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Structural Changes in the Labor Market and the Rise of Early Retirement in France and Germany

Anna Batyra, David de la Croix (), Olivier Pierrard () and Henri Sneessens ()

German Economic Review, 2019, vol. 20, issue 4, e38-e69

Abstract: The rise of early retirement in Europe is typically attributed to the European system of taxes and transfers. A model with an imperfectly competitive labor market allows us to consider also the effects of bargaining power and of matching efficiency on pre‐retirement. We find that lower bargaining power of workers and declining matching efficiency have been important determinants of early retirement in France and Germany. These structural changes, combined with early retirement transfers and population aging, are also consistent with the employment and unemployment rates, labor share and seniority premia.

Date: 2019
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German Economic Review is currently edited by Bernhard Felderer, Joseph F. Francois, Ivo Welch, Urs Schweizer and David E. Wildasin

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