TY  - RPRT
        AU  - Hernaes, Erik
AU  - Markussen, Simen
AU  - Piggott, John
AU  - Røed, Knut
        TI  - Pension Reform and Labor Supply: Flexibility vs. Prescription
        PY  - 2015/Jan/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 8812
        UR  - https://www.iza.org/index.php/publications/dp8812
        AB  - We exploit a comprehensive restructuring of the early retirement system in Norway in 2011 to examine labor supply responses to alternative pension reform strategies relying on improved work incentives (flexibility) or increased access ages (prescription), respectively. We find that increasing the returns to work is a powerful policy tool: The removal of the earnings test at age 63 led to an immediate increase in average annual labor earnings among the affected mature workers by around $14,700 (NOK 90,000). The implied uncompensated labor earnings elasticity (the percentage change in average gross earnings relative to the percentage change in average work-incentives) is around 0.25.
        KW  - early retirement
KW  - labor supply
KW  - pension reform
KW  - program evaluation
        ER  -