The pension incentive to retire: empirical evidence for West Germany.
"In this paper, the impact of the West German pension system on the retirement decisions of elderly citizens is analyzed within the framework of a discrete-time hazard rate model deduced from a micro-economic decision rule. The model is estimated using a panel dataset of elderly West German citizens. In order to improve the precision of the estimates obtained, the data from the sample are combined with aggregate-level information on the labour force participation behaviour of the elderly. Policy simulations based on the estimates reveal that the probability of early retirement can be reduced significantly by appropriate changes in the pension system."
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D000328:Adult; D000367:Age Factors; D000368:Aged; D001519:Behavior; D003657:Decision Making; D003710:Demography; D019049:Developed Countries; D004467:Economics; D004651:Employment; D005060:Europe; D005858:Germany; D006280:Health Workforce; D008962:Models, Theoretical; D009826:Old Age Assistance; D011153:Population; D011154:Population Characteristics; D012106:Research; D012179:Retirement; D012923:Social Class; D012959:Socioeconomic Factors
Adult; Age Factors; Aged; Behavior; Decision Making; Demographic Factors; Developed Countries; Economic Factors; Employment Status; Europe; Germany; Human Resources; Labor Force; Microeconomic Factors; Models, Theoretical; Old Age Security; Population; Population Characteristics; Research Methodology; Retirement--determinants; Socioeconomic Factors; Socioeconomic Status; Western Europe