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VAM-Velferd, arbeid og migrasjon

Pension Reforms and the Labour Market

Tildelt: kr 93 999

Prosjektnummer:

232302

Prosjektperiode:

2014 - 2014

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General summary: The overarching objective of the research project Push and Pull Factors in Early Retirement is to provide new insights on the determinants of labour force participation and retirement behavior of workers around the age of 60, and, in part icular, to study the effects of institutional features and policy on retirement choices. The project is lead by senior research fellow Christian Brinch and involves a core staff employed at Statistics Norway, and researchers from leading universities in E urope. Project-specific summary: The research work done by Ola Lotherington Vestad during the planned visit to the University of California, Berkeley will be focused on three research projects, each of which measures the effects of changes to the pension system in Norway on various outcomes of interest, exploiting rich, administrative data on employers and employees. In the first project, Vestad performs an empirical assessment of the short term and micro level effects of the number of jobs released throu gh early retirement on youth employment. The gradual phasing in of the early retirement programme AFP is used as a source of exogenous variation in the number of jobs released, and preliminary findings indicate that for every additional early retirement p ensioner there is room for one new labour market entrant. In the second project, Vestad and co-authors study the labour supply effects of flexible retirement provision, which is arguably one of the most prominent features of the Norwegian pension reform o f 2011. This project will provide new insights on the wealth effects of having access to pension benefits, and on the incentive effects of continued work past the pension eligibility age. The third project aims at providing new knowledge on the relative i mportance of push and pull factors in early retirement, by studying outcomes such as wages and firms? use of severance pay before and after changes in the early retirement scheme AFP.

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VAM-Velferd, arbeid og migrasjon