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The impact of early retirement incentives on labor market participation: evidence from a parametric change in the Czech Republic
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SYSNO ASEP 0368426 Document Type J - Journal Article R&D Document Type Journal Article Subsidiary J Článek ve WOS Title The impact of early retirement incentives on labor market participation: evidence from a parametric change in the Czech Republic Author(s) Kocourek, D. (CZ)
Pertold, Filip (NHU-N) RIDSource Title Finance a úvěr-Czech Journal of Economics and Finance. - : Univerzita Karlova v Praze - ISSN 0015-1920
Roč. 61, č. 5 (2011), s. 467-483Number of pages 17 s. Language eng - English Country CZ - Czech Republic Keywords early retirement ; labor market participation ; Czech Republic Subject RIV AH - Economics R&D Projects LC542 GA MŠMT - Ministry of Education, Youth and Sports (MEYS) CEZ AV0Z70850503 - NHU-N (2005-2011) UT WOS 000296909200007 Annotation We investigate the impact of a change in the Czech early retirement scheme on the labor force participation of older male workers. Using the difference-in-differences method we find that a reduction in early retirement benefits by 2-3% leads to significant decrease in the probability of being inactive for eligible individuals. The effect for individuals who are on the margin of eligibility for early retirement is much stronger than that for an average eligible individual. Our finding implies high elasticity of older male workers' participation rate. The public policy implication is that a reduction in early retirement benefits can serve as a very effective tool to increase the participation of older men in the Czech labor market. Workplace Economics Institute Contact Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Year of Publishing 2012 Electronic address http://journal.fsv.cuni.cz/storage/1226_kocourek.pdf
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