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A Structural Retirement Model
Open accessAbstract
The model analyzed here constrains most work on the main job to be full time.Partial retirement requires a job change and a wage reduction.Estimates of utility function parameters and their distributions incorporate information on age of leaving the main job and of full retirement.These estimates determine the slope at different ages and the convexity of within period indifference curves between ctpensation and leisure.Even though age specific dunmiy variables are not used, the model closely tracks retirement behavior.Policy analysis based on earlier models with simpler structures is shown to be misleading.
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Citations
Cited by
Pensions, The Option Value of Work, and Retirement
Stock, J., & Wise, D. (1988) · National Bureau of Economic Research · doi:10.3386/w2686 · Cited by 555
Job Loss and Employment Patterns of Older Workers
Chan, S., & Huff Stevens, A. (2001) · Journal of Labor Economics · doi:10.1086/319568 · Cited by 441
Health, longevity and retirement reform
Laun, T., Markussen, S., Vigtel, T. C., & Wallenius, J. (2019) · Journal of Economic Dynamics and Control · doi:10.1016/j.jedc.2019.03.004 · Cited by 29
Transitions between states of labor-force participation among older Israelis
Achdut, L., Tur-Sinai, A., & Troitsky, R. (2015) · European Journal of Ageing · doi:10.1007/s10433-014-0328-6 · Cited by 24
Myck, M. (2015) · European Journal of Ageing · doi:10.1007/s10433-014-0332-x · Cited by 20
The Long Reach of Education: Early Retirement
Venti, S., & Wise, D. (2014) · doi:10.3386/w20740 · Cited by 3
Metadata
- Authors
- Gustman, A., & Steinmeier, T.
- Venue
- National Bureau of Economic Research
- Publisher
- National Bureau of Economic Research
- Published
- 1983-11
- OpenAlex
- W3023649487
- Cited by
- 274
- References
- 0
- Type
- report
- Language
- en
- Open access
- green
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