. We estimate elasticities of 0.12 for men and 0.38 for women. These relatively low elasticities highlight that many retirement decisions are likely to be affected by factors beyond only financial incentives from retirement benefits.

Dieser Eintrag ist Teil der Universitätsbibliographie.




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Manoli, Day ; Weber, Andrea (2011) Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions. NBER Working Paper Cambridge, Mass. 17320 [Working paper]


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