HOW SENSITIVE ARE RETIREMENT DECISIONS TO FINANCIAL INCENTIVES? A STATED PREFERENCE ANALYSIS (replication data)

We study the effects of financial incentives on retirement decisions using stated preference data. Dutch survey respondents were given hypothetical retirement scenarios describing age(s) of (partial and full) retirement and replacement rate(s). A stylized model is estimated in which utility is the discounted sum of within-period utilities that depend on employment status and income. Parameters of the utility function vary with observed and unobserved characteristics. Simulations show that the income and substitution effects of pensions as a function of the retirement age are substantial and la... Mehr ...

Verfasser: Soest, Arthur van
Vonkova, Hana
Dokumenttyp: Datenquelle
Erscheinungsdatum: 2014
Verlag/Hrsg.: ZBW - Leibniz Informationszentrum Wirtschaft
Schlagwörter: Incentives / Netherlands / Older workers / Retirement / Revealed preferences
Sprache: Englisch
Permalink: https://search.fid-benelux.de/Record/base-29159334
Datenquelle: BASE; Originalkatalog
Powered By: BASE
Link(s) : https://doi.org/10.15456/jae.2022321.0713933738

We study the effects of financial incentives on retirement decisions using stated preference data. Dutch survey respondents were given hypothetical retirement scenarios describing age(s) of (partial and full) retirement and replacement rate(s). A stylized model is estimated in which utility is the discounted sum of within-period utilities that depend on employment status and income. Parameters of the utility function vary with observed and unobserved characteristics. Simulations show that the income and substitution effects of pensions as a function of the retirement age are substantial and larger than according to studies using data on actual retirement decisions in the Netherlands.