Work

How Does Job Loss Affect the Timing of Retirement?

Year: 2002

Type: report

Abstract: We use the Health and Retirement Study to examine the effects of job loss on factors affecting retirement incentives, including earnings, assets and pensions.We then estimate models of the retirement decision, which take into account the incentive to retire and any additional effects of displacement that are not captured by retirement incentives.There are substantial effects of displacement on retirement incentives as the result of changes to both earnings and pensions.Displacement significantly increases the probability of retirement, but only a small fraction of the displacement-induced changes in retirement behavior and labor force participation are the result of workers responding to these altered retirement incentives.

Source: National Bureau of Economic Research

DOI: 10.3386/w8780

Authors: Sewin Chan, Ann Huff Stevens

Institutions: National Bureau of Economic Research, Yale University, New York University, Rutgers, The State University of New Jersey, Princeton University

Language: English

Topic: Retirement, Disability, and Employment

Subfield: Demography

Field: Social Sciences

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

Funder: National Science Foundation