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Can Policy Facilitate Partial Retirement? Evidence from Germany

Peter B. Berg (), Mary K. Hamman (), Matthew Piszczek () and Christopher Ruhm ()
Additional contact information
Peter B. Berg: Michigan State University
Mary K. Hamman: University of Wisconsin, La Crosse
Matthew Piszczek: University of Wisconsin, Oshkosh

No 9266, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: In 1996, Germany introduced the Altersteilzeit (ATZ) law, which encouraged longer working lives through partial retirement incentives. Using matched pension system and establishment survey data, we estimate changes in part-time employment and retirement after ATZ. We find the policy induced growth in part-time work for men and extended men's expected duration of employment by 1.8 years. As the policy evolved to include an abrupt retirement option, the worklife gain for men fell to 1.2 years. Among women, part-time employment grew less and employment duration changed little initially but later declined by 0.2 years when abrupt retirement became available.

Keywords: partial retirement; Germany (search for similar items in EconPapers)
JEL-codes: J26 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age, nep-eur, nep-ger and nep-lma
Date: 2015-08
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