Pension reform, retirement, and life-cycle unemployment

Item Type Journal paper
Abstract

This paper investigates the labor market impact of four often proposed
policy measures for sustainable pensions: strengthening the tax benefit link, moving from wage to price indexation of benefits, lengthening calculation periods, and introducing more actuarial fairness in pension assessment. We consider the impact on three margins of aggregate labor supply, retirement behavior, job search, and hours worked.We provide some analytical results and use a computational model to demonstrate the economic impact of recent pension reform in Austria. Reducing the distortion in the retirement decision by introducing pension supplements and discounts conditional on the chosen retirement date promises the largest gains.We also find that the pension reform is far from sufficient to offset the fiscal implications of projected demographic change in Austria.

Authors Keuschnigg, Christian; Jaag, Christian & Keuschnigg, Mirela
Journal or Publication Title International Tax and Public Finance
Language English
Keywords Pension reform, retirement, job search, life-cycle unemployment
Subjects economics
HSG Classification contribution to scientific community
Refereed Yes
Date 7 October 2010
Publisher Springer
Place of Publication US
Volume 17
Number 5
Page Range 556-585
Number of Pages 30
ISSN 0927-5940
ISSN-Digital 1573-6970
Publisher DOI 10.1007/s10797-010-9134-z
Depositing User Dr. Mirela Keuschnigg
Date Deposited 04 Dec 2007 10:58
Last Modified 23 Aug 2016 11:03
URI: https://www.alexandria.unisg.ch/publications/41698

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Citation

Keuschnigg, Christian; Jaag, Christian & Keuschnigg, Mirela (2010) Pension reform, retirement, and life-cycle unemployment. International Tax and Public Finance, 17 (5). 556-585. ISSN 0927-5940

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https://www.alexandria.unisg.ch/id/eprint/41698
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