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http://ssrn.com/abstract=1004484
 
 

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Firms and Early Retirement: Offers that One Does Not Refuse


Lutz Bellmann


Institute for Employment Research (IAB); Institute for the Study of Labor (IZA)

Florian Janik


Institute for Employment Research (IAB)

July 2007

IZA Discussion Paper No. 2931

Abstract:     
According to the Hutchens (1999) model, early retirement is not explained as a result of maximizing expected individual utility but rather as a demand-side phenomenon arising from a firm's profit-maximizing behaviour. Firms enter into contracts with their employees that include clauses about early retirement. In response to demand or technological shocks, workers receive retirement offers from their employers which cannot be rejected by rational actors. Using the IAB Establishment Panel 2003-2006, the relationship between indicators of demand and technological shocks and the incidence and amount of early retirement is analysed. The results provide general support to the Hutchens model.

Number of Pages in PDF File: 24

Keywords: (involuntary) early retirement, labour demand, panel data

JEL Classification: J14, J21, J23, J26

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Date posted: August 2, 2007  

Suggested Citation

Bellmann, Lutz and Janik, Florian, Firms and Early Retirement: Offers that One Does Not Refuse (July 2007). IZA Discussion Paper No. 2931. Available at SSRN: http://ssrn.com/abstract=1004484

Contact Information

Lutz Bellmann (Contact Author)
Institute for Employment Research (IAB) ( email )
Regensburger Str. 104
Nuremberg, 90478
Germany
+49 911 179 3046 (Phone)
+49 911 179 3297 (Fax)
Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
Florian Janik
Institute for Employment Research (IAB) ( email )
Regensburger Str. 104
Nuremberg, 90478
Germany
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