Arbeitspapier
The Effect of Increasing the Early Retirement Age on Savings Behavior Before Retirement
Facing a reduction in pension generosity, individuals can compensate the loss by working longer or saving more. This paper shows that the impact of changes in pension generosity on saving crucially depends on the possibility of prolonging future employment. Exploiting across cohort variation in expected pension wealth induced by a 3-year lift in early retirement age for women born after 1951 in Germany, we show evidence of a reduction in private savings rate and an increase in leisure consumptions in case of strong responses in future labor earnings.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 12744
- Klassifikation
-
Wirtschaft
Household Saving; Personal Finance
Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
Retirement; Retirement Policies
- Thema
-
pension reform
early retirement age
savings
pension wealth
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Etgeton, Stefan
Fischer, Björn
Ye, Han
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute of Labor Economics (IZA)
- (wo)
-
Bonn
- (wann)
-
2019
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Etgeton, Stefan
- Fischer, Björn
- Ye, Han
- Institute of Labor Economics (IZA)
Entstanden
- 2019
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