Labor Market Eects of the Early Retirement Age Day Manoli Andrea - PowerPoint PPT Presentation

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3A. Claiming & Job Exiting Ages by Cohort, Men Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Fig. 3B. Claiming & Job Exiting Ages by Cohort, Women Notes: Each histogram plots the distribution of claiming ages where claiming age is computed at a quarterly frequency based on time between an individual’s birth date and pension claiming date. Birth cohort is also computed at a quarterly frequency; each plot includes individuals who were born in the first quarter of the specified birth year. Vertical red lines denote Early Retirement Ages.

Empirical Evidence on Individuals’ Responses Pre-reform: pension claims & job exits by age 1 Establish importance of ERA Cohorts a¤ected by reforms: changes in claiming and exiting ages 2 Impacts reforms Substitution to alternative pathways Persistence of responses Elasticity estimation Spillover E¤ects 3 Responses of a¤ected and exempt individuals Manoli and Weber () E¤ects of ERA February 2013 7 / 14

Fig. 4A. Substitution to Alternative Pathways: Men Exiting at Age ≥ 60

Fig. 4B. Substitution to Alternative Pathways: Men Exiting at Age == 60

Fig. 4C. Substitution to Alternative Pathways: Women Exiting at Age ≥ 55

Fig. 4D. Substitution to Alternative Pathways: Women Exiting at Age = 55

Fig. 5. Fraction Claiming Disability Pensions by Birth Cohort A. Men B. Women Notes: Disability pension claims are specified based on the types of social security pensions claimed. Birth cohort is computed at a quarterly frequency.