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Labour supply disincentive effects of old age public pensions: A case study for West Germany combining panel data and aggregate information

Sikandar Siddiqui

No 28, Discussion Papers from University of Konstanz, Center for International Labor Economics (CILE)

Abstract: In this paper, the impact of the West German pension system on the retirement decisions of elderly citizens is analyzed within the framework of a discrete-time hazard rate model deduced from a micro-economic decision rule. The model is estimated using a balanced panel of elderly West German citizens. In order to improve the precision of the estimates obtained, the data from the sample are combined with aggregate-level information on the labour force participation behaviour of the elderly. Policy-related simulation experiments based on the estimates reveal that the probability of early retirement can be reduced significantly by appropriate changes in the pension system.

JEL-codes: C32 C41 J26 (search for similar items in EconPapers)
Date: 1995
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