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- ISIDORE Id: 10670/1.d8bb4d...
- hal: hal-04814517
- doi: 10.2307/48777888
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info:eu-repo/semantics/altIdentifier/doi/10.2307/48777888
info:eu-repo/semantics/OpenAccess
Mots-clés
Pension Reform Unemployment Benefits Older Workers’ Employment J - Labor and Demographic Economics/J.J1 - Demographic Economics/J.J1.J14 - Economics of the Elderly • Economics of the Handicapped • Non-Labor Market Discrimination J - Labor and Demographic Economics/J.J2 - Demand and Supply of Labor/J.J2.J26 - Retirement • Retirement Policies J - Labor and Demographic Economics/J.J3 - Wages, Compensation, and Labor Costs/J.J3.J38 - Public PolicySujets proches
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Sarah Le Duigou et al., « The influence of unemployment insurance rules on employment effects of pension reforms », HAL SHS (Sciences de l’Homme et de la Société), ID : 10.2307/48777888
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Résumé
This paper examines how unemployment insurance rules influence the employment effects of pension reforms prior to retirement. We develop a job-search model with a finite horizon introducing age-specific unemployment insurance rules and endogenous separations. The latter result from the employer's decision to offer a mutually agreed termination after an adverse productivity shock and from the worker's choice to accept the offer. We estimate the structural parameters of the model using French data on quarterly job separation and finding rates for workers aged 55-59 years. The model fits the data at more than 99%. It allows to reproduce the observed peak in employment outflows when the distance to the legal retirement age equals the potential benefit duration of the UI system. We demonstrate that combining an increase in the retirement age with a reduction in the generosity of the unemployment insurance scheme is an efficient policy for raising older workers' employment rates. We also put forward that the horizon effect, i.e. the positive effect of a rise in the legal retirement age on employment prior to retirement, is greater when the job-search requirements are low or when the potential benefit duration is high.
