Does the dismantlement of early retirement schemes increase unemployment in Belgium?

Early retirement is often explained as resulting from a voluntary labour supply choice of a utility maximizing individual. Nonetheless, a lot of individuals perceive retirement as a forced instead of a voluntary decision. This paper tries to accommodate voluntary and involuntary labour supply decisions within one model. On the basis of a large administrative dataset merged with Census data, we estimate a discrete-time competing risk model of transitions from Belgian private-sector employees into unemployment, early and old-age retirement while accounting for forward-looking retirement incentiv... Mehr ...