Topic Retirement and Pension Provision

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253 results, from 1
Cluster-Seminar Öffentliche Finanzen und Lebenslagen

Responses to unexpected and permanent changes in pension income

For the design of pension reform it is crucial to disentangle the employment effects related to the substitution and the income effect. In this paper we provide causal evidence about the importance of the income effect which in general has been assumed to be small or non-existent. We exploit a pension reform in Germany that raised pension benefits related to children. For...

03.02.2021| Sebastian Becker
Externe referierte Aufsätze

Early Retirement as a Privilege for the Rich? A Comparative Analysis of Germany and Switzerland

This contribution analyses early retirement in Germany and Switzerland with a focus on financial resources. Using data from CH-SILC linked to administrative records and the German SOEP, we distinguish three different financial resources: namely, pre-retirement labour income, net worth and pension entitlements. High labour income reduces the probability for early retirement. In contrast, high pension ...

In: Advances in Life Course Research 47 (2021), 100392, 10 S. | Ursina Kuhn, Markus M. Grabka, Christian Suter
Diskussionspapiere 1937 / 2021

Crowding of International Mutual Funds

We study the relationship between crowding and performance in the active mutual fund industry. We construct a fund-specific measure of crowding using the equity holdings overlap of 17,364 global funds. Funds in the top decile of crowding underperform passive benchmark funds by 1.4% per year. The impact of crowding on performance cannot be attributed to diseconomies of scale. We explore several mechanisms: ...

2021| Tanja Artiga Gonzalez, Teodor Dyakov, Justus Inhoffen, Evert Wipplinger
Diskussionspapiere 1941 / 2021

Employment Responses to Income Effect: Evidence from Pension Reform

For the design of the pension system, it is crucial to disentangle the employment responses related to the substitution effect and the income effect. In this paper, we provide causal evidence regarding the importance of the income effect, which is generally assumed to be small or non-existent. We exploit a pension reform in Germany that raised pension bene- fits related to children. For the identification, ...

2021| Sebastian Becker, Hermann Buslei, Johannes Geyer, Peter Haan
Externe referierte Aufsätze

Equilibrium Effects of Tax Exemptions for Low Pay

Across the world, tax exemptions for jobs with low earnings intend to incite non-participating workers to rejoin the labor market. However, such tax exemptions may also have negative equilibrium effects. The German minijob tax exemption offers a convenient case to identify equilibrium effects as it applies to some but not to other low-wage jobs. We build and estimate a structural job search model with ...

In: Labour Economics 69 (2021), 101976 , 15 S. | Luke Haywood, Michael Neumann
Externe referierte Aufsätze

Gendered Employment Trajectories and Individual Wealth at Older Ages in Eastern and Western Germany

This study examines the association between employment trajectories and retired men’s and women’s individual wealth at older ages in the two distinct welfare state contexts of Eastern and Western Germany. Because of the increasing re-marketization of retirement provisions, wealth is becoming increasingly important for retirees’ economic well-being. Using data from the German Socio-Economic Panel Study ...

In: Advances in Life Course Research (2021), 100374, 11 S. | Theresa Nutz, Philipp A. Lersch
Diskussionspapiere 1953 / 2021

Unconventional Fiscal Policy in HANK

In HANK, we show that fiscal policy is an appropriate macroeconomic stabilization tool at the ZLB. Fiscal policy achieves the same macroeconomic aggregates and the same welfare as hypothetically unconstrained monetary policy by replicating its transmission mechanism. Consumption taxes and labor taxes replicate the effects of monetary policy through the intertemporal substitution channel. Debt-financed ...

2021| Hannah Seidl, Fabian Seyrich
SOEPpapers 1139 / 2021

Why a Labour Market Boom Does Not Necessarily Bring Down Inequality: Putting Together Germany’s Inequality Puzzle

After an economically tough start into the new millennium, Germany experienced an unprecedented employment boom after 2005 only stopped by the COVID-19 pandemic. Persistently high levels of inequality despite a booming labour market and drastically falling unemployment rates constituted a puzzle, suggesting either that the German job miracle mainly benefitted individuals in the mid- or high-income range ...

2021| Martin Biewen, Miriam Sturm
Externe referierte Aufsätze

Closing Routes to Retirement for Women: How Do They Respond?

We study the employment effects of a large increase in the early retirement age (ERA) of women. Raising the ERA has the potential to extend contribution periods and to reduce the number of pensioners at the same time. However, workers may not be able to work longer or may choose other social support programs as exit routes from employment. Results suggest that the reform increases employment, unemployment ...

In: Journal of Human Resources 56 (2021), 1, S. 311-341 | Johannes Geyer, Clara Welteke
SOEPpapers 1141 / 2021

Pension Wealth and the Gender Wealth Gap

We examine the gender wealth gap with a focus on pension wealth and statutory pension rights. By taking into account employment characteristics of women and men, we are able and identify the extent to which the redistributive effect of pension rights reduces the gap. The empirical basis of this examination is the Socio-Economic Panel (SOEP), which is one of the few datasets where information on wealth ...

2021| Karla Cordova, Markus M. Grabka, Eva Sierminska
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