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dc.contributor.authorFischer, Justina A. V.en_US
dc.date.accessioned2010-03-31en_US
dc.date.accessioned2010-12-03T11:10:52Z-
dc.date.available2010-12-03T11:10:52Z-
dc.date.issued2010en_US
dc.identifier.isbn978-3-940369-83-3en_US
dc.identifier.urihttp://hdl.handle.net/10419/42243-
dc.description.abstractEarly retirement of workers is used by firms as means to rejuvenate their workforces. In principle, workers can either simply be laid off or can be offered an early retirement option combined with a financial bonus. However, dismissing masses of older workers may be detrimental to social peace and stability and damage the firm's reputation, while entry into early retirement with a severance pay at least maintains the semblance of a worker's voluntary decision. Cross-national analyses of this topic using micro data are, however, widely missing. Using the SHARE (Survey of Health, Aging and Retirement in Europe) data set, this paper fills this gap by investigating to what extent institutional factors such as the generosity of the pension system and strong unions influence firms' rejuvenation policies. Stronger unions appear to lead to a higher likelihood of receiving a severance pay, as does a more generous pension system. In contrast, a higher decrease in wealth accrual leads to a higher probability of simple lay-off. It is concluded that the current reforms which aim at lowering the replacement rate and employment protection will most probably lead to more dismissals of older workers without severance pay.en_US
dc.language.isoengen_US
dc.publisherUniv, Fak. Wirtschafts- und Sozialwiss., Dep. Wirtschaftswiss. Hamburgen_US
dc.relation.ispartofseriesHamburg contemporary economic discussions 34en_US
dc.subject.jelJ14en_US
dc.subject.jelJ21en_US
dc.subject.jelJ22en_US
dc.subject.jelJ26en_US
dc.subject.ddc330en_US
dc.subject.keywordEarly Retirementen_US
dc.subject.keywordInvoluntary Early Retirementen_US
dc.subject.keywordSeverance Payen_US
dc.subject.keywordSocial Securityen_US
dc.subject.keywordPensionsen_US
dc.subject.keywordEmployment Protectionen_US
dc.subject.keywordUnionsen_US
dc.titleThe impact of institutions on Firms' rejuvenation policies: Early retirement with severance pay versus simple Lay-Off. A cross-European analysisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn622888706en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Hamburg Contemporary Economic Discussions, Lehrstuhl für Wirtschaftspolitik, Universität Hamburg

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