Simulating the effects of increasing regular retirement age to 67 on the supply of labor in Austria

The study simulates the labor supply effects of an increase in the regular retirement age from 65 to 67 in the period from 2034 to 2037 in Austria using the dynamic microsimulation model microDEMS. This study is a follow-up of the study “Older people on the labor market: a forecast up to 2040 as a basis for economic policy measures” which combines demographic projections with models of transitions between labour market conditions (unemployment, employment, and jobless positions) and their interactions with socio-demographic characteristics and health status.

• Organizations: Austrian Institute of Economic Research (WIFO)

• Funding: This 2023 project was funded by the Austrian Chamber of Commerce