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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