New papers from the National Bureau of Economic Research

Social Security Programs and the Elderly Employment in Japan
by Takashi Oshio, Akiko S. Oishi, Satoshi Shimizutani  -  #25243 (AG)

Abstract:
We examine how the change in the trend of the elderly's
employment rates has been associated with changes in incentives
of social security and its related programs in Japan since the
1980s.  We compute the tax force to retire early, using the
institutional parameters and synthetic earnings profiles, and
juxtapose the tax force measures and the elderly employment rates
during 1980 and 2016.  Our results suggest that a reduction in
the tax force to retire early due to a series of social security
reforms has been associated with the recent recovery of the
employment rates for men aged 60 years and over as well as the
increasing upward trend in the employment rates for women aged
55-64 years.
http://papers.nber.org/papers/w25243?utm_campaign=ntw&utm_medium=email&utm_source=ntwg2

Social Security Programs and Employment at Older Ages in the Netherlands, by Klaas de Vos, Arie Kapteyn, Adriaan Kalwij  -  #25250 (AG)

Abstract:
There have been a vast number of social security reforms aimed at
increasing employment at older ages over the last two decades in
the Netherlands.  These reforms mainly lead to more stringent
eligibility criteria for, and reduced generosity of, social
security programs.  Our empirical evidence suggests that these
reforms are likely to have contributed to individuals working
longer, but it is difficult to pinpoint which reforms have been
most effective.  Furthermore, we show that the recent increase in
the state pension eligibility age is likely to further increase
employment at older ages.
http://papers.nber.org/papers/w25250?utm_campaign=ntw&utm_medium=email&utm_source=ntwg2

Saving Regret, by Axel H. Boersch-Supan, Tabea Bucher-Koenen, Michael D. Hurd, Susann Rohwedder  -  #25238 (AG LS)

Abstract:
We define saving regret as the wish in hindsight to have saved
more earlier in life.  We measured saving regret and possible
determinants in a survey of a probability sample of those aged
60-79.  We investigate two main causes of saving regret:
procrastination along with other psychological traits, and the
role of shocks, both positive and negative.  We find high levels
of saving regret but relatively little of the variation is
explained by procrastination and psychological factors.  Shocks
such as unemployment, health and divorce explain much more of the
variation.  The results have important implications for
retirement saving policies.

http://papers.nber.org/papers/w25238?utm_campaign=ntw&utm_medium=email&utm_source=ntwg2