Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/215140
Authors: 
Etgeton, Stefan
Fischer, Björn
Ye, Han
Year of Publication: 
2019
Series/Report no.: 
IZA Discussion Papers No. 12744
Abstract: 
Facing a reduction in pension generosity, individuals can compensate the loss by working longer or saving more. This paper shows that the impact of changes in pension generosity on saving crucially depends on the possibility of prolonging future employment. Exploiting across cohort variation in expected pension wealth induced by a 3-year lift in early retirement age for women born after 1951 in Germany, we show evidence of a reduction in private savings rate and an increase in leisure consumptions in case of strong responses in future labor earnings.
Subjects: 
pension reform
early retirement age
savings
pension wealth
JEL: 
D14
J14
J26
Document Type: 
Working Paper

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