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Employment and Retirement Following a Late-Career Job Loss

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  • Ann Huff Stevens
  • Sewin Chan

Abstract

The frequency of job loss among workers in late career has risen disproportionately in recent years. The effects of job loss on these workers are potentially severe: their earnings capacity, savings, and retirement expectations are likely to be dramatically affected and they may take substantially longer to be re-employed. However, despite these reasons for heightened concern, relatively little is known about the economic consequences of late career job loss among recent cohorts of workers. This paper presents findings from an ongoing research project using the Health and Retirement Study that focuses on the economic impacts of late career job loss on employment and retirement patterns, as well as on earnings and assets.

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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 89 (1999)
Issue (Month): 2 (May)
Pages: 211-216

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Handle: RePEc:aea:aecrev:v:89:y:1999:i:2:p:211-216

Note: DOI: 10.1257/aer.89.2.211
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References

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  1. Stock, James H & Wise, David A, 1990. "Pensions, the Option Value of Work, and Retirement," Econometrica, Econometric Society, vol. 58(5), pages 1151-80, September.
  2. Kathryn Anderson & Richard V. Burkhauser & Joseph F. Quinn, 1986. "Do retirement dreams come true? The effect of unanticipated events on retirement plans," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 39(4), pages 518-526, July.
  3. Sewin Chan & Ann Huff Stevens, 1999. "Job Loss and Retirement Behavior of Older Men," NBER Working Papers 6920, National Bureau of Economic Research, Inc.
  4. John Rust, 1987. "A Dynamic Programming Model of Retirement Behavior," NBER Working Papers 2470, National Bureau of Economic Research, Inc.
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Cited by:
  1. Kenneth A. Couch & Dana W. Placzek, 2010. "Earnings Losses of Displaced Workers Revisited," American Economic Review, American Economic Association, vol. 100(1), pages 572-89, March.
  2. Courtney Coile & Phillip B. Levine, 2009. "The Market Crash and Mass Layoffs: How the Current Economic Crisis May Affect Retirement," NBER Working Papers 15395, National Bureau of Economic Research, Inc.
  3. Robert W. Fairlie & Harry A. Krashinsky, 2012. "Liquidity Constraints, Household Wealth, And Entrepreneurship Revisited," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 58(2), pages 279-306, 06.
  4. Paul Marmora & Moritz Ritter, 2014. "Unemployment and the Retirement Decisions of Older Workers," DETU Working Papers 1401, Department of Economics, Temple University.
  5. Koeber, Charles & Wright, David W., 2001. "W/age bias in worker displacement: how industrial structure shapes the job loss and earnings decline of older American workers," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 30(4), pages 343-352.
  6. Courtney C. Coile & Phillip B. Levine, 2007. "Labor market shocks and retirement: Do government programs matter?," NBER Chapters, in: Trans-Atlantic Public Economics Seminar (TAPES), Public Policy and Retirement, pages 1902-1919 National Bureau of Economic Research, Inc.
  7. Filges, Trine & Larsen, Mona & Pedersen, Peder J., 2012. "Retirement: Does Individual Unemployment Matter? Evidence from Danish Panel Data 1980–2009," IZA Discussion Papers 6538, Institute for the Study of Labor (IZA).
  8. Daniel, Kirsten & Heywood, John S., 2007. "The determinants of hiring older workers: UK evidence," Labour Economics, Elsevier, vol. 14(1), pages 35-51, January.
  9. Koeber, Charles & Wright, David W., 2006. "Gender differences in the reemployment status of displaced workers human capital as signals that mitigate effects of bias," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(5), pages 780-796, October.
  10. Parsons, Donald O., 2014. "Job Displacement Insurance: An Overview," IZA Discussion Papers 8223, Institute for the Study of Labor (IZA).
  11. Tatsiramos, Konstantinos, 2010. "Job displacement and the transitions to re-employment and early retirement for non-employed older workers," European Economic Review, Elsevier, vol. 54(4), pages 517-535, May.
  12. Janine Murphy, 2005. "Health promotion," Economic Roundup, Treasury, Australian Government, issue 3, pages 13-38, September.
  13. Carrington, William J. & Fallick, Bruce C., 2014. "Why Do Earnings Fall with Job Displacement?," Working Paper 1405, Federal Reserve Bank of Cleveland.
  14. Alicia H. Munnell & Steven A. Sass & Mauricio Soto, 2006. "Employer Attitudes towards Older Workers: Survey Results," Work Opportunity Briefs wob_3, Center for Retirement Research.
  15. Eichhorst, Werner & Boeri, Tito & Braga, Michela & De Coen, An & Galasso, Vincenzo & Gerard, Maarten & Kendzia, Michael J. & Mayrhuber, Christine & Pedersen, Jakob Louis & Schmidl, Ricarda & Steiber, , 2013. "Report No. 53: Combining the Entry of Young People in the Labour Market with the Retention of Older Workers," IZA Research Reports 53, Institute for the Study of Labor (IZA).
  16. Malul, Miki, 2009. "Older workers' employment in dynamic technology changes," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(5), pages 809-813, October.

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