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Is Mandatory Retirement Overrated? Evidence from the 1970s

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  • Richard V. Burkhauser
  • Joseph F. Quinn

Abstract

In this paper we argue that mandatory retirement is only one aspect of a much broader system that influences an individual's retirement decision. We look at responses over time to variations in mandatory retirement rules faced by a sample of private-sector workers aged 62-64 in 1973. This is done within a model that specifically includes the economic incentives present in Social Security and pension systems. We find that the impact of a mandatory retirement rule on work is considerably smaller than a simple comparison of those with and without mandatory retirement would imply.

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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Journal of Human Resources.

Volume (Year): 18 (1983)
Issue (Month): 3 ()
Pages: 337-358

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Handle: RePEc:uwp:jhriss:v:18:y:1983:i:3:p:337-358

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Web page: http://jhr.uwpress.org/

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Cited by:
  1. Bound, John & Stinebrickner, Todd & Waidmann, Timothy, 2010. "Health, economic resources and the work decisions of older men," Journal of Econometrics, Elsevier, vol. 156(1), pages 106-129, May.
  2. Phillip B. Levine & Olivia S. Mitchell, 1991. "Expected Changes in the Workforce and Implications for Labor Markets," NBER Working Papers 3743, National Bureau of Economic Research, Inc.
  3. Adams, Scott J., 2004. "Age discrimination legislation and the employment of older workers," Labour Economics, Elsevier, vol. 11(2), pages 219-241, April.
  4. Steven Stern & Petra Todd, 2000. "A Test Of Lazear’S Mandatory Retirement Model," Virginia Economics Online Papers 391, University of Virginia, Department of Economics.
  5. Clark, Randolph Lee & Anker R, 1989. "Labour force participation rates of older persons: an international comparison," ILO Working Papers 272881, International Labour Organization.

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