Role of labor demand in the labor market effects of a pension reform

Industrial Relations - Tập 61 Số 2 - Trang 152-192 - 2022
Johannes Geyer1, Peter Haan2, Svenja Lorenz3, Thomas Zwick4, Mona Bruns3
1DIW Berlin, Berlin, Germany
2DIW Berlin, Free University of Berlin, Berlin, Germany
3University of Würzburg, Würzburg, Germany
4ZEW Mannheim ROA Maastricht University of Würzburg Würzburg Germany

Tóm tắt

AbstractThis paper shows that labor demand plays an important role in the labor market reactions to a pension reform in Germany. Employers with a high share of older worker inflow compared with their younger worker inflow, employers in sectors with few investments in research and development, and employers in sectors with a high share of collective bargaining agreements allow their employees to stay employed longer after the reform. These employers offer their older employees partial retirement instead of forcing them into unemployment before early retirement because the older employees incur low substitution costs and high dismissal costs.

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