Benefit Generosity and the Income Effect on Labour Supply: Quasi‐Experimental Evidence
利用乌克兰法定最低养老金意外翻倍的自然实验，估计了养老金收入对老年人劳动供给的纯因果效应，发现退休半弹性为0.1-0.2，男女调整方式不同但总体效果相似。
This study uses an unanticipated, exogenous doubling of the legal minimum pension in Ukraine as a unique quasi-experiment to evaluate the income effect on various aspects of labour supply among the elderly. In contrast to previous studies, the unusually simple pension eligibility rule allows estimating a pure causal income effect. Applying reduced form difference-in-differences and regression discontinuity as well as instrumental variable methods on two nationally representative data sets yields a retirement semi-elasticity of 0.1-0.2. Men and women respond at different margins of labour supply but with similar overall effect.