Assessing the effects of an early retirement program

Bratberg, Espen; Holmås, Tor Helge; Thøgersen, Øystein

doi:10.1007/s00148-003-0165-y

Cited by 37 publications

(32 citation statements)

References 11 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In this study, gender differences are restricted to a gender dummy only. This is also the case in the study by Bratberg, Holmås and Thøgersen (2000). They use a competing risk framework and find that AFP to some degree relieves the pressure on disability pension and unemployment benefits.…”

Section: Lessons From the Retirement Literaturementioning

confidence: 65%

Gender Differences in Early Retirement Behaviour

Dahl¹,

Nilsen

Vaage

2003

European Sociological Review

View full text Add to dashboard Cite

Section: Lessons From the Retirement Literaturementioning

confidence: 65%

Gender Differences in Early Retirement Behaviour

Dahl¹,

Nilsen

Vaage

2003

European Sociological Review

View full text Add to dashboard Cite

“…We assume that the low income class retires before or at the same time as the high income class, a l =a h . This assumption is supported by empirical research and probably reflects that low income individuals face a higher net replacement rate than high income individuals, see Bratberg et al (2000).…”

Section: A Lower Early Retirement Subsidymentioning

confidence: 74%

“…Strøm (2000) and Bratberg et al (2000). Clearly, these reported induced retirement effects have motivated the design of the pension reforms analyzed in this paper.…”

mentioning

confidence: 94%

Social security reforms and early retirement

Fehr

Sterkeby

Thøgersen

2003

Journal of Population Economics

Self Cite

View full text Add to dashboard Cite

In order to stimulate labor market participation and improve the financial viability of the social security systems, many recent reform proposals in various OECD economies suggest to scale down the non-actuarial parts of the pension systems. These reforms have a flavour of increased efficiency at the costs of welfare losses for low income individuals. Investigating such a belief, we employ an overlapping generations model which features an endogenous retirement age and heterogenous individuals within generations. Based on a simple theoretical version of the model we demonstrate that high income individuals are likely to gain. The sign of the welfare effect for low income households is ambiguous because we do not know whether the effect of lower pension benefits is offset by the effect of a reduced tax-burden. Employing an extended CGE version of the model, which is calibrated to the Norwegian economy, we consider five reform proposals. It turns out that the various reforms which scale down the public non-actuarial pension system, lead to increases in the retirement age and steady-state welfare gains for all income classes.JEL classification: H55, H23, E62

show abstract

“…During the late 1980s and the 1990s the introduction of a generous early retirement program as well as other smaller adjustments of the pension system had to a considerable extent weakened the economic incentives to stay in the labor force until the ordinary retirement for many groups of senior workers, see Bratberg et al (2004). While the weak labor participation incentives called for a reform, the existence of a large and increasing public financial wealth in the Government Pension Fund probably made it harder to reach broad public support for a reform.…”

Section: Tax-and Pension Reformsmentioning

confidence: 99%

A Crisis Not Wasted Institutional and Structural Reforms Behind Norway's Strong Macroeconomic Performance.

Steigum

Thøgersen

2013

SSRN Journal

View full text Add to dashboard Cite

This paper draws the line between the Norwegian boom-bust cycle and crises in the late 1980s and early 1990s, the succeeding institutional and structural reforms and the strong macroeconomic performance and stability of the last two decades.The systemic banking crisis and speculative attack on the Norwegian krone in the early 1990s were the last in a series of blows to Norway's macroeconomic policy regime. In addition to the recession after 1988, the underlying growth potential of the Mainland economy was also weak, despite financial deregulation and the gains in competitiveness. The large oil price fall in the mid-1980s had demonstrated the risk of uncertain oil revenues as an important source of income to the government.The political awareness of an economic crisis paved the way for a series of structural reforms and changes in the macroeconomic policy regime. Some of these reforms were implemented quickly, such as a tax reform, an energy market reform and a new incomes policy framework. In 2001 a new framework for monetary and fiscal policy was put in place, involving a flexible exchange rate and inflation targeting, as well as a new fiscal policy rule designed to facilitate consumption smoothing and a build-up of a sovereign wealth fund. We discuss possible reasons why Norway's political system has been able to learn from previous policy failures and reach the necessary consensus, and determination, to implement institutional and structural reforms in economic policy. *This paper is forthcoming as a chapter in "Reform capacity and macroeconomic performance in the Nordic countries", ed. T.M. Andersen, M. Bergman and S.E.H. Jensen, Oxford University Press. We are grateful to Hans Tson Söderström for valuable comments.2

show abstract

Assessing the effects of an early retirement program

Abstract: J26, H55, J22, Induced retirement, social security, matching estimators,

Cited by 37 publications

References 11 publications

Gender Differences in Early Retirement Behaviour

Gender Differences in Early Retirement Behaviour

Social security reforms and early retirement

A Crisis Not Wasted Institutional and Structural Reforms Behind Norway's Strong Macroeconomic Performance.

Contact Info

Product

Resources

About