TY  - RPRT
        AU  - Artmann, Elisabeth
AU  - Fuchs-Schündeln, Nicola
AU  - Giupponi, Giulia
        TI  - Forward-Looking Labor Supply Responses to Changes in Pension Wealth: Evidence from Germany
        PY  - 2023/May/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 16132
        UR  - https://www.iza.org/index.php/publications/dp16132
        AB  - We provide new evidence of forward-looking labor supply responses to changes in pension wealth. We exploit a 2014 German reform that increased pension wealth for mothers by an average of 4.4% per child born before January 1, 1992. Using administrative data on the universe of working histories, we implement a difference-in-differences design comparing women who had their first child before versus after January 1, 1992. We document significant reductions in labor earnings, driven by intensive margin responses. Our estimates imply that, on average, an extra euro of pension wealth in a given period reduces unconditional labor earnings by 54 cents. 
        KW  - labor supply
KW  - social security
KW  - pension wealth
        ER  -