Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions

Manoli, Day; Wéber, Andrea

doi:10.2139/ssrn.2398310

Cited by 14 publications

(12 citation statements)

References 16 publications

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“…home equity and net debt are not observed), the absence of substantial long-run realization responses makes it less likely that individuals adjusted their savings along other margins. This is consistent with the results from several recent papers which find that contributions to tax-preferred savings accounts do not respond strongly to tax incentives (Chetty et al (2014); Manoli and Weber (2016); Messacar (2018)). 9…”

supporting

confidence: 92%

Permanent and Transitory Responses to Capital Gains Taxes: Evidence from a Lifetime Exemption in Canada

Lavecchia¹,

Tazhitdinova²

2022

SSRN Journal

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supporting

confidence: 92%

Permanent and Transitory Responses to Capital Gains Taxes: Evidence from a Lifetime Exemption in Canada

Lavecchia¹,

Tazhitdinova²

2022

SSRN Journal

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“…This consideration may be particularly relevant to our sample of older workers. For example, Manoli and Weber (2016) present compelling intertemporal substitution evidence for retirement delays across the next step of tenure categories, which however operate at very short time windows. This evidence for the dynamic non-neutrality of severance payments is consistent with, for example, wage rigidity (by which workers for whom retiring right above the severance payment step could simply bargain for higher wages and retire at the otherwise optimal date).…”

Section: List Of Figuresmentioning

confidence: 99%

Marginal Jobs and Job Surplus: A Test of the Efficiency of Separations

Jäger

Schoefer

Zweimüller

2022

The Review of Economic Studies

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We present a test of Coasean theories of efficient separations. We study a cohort of jobs from the introduction through the repeal of a large age- and region-specific unemployment benefit extension in Austria. In the treatment group, 18.5% fewer jobs survive the program period. According to the Coasean view, the destroyed marginal jobs had low joint surplus. Hence, after the repeal, the treatment survivors should be more resilient than the ineligible control group survivors. Strikingly, the two groups instead exhibit identical post-repeal separation behavior. We provide, and find suggestive evidence consistent with, an alternative model in which wage rigidity drives the inefficient separation dynamics.

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“…Recent literature has used quasi-experimental evidence to study the effect of incentives on retirement (Brown, 2013;Manoli and Weber, 2016a;Furgeson et al, 2006) and also the effect of a change in statutory retirement age and found that labels affect behavior in a manner which cannot be rationalized by standard preferences (Behaghel and Blau, 2012;Cribb et al, 2016;Manoli and Weber, 2016b;Seibold, 2019;Staubli and Zweimüller, 2013).…”

Section: Part I: Retirement Systems and Retirement Decisionsmentioning

confidence: 99%