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The link between pensions and retirement timing: Lessons from California teachers

Kristine Brown

Journal of Public Economics, 2013, vol. 98, issue C, 1-14

Abstract: I exploit a major, unanticipated reform of the California teachers' pension to provide quasi-experimental evidence on the link between pension features and retirement timing. Using two large administrative data sets, I conduct a reduced-form analysis that leverages the nonlinearities in the return to work generated by the pension features and the reform-induced shifts of these nonlinearities for identification. The implied estimates of the elasticity of lifetime labor supply with respect to the return to work are centered around 0.04 in the medium-run and are less than 0.1 in the long-run.

Keywords: Pension reform; Retirement; Teacher labor supply (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1016/j.jpubeco.2012.10.007

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