The Effect of Pension Generosity on Early Retirement: A Microdata Analysis for Europe from 1967 to 2004

Justina A. V. Fischer () and Alfonso Sousa-Poza

MPRA Paper from University Library of Munich, Germany

Abstract: Using pseudo-panel microdata we show that pension generosity affects early retirement decisions. The changes in the average replacement rate and decreases in wealth accrual between 1967 and 2004 have caused an increase in early retirement probabilities from 16% to 63%.

Keywords: Early Retirement; Pension Systems; Pension Neutrality; Pension Generosity; SHARE. (search for similar items in EconPapers)
JEL-codes: H55 J21 J26 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age and nep-eec
Date: Written
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Related works:
Working Paper: The Effect of Pension Generosity on Early Retirement: A Microdata Analysis for Europe from 1967 to 2004 (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:15940

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