Arbeitspapier

Are Retirees More Satisfied? Anticipation and Adaptation Effects: A Causal Panel Analysis of German Statutory Insured and Civil Service Pensioners

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This study contributes to the subjective well-being and retirement literature by quantifying life satisfaction before (4) and after retirement (9+) periods asking: Are retirees more satisfied? Fixed-effects and causal instrumental variables (IV) estimates with individual longitudinal data of the Socio-Economic Panel (SOEP, 33 waves) analyze anticipation and adaptation retirement effects of statutory insured and civil service pensioners in Germany. Main findings: The occupational situation absorbs a positive personal and family influence. There are positive anticipation effects before retirement followed by adaptation instantly when retired both for statutory insured and civil service pensioners. With neutral respectively negative post-retirement adaptation there is no positive retirement effect for both pensioner groups. In short: retirees are not more satisfied, a remarkable result both for statutory insured and civil service pensioners.

Language: Englisch

Bibliographic citation: Series: IZA Discussion Papers ; No. 15140

Classification: Wirtschaft
General Welfare; Well-Being
Retirement; Retirement Policies
Single Equation Models; Single Variables: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models

Subject: retirement
statutory insured and civil service pensioners
life satisfaction/subjective well-being
anticipation and adaptation effects
robust fixed-effect regression
causality IV estimates
Socio-Economic Panel (SOEP)
Germany

Event: Geistige Schöpfung

(who): Merz, Joachim

Event: Veröffentlichung

(who): Institute of Labor Economics (IZA)

(where): Bonn

(when): 2022

Handle: http://hdl.handle.net/10419/252264

Last update: 10.03.2025, 11:44 AM CET

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Object type

Arbeitspapier

Associated

Merz, Joachim
Institute of Labor Economics (IZA)

Time of origin

2022

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