Life-Cycle Unemployment, Retirement, and Parametric Pension Reform
Type
discussion paper
Date Issued
2011-05-16
Author(s)
Abstract
This paper investigates the consequences of pension reform for life-cycle unemployment and retirement. We find that (i) improving actuarial fairness in pension assessment not only boosts old age participation but also reduces unemployment among prime age workers and raises welfare; (ii) strengthening the tax benefit link boosts life-cycle labor supply on all margins and welfare; (iii) excluding unemployment benefits from the pension assessment base reduces unemployment, encourages later retirement and boosts efficiency; and (iv) extending the calculation period favors employment of young workers, might possibly lead to more unemployment among older ones, encourages postponed retirement and most likely yields positive welfare gains
Language
English
Keywords
Pensions
tax benefit link
retirement
unemployment
HSG Classification
contribution to scientific community
Refereed
No
Start page
34
Subject(s)
Eprints ID
119592
File(s)![Thumbnail Image]()
open.access
Name
FisherKeuschnigg14May2011.pdf
Size
348.04 KB
Format
Adobe PDF
Checksum (MD5)
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