Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions


Manoli, Day ; Weber, Andrea



URL: http://www.cesifo-group.de/de/ifoHome/publications...
Additional URL: http://weber.vwl.uni-mannheim.de/fileadmin/user_up...
Document Type: Working paper
Year of publication: 2014
The title of a journal, publication series: CESifo Working Papers
Volume: 4619
Place of publication: München
ISSN: 1617-9595
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 (2014) Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions. CESifo Working Papers München 4619 [Working paper]


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