TY  - RPRT
        AU  - Merz, Joachim
        TI  - Are Retirees More Satisfied? Anticipation and Adaptation Effects: A Causal Panel Analysis of German Statutory Insured and Civil Service Pensioners
        PY  - 2022/Mar/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 15140
        UR  - https://www.iza.org/publications/dp15140
        AB  - This study contributes to the subjective well-being and retirement literature by quantifying life satisfaction before (4) and after retirement (9+) periods asking: Are retirees more satisfied? Fixed-effects and causal instrumental variables (IV) estimates with individual longitudinal data of the Socio-Economic Panel (SOEP, 33 waves) analyze anticipation and adaptation retirement effects of statutory insured and civil service pensioners in Germany.
Main findings: The occupational situation absorbs a positive personal and family influence. There are positive anticipation effects before retirement followed by adaptation instantly when retired both for statutory insured and civil service pensioners. With neutral respectively negative post-retirement adaptation there is no positive retirement effect for both pensioner groups. In short: retirees are not more satisfied, a remarkable result both for statutory insured and civil service pensioners.
        KW  - retirement
KW  - statutory insured and civil service pensioners
KW  - life satisfaction/subjective well-being
KW  - anticipation and adaptation effects
KW  - robust fixed-effect regression
KW  - causality IV estimates
KW  - Socio-Economic Panel (SOEP)
KW  - Germany
        ER  -