International Economics
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Forward-Looking Labor Supply Responses to Changes in Pension Wealth: Evidence from Germany

Nicola Fuchs-Schündeln, Goethe University Frankfurt
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As part of the Vilfredo Pareto Research Seminar series, the International Economics Department at the Geneva Graduate Institute is pleased to invite you to a public talk given by Nicola Fuchs-Schündeln, of Goethe University Frankfurt.

Geneva Graduate Institute, Maison de la paix, Room S4

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Forward-Looking Labor Supply Responses to Changes in Pension Wealth: Evidence from Germany, joint with Elisabeth Artmann and Giulia Giupponi

Abstract: 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.


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