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| Author: | Kyyrä, T. Wilke, R.A. |
| Title: | Reduction in the long-term unemployment of the elderly: A success story from Finland |
| Journal: | Journal of the European Economic Association
2007 : MAR, VOL. 5:1, p. 154-182 |
| Index terms: | employment old people success Finland Nordic countries |
| Language: | eng |
| Abstract: | In many European countries, the elderly unemployed are allowed to collect unemployment (here as: un-empl.) benefits up to a certain age limit before early retirement scheme. In Finland, the eligibility age of persons benefiting from the scheme was changed in 1997 from 53 to 55 years. This paper considers layoff risks, un-empl. durations, and the exit states before and after the reform. Since the reform, the group aged 53-54 has had a lower risk of un-empl., shorter un-empl. durations, and higher exit rates to employment, being almost indistinguishable from the age group 50-52. Due to the reform, the amount of un-empl. benefits saved is estimated close to EUR 100 million for each age cohort turning 53. |
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