Postponing retirement age and labor force participation : the role of family transfers
AbstractIn this paper, we examine the consequences of delaying retirement in an overlapping generations model with domestic production and parental transfers in the form of grandchild care. We show that a change in age at retirement influences the employment rates of both young and the old. This interdependency stems from the provision of family transfers. Postponing retirement may increase time devoted to grandchild care transfers, which allows the young to work more on the labour market. We then study the conditions under which this positive family externality holds. Finally, using numerical simulations, we assess the consequences of delaying retirement on labour participation and account for public policy implications
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Bibliographic InfoPaper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (REL - Recherches Economiques de Louvain) with number 2010041.
Date of creation: 01 Dec 2010
Date of revision:
Retirement; domestic production; family transfers;
Other versions of this item:
- Pascal Belan & Pierre-Jean Messe & François-Charles Wolff, 2010. "Postponing retirement age and labor force participation: the role of family transfers," Recherches économiques de Louvain, De Boeck Université, vol. 76(4), pages 347-370.
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
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