Pension Reform, Retirement and Life-Cycle Unemployment

CESifo Working Paper No. 2163

University of St. Gallen, Department of Economics, Discussion Paper No. 2007-43

47 Pages Posted: 12 Dec 2007

See all articles by Christian Jaag

Christian Jaag

Swiss Economics; University of St. Gallen - Institute of Public Finance and Fiscal Law

Christian Keuschnigg

University of St. Gallen – Department of Economics (FGN-HSG); CESifo (Center for Economic Studies and Ifo Institute); Centre for Economic Policy Research (CEPR)

Mirela Keuschnigg

University of St. Gallen - SEPS: Economics and Political Sciences

Date Written: December 2007

Abstract

The labor market effects of pension reform stem from retirement behavior and from job search and hours worked of prime age workers. This paper investigates the impact of four often proposed policy measures for sustainable pensions: strengthening the tax benefit link, moving from wage to price indexation of benefits, lengthening calculation periods, and introducing more actuarial fairness in pension assessment. We provide some analytical results and use a computational model to demonstrate the economic and welfare impact of recent pension reform in Austria.

Keywords: pension reform, retirement, job search, life-cycle unemployment

JEL Classification: D58, D91, H55, J26, J64

Suggested Citation

Jaag, Christian Yvo and Keuschnigg, Christian and Keuschnigg, Mirela, Pension Reform, Retirement and Life-Cycle Unemployment (December 2007). CESifo Working Paper No. 2163, University of St. Gallen, Department of Economics, Discussion Paper No. 2007-43, Available at SSRN: https://ssrn.com/abstract=1070688

Christian Yvo Jaag

Swiss Economics ( email )

Stampfenbachstr. 142
Zurich, CH-8006
Switzerland

University of St. Gallen - Institute of Public Finance and Fiscal Law ( email )

Rosenbergstrasse 51
St. Gallen, St. Gallen CH-9000
Switzerland

Christian Keuschnigg (Contact Author)

University of St. Gallen – Department of Economics (FGN-HSG) ( email )

Varnbuelstrasse 19
St. Gallen, 9000
Switzerland

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Mirela Keuschnigg

University of St. Gallen - SEPS: Economics and Political Sciences ( email )

University of St. Gallen
St. Gallen, CH-9000
Switzerland

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