(joint work with Lars Felder, Johannes Geyer, and Peter Haan) Despite growing demographic pressure, a reform in Germany has lowered the full retirement age (FRA) temporarily for early starters. In this paper we analyze whether the reform was well targeted. Specifically, we study if the early retirement scheme benefits workers with high job strain or if workers with better jobs and the potential...
This study examines the impact of Statutory Retirement Age (SRA) reforms on individual behavior and welfare in the presence of policy uncertainty and misinformation. We develop a structural life-cycle model in which individuals are uncertain about the future evolution of the SRA and misinformed about its importance. We derive individuals’ expectations and information on the SRA from self-elicited...
As Western populations age, more adult children face parental health challenges. Caregiving responsibilities towards parents are becoming crucial concerns for families, healthcare systems, and societies. While this care is essential for elderly well-being, it also demands significant time, energy and emotional resources. Yet, the impact of care provision on caregivers’ lives remains understudied....
Health investments are vital for maintaining physical and mental well-being throughout working life, and their importance is amplified with rising retirement ages due to demographic aging. This is the first study to examine if a longer working life causally increases institutionalized health investments. We explore the impact of a German pension reform that raised the retirement age by three years...
Labor shortages and skills mismatches pose significant challenges for Germany and other advanced economies, which are further exacerbated by the retirement of the baby boomer generation, the digital transformation and the ecological transformation of the economy. These developments are fundamentally changing labor demand, task structures and skill requirements, leading to a growing mismatch...
