<?xml version="1.0" encoding="UTF-8"?><xml><records><record><source-app name="Biblio" version="7.x">Drupal-Biblio</source-app><ref-type>13</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Han Ye</style></author></authors></contributors><titles><title><style face="normal" font="default" size="100%">The Effect of Pension Subsidies on the Retirement Timing of Older Women</style></title></titles><keywords><keyword><style  face="normal" font="default" size="100%">pension generosity</style></keyword><keyword><style  face="normal" font="default" size="100%">pension subsidy</style></keyword><keyword><style  face="normal" font="default" size="100%">regression kink design</style></keyword><keyword><style  face="normal" font="default" size="100%">retirement</style></keyword></keywords><dates><year><style  face="normal" font="default" size="100%">2020</style></year><pub-dates><date><style  face="normal" font="default" size="100%">May, 2020</style></date></pub-dates></dates><urls><web-urls><url><style face="normal" font="default" size="100%">http://eeassoc.s3.amazonaws.com/s3fs-public/2021-09/Han_Ye_pension_subsidy_teachingmaterial.pdf</style></url></web-urls></urls><publisher><style face="normal" font="default" size="100%">University of Bonn and University of Mannheim</style></publisher><pub-location><style face="normal" font="default" size="100%">Germany</style></pub-location><volume><style face="normal" font="default" size="100%">CRC TR 224 Discussion Paper Series</style></volume><language><style face="normal" font="default" size="100%">eng</style></language><abstract><style face="normal" font="default" size="100%">&lt;p&gt;I estimate the effect of additional pension benefits on women&amp;rsquo;s retirement decisions by examining a German pension subsidy program. The subsidies have a kinked relationship with the recipients&amp;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.&lt;/p&gt;
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