期刊
JOURNAL OF PUBLIC ECONOMICS
卷 142, 期 -, 页码 39-55出版社
ELSEVIER SCIENCE SA
DOI: 10.1016/j.jpubeco.2016.08.009
关键词
Early retirement; Labor supply; Pension reform; Program evaluation
类别
资金
- Research Council of Norway (Evaluation of the pension reform)
- ARC Centre of Excellence in Population Ageing Research (CEPAR)
We exploit a comprehensive restructuring of the early retirement system in Norway in 2011 to examine labor supply responses to increases in work incentives and actuarially neutral reductions in the age of first access to pension benefits. We find that increasing the returns to work is a powerful policy: The removal of an earnings test, implying a doubling of the average net take-home wage, led to an increase in average labor supply by 7 h per week (30%) at age 63 and by 8 h (46%) at age 64. The responses primarily came at the extensive margin. In contrast, reducing the access age has almost no effect on labor supply, in our setting with actuarially fair work incentives. (C) 2016 Elsevier B.V. All rights reserved.
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