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

No 311/2009, Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim from Department of Economics, University of Hohenheim, 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)
Pages: 10 pages
Date: 2009-06
New Economics Papers: this item is included in nep-age, nep-eec and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Working Paper: The Effect of Pension Generosity on Early Retirement: A Microdata Analysis for Europe from 1967 to 2004 (2009)
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