Vliv výdělkového testu na pracovní aktivitu starobních důchodců

The author analyzes the effects associated with the introduction in the Czech Republic of a socalled earnings or retirement test – which imposes high effective tax rates on workers at or near the state pension age who earn above a certain income threshold – on the labor supply of older Czech males in 1996. Using data from the Labor Force Survey, the author applies a „differencein- differences“ estimator to measure the effect of policy change on the Czech pension scheme using a sample of retired males aged 60 to 64 in 1995 and 1996. The author uses an age group not subject to the earnings test to separate the effect associated with its implementation. Correcting for sample selection, the results indicate that the earnings test decreased the labor supply of the retired males affected by the policy change. The government’s net revenue from the introduction of the earnings test was positive in 1996, but has decreased since. The positive effect for the state budget has diminished as relatively more pensioners have been potentially affected by the earnings test.