@article {5019,
	title = {The Effect of Pension Subsidies on the Retirement Timing of Older Women},
	volume = {CRC TR 224 Discussion Paper Series},
	year = {2020},
	month = {May, 2020},
	publisher = {University of Bonn and University of Mannheim},
	address = {Germany},
	abstract = {<p>I estimate the effect of additional pension benefits on women\&rsquo;s retirement decisions by examining a German pension subsidy program. The subsidies have a kinked relationship with the recipients\&rsquo; past pension contributions, creating a sharply different slope of benefits for similar women on either side of the kink point. I find that a 100 euro increase in the monthly benefit induces female recipients to claim their pensions six months earlier. Recipients also adjust their labor supply by using unemployment insurance (UI) as a stepping stone to retirement and by reducing time spent in marginal employment. A back-of-the-envelope calculation suggests that the ratio of behavioral to mechanical costs for this subsidy program is 0.25, which is smaller than that of other income support programs.</p>
},
	keywords = {pension generosity, pension subsidy, regression kink design, retirement},
	url = {http://eeassoc.s3.amazonaws.com/s3fs-public/2021-09/Han_Ye_pension_subsidy_teachingmaterial.pdf},
	author = {Han Ye}
}
