American Economic Journal:
Economic Policy
ISSN 1945-7731 (Print) | ISSN 1945-774X (Online)
Increasing the Retirement Age: Policy Effects and Underlying Mechanisms
American Economic Journal: Economic Policy
vol. 16,
no. 1, February 2024
(pp. 259–91)
Abstract
We study the effects of increasing the statutory retirement age (SRA) in the Netherlands, using regression discontinuity design and administrative data on the universe of the population. We find clear and large employment effects of the reform. A simple model in which individuals stay longer in their pre-SRA labor market state predicts the treatment effects well. The employment level before the SRA and the retirement hazard at the SRA are the key determinants of the effects of the policy change. Exploring potential explanations for the high hazard rate observed in the Netherlands, our results point to an important role for employers' effects.Citation
Rabaté, Simon, Egbert Jongen, and Tilbe Atav. 2024. "Increasing the Retirement Age: Policy Effects and Underlying Mechanisms." American Economic Journal: Economic Policy, 16 (1): 259–91. DOI: 10.1257/pol.20210101Additional Materials
JEL Classification
- H55 Social Security and Public Pensions
- J14 Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
- J26 Retirement; Retirement Policies
- J32 Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
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