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Who wants (them) to work longer?

Bittschi, Benjamin; Wigger, Berthold U. 1
1 Institut für Volkswirtschaftslehre (ECON), Karlsruher Institut für Technologie (KIT)

Abstract:

This paper examines age-specific individual preferences for the legal retirement age. Within a theoretical model, we develop the hypothesis that retirees prefer a higher legal retirement age than workers, and that newly retired individuals prefer the highest retirement age. Retirees benefit from a positive fiscal externality. A higher legal retirement age leads to higher pension benefits, without retirees having to bear the costs in the form of a longer working life. We corroborate the hypothesis empirically with a fuzzy regression discontinuity design and show that newly retired individuals are indeed most in favor of an increasing retirement age. We conclude that in aging societies the political feasibility of raising the legal retirement age increases.


Verlagsausgabe §
DOI: 10.5445/IR/1000158594
Veröffentlicht am 31.05.2023
Originalveröffentlichung
DOI: 10.1016/j.econlet.2023.111122
Scopus
Zitationen: 1
Dimensions
Zitationen: 1
Cover der Publikation
Zugehörige Institution(en) am KIT Institut für Volkswirtschaftslehre (ECON)
Publikationstyp Zeitschriftenaufsatz
Publikationsmonat/-jahr 06.2023
Sprache Englisch
Identifikator ISSN: 0165-1765, 1873-7374
KITopen-ID: 1000158594
Erschienen in Economics Letters
Verlag Elsevier
Band 227
Seiten Art.-Nr.: 111122
Nachgewiesen in Dimensions
Web of Science
Scopus
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