Retirement Income and Labor Supply PDF Download

Author: Marian Vandewater Brown
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 412

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Author:
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 53

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Author: Robin L. Lumsdaine
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 104

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Book Description
Recent policy has focused on alleviating poverty among the elderly, with varying degrees of success. Gains to some subsets of the elderly population have come at the expense of others. A component of the policy debate has been identifying factors which might influence labor force participation decisions and the effects such decisions will have on retirement income and its adequacy for a growing elderly population. While models of retirement behavior are becoming increasingly sophisticated, most fail to capture key elements such as expectations and uncertainty. This is in part due to the reduced form nature of policy experiments; parameters are estimated under a current policy and used to predict effects of an alternative scenario. Such an approach implicitly assumes that the only difference in the alternative setting is the change in policy and does not adequately account for endogeneity of decisions and responses to these changes. This paper reviews factors affecting the labor supply decision, their interactions with and implications for subsequent retirement income, and identifies important methods and data requirements necessary to model complicated dynamic behavior more accurately.

Author: Panel on Retirement Income Modeling
Publisher: National Academies Press
ISBN: 0309589533
Category : Social Science
Languages : en
Pages : 288

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Book Description
This book brings together in one volume what researchers have learned about workers, employers, and retirees that is important for formulating retirement income policies. As the U.S. population ages, there is increasing uncertainty about the solvency of the Social Security and Medicare systems and the adequacy of private pensions to provide for people's retirement needs. The volume covers such critical behaviors as workers' decisions to retire, people's choices of saving over consumption, and employers' decisions about hiring older workers and providing pension and health care benefits. Also covered are trends in mortality, health status, and health care costs that are key to projecting the likely costs and effects of alternative retirement income security policies and a strategy for combining data and research knowledge into a policy modeling framework.

Author: Alicia H. Munnell
Publisher: Rowman & Littlefield
ISBN: 0815701454
Category : Business & Economics
Languages : en
Pages : 218

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Book Description
Daily headlines warn American workers that their retirement years may be far from golden. The main components of the retirement income system—Social Security and employer-provided pensions and health insurance—are in decline while the amount of income needed for a comfortable retirement continues to rise. In Working Longer, Alicia Munnell and Steven Sass suggest a simple solution to this problem: postponing retirement by two to four years. By following their advice, the average worker retiring in 2030 can be as well off as today's retirees. Implementing this solution on a national scale, however, may not be simple. Working Longer investigates the prospects for moving the average retirement age from 63, the current figure, to 66. Munnell and Sass ask whether future generations will be healthy enough to work beyond the current retirement age and whether older men and women want to work. They examine companies' incentives to employ older works and ask what government can do to promote continued participation in the workforce. Finally, they consider the challenge of ensuring a secure retirement for low-wage workers and those who are unable to continue to work. The retirement system faces very real challenges. But together, workers, employers, and the government can keep this vital piece of the American dream alive.

Author: Hui He
Publisher: International Monetary Fund
ISBN: 1498302890
Category : Business & Economics
Languages : en
Pages : 59

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We study, both empirically and quantitatively, the role of savings and the labor supply in self-insurance channels over the life cycle when one faces not only idiosyncratic income risks, but also changes in longevity risk and pension benefits. We pick China as a case study since China has undergone a dramatic process of rapid aging and a tremendous reduction in social security benefits for the period 1995-2009. We find that both savings and the labor supply are quantitatively important self-insurance channels in responding to changes in longevity risk and pension benefits, and the responses via adjustment to savings and labor supply have significant macroeconomic implications. Applying the model to China, we find that the pension reform and rapid aging together contribute 55 percent of the increase in the household saving rate from 1995 to 2009, and they jointly capture about 64 percent of the drastic increase in the labor supply for the same period.

Author: Gary Burtless
Publisher: Brookings Institution Press
ISBN: 9780815719670
Category : Business & Economics
Languages : en
Pages : 308

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Book Description
Contents include: Introduction and Summary Public Policy Implications of Declining Old-Age Mortality Aging the Ability to Work: Policy Issues and Recent Trends Occupational Effects on the Health and Work Capacity of Older Men Involuntary Early Retirement and Consumption Life-Cycle Labor Supply and Social Security: A Time-Series Analysis Life Insurance of the Elderly: Its Adequacy and Determinant

Author: Selahattin Imrohoroglu
Publisher: DIANE Publishing
ISBN: 1437930913
Category : Political Science
Languages : en
Pages : 37

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This is a print on demand edition of a hard to find publication. A general equilibrium model of overlapping generations that incorporates endogenous saving, labor force participation, work hours, and Social Security (SS) benefit claims. Three SS reforms are studied: 1) a reduction in benefits and payroll taxes; 2) an increase in the earliest retirement age, to 64 from 62; and 3) an increase in the normal retirement age, to 68 from 66. A 50% cut in the scope of the current system significantly raises asset holdings and the labor input, through higher participation of older workers, and reduces the shortfall of the SS budget. Increasing the normal retirement age also raises saving and the labor supply, but the effects are smaller. Postponing the earliest retirement age has only a negligible effect. Charts and tables.

Author: Henry J. Aaron
Publisher: Washington, D.C. : Brookings Institution
ISBN:
Category : Business & Economics
Languages : en
Pages : 376

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Book Description
Conference papers on economic implications and aspects of retirement in the USA - examines the effects of private pension schemes and maintenance of acquired rightss, the correlation between early retirement and health, social security, and unemployment, the labour force participation of retired workers, standard of living and housing of older people, effect of population dynamics on old age benefit policy, saving behaviour, and retirement income projections to 2020. References. Conference held in Washington 1982 Oct 21 and 22.

Author: Claudia Goldin
Publisher: University of Chicago Press
ISBN: 022653264X
Category : Business & Economics
Languages : en
Pages : 326

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Book Description
Today, more American women than ever before stay in the workforce into their sixties and seventies. This trend emerged in the 1980s, and has persisted during the past three decades, despite substantial changes in macroeconomic conditions. Why is this so? Today’s older American women work full-time jobs at greater rates than women in other developed countries. In Women Working Longer, editors Claudia Goldin and Lawrence F. Katz assemble new research that presents fresh insights on the phenomenon of working longer. Their findings suggest that education and work experience earlier in life are connected to women’s later-in-life work. Other contributors to the volume investigate additional factors that may play a role in late-life labor supply, such as marital disruption, household finances, and access to retirement benefits. A pioneering study of recent trends in older women’s labor force participation, this collection offers insights valuable to a wide array of social scientists, employers, and policy makers.