Do buy‐outs of older workers matter?: Estimating retirement behavior with special early retirement offers

摘要: Purpose – This paper aims to look at model retirement behavior with a focus on early where there is an option for “buy‐outs”. An employer can offer employees generous pension programs if the agree retirement. Earlier studies have neglected such offers, but in doing so, estimates of individuals' responses financial incentives decision are likely be biased upward.Design/methodology/approach The authors propose estimation strategy and accesses (ERP) offers estimated simultaneous equation system, yielding unbiased parameters. They apply using detailed Swedish register data.Findings results indicate that marginal effects probability respect change less pronounced ERPs accounted for. Further, imply probabilities would decrease, depending year, by...