Financial Incentives in the Austrian PAYG-Pension System: Micro-Estimation
Roman Rabb ()
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Roman Rabb: ICSG - Irish Centre for Social Gerontology, Department of Economics, National University of Ireland Galway
Authors registered in the RePEc Author Service: Roman Raab ()
International Center for Public Policy Working Paper Series, at AYSPS, GSU from International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University
The scope of this paper is to investigate the impact of financial incentives on the retirement decision of private sector workers in Austria. How do financial incentives embedded in the Austrian pension system impact individual retirement behavior? We are using a unique data set of individual social insurance spells. Micro-estimating the impact of financial incentives on the probability of retirement shows that the behavioral response to financial incentives in Austria is relatively large in international comparison. Also, there are striking behavioral differences between men and women. Using the estimates to simulate the response to reform shows that actual retirement ages could be most successfully brought up by a 6 percentage point deduction in pension benefits per year of early retirement.
Keywords: Models with Panel Data, Discrete Regression and Qualitative Choice Models, Social Security and Public Pensions, Time Allocation and Labor Supply, Retirement; Retirement Policies. (search for similar items in EconPapers)
Pages: 36 pages
New Economics Papers: this item is included in nep-age and nep-lab
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Journal Article: Financial incentives in the Austrian PAYG-pension system: micro-estimation (2011)
Working Paper: Financial Incentives in the Austrian PAYG-Pension System: Micro-Estimation (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:ays:ispwps:paper0902
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