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Early Retirement Windows

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Author Info
Charles Brown (University of Michigan, National Bureau of Economic Research)

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Abstract

What happens to the employment status and earnings of workers who accept earlyretirement windows? Using data from the first six waves of HRS (1992-2002) I find that those who accepted window offers experience a sharp decline in employment - most do not go to work elsewhere. Those who do accept jobs elsewhere work fewer hours and receive significantly lower earnings per hour. Transitions to self-employment are more common among window acceptors than other workers.

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File URL: http://www.mrrc.isr.umich.edu/publications/Papers/pdf/wp064.pdf
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Publisher Info
Paper provided by University of Michigan, Michigan Retirement Research Center in its series Working Papers with number wp064.

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Length: 12 pages
Date of creation: Dec 2003
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Handle: RePEc:mrr:papers:wp064

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Gustman, A.L. & Mitchell, O.S. & Steinmeier, T.L., 1993. "The Role of Pensions in the Labor Market," Papers 93-07, Cornell - Center for Advanced Human Resource Studies.
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  2. Charles Brown, 2002. "Early Retirement Windows," Working Papers wp028, University of Michigan, Michigan Retirement Research Center. [Downloadable!]
    Other versions:
  3. Robin L. Lumsdaine & James H. Stock & David A. Wise, 1990. "Efficient Windows and Labor Force Reduction," NBER Working Papers 3369, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Leora Friedberg & Michael Owyang, 2004. "Explaining the Evolution of Pension Structure and Job Tenure," NBER Working Papers 10714, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. John Laitner & Dan Silverman, 2007. "Life-Cycle Models: Lifetime Earnings and the Timing of Retirement," Working Papers wp165, University of Michigan, Michigan Retirement Research Center. [Downloadable!]
  3. Randall Filer & Marjorie Honig, 2005. "Endogenous Pensions and Retirement Behavior," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  4. Hallberg, Daniel, 2008. "Economic fluctuations and retirement of older employees," Working Paper Series 2008:2, IFAU - Institute for Labour Market Policy Evaluation. [Downloadable!]
  5. Alan L. Gustman & Thomas L. Steinmeier, 2004. "Minimum Hours Constraints, Job Requirements and Retirement," NBER Working Papers 10876, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Charles Brown, 2003. "Early Retirement Windows," Working Papers wp064, University of Michigan, Michigan Retirement Research Center. [Downloadable!]
    Other versions:
  7. Coe, Norma B. & Lindeboom, Maarten, 2008. "Does Retirement Kill You? Evidence from Early Retirement Windows," IZA Discussion Papers 3817, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  8. Alan L. Gustman & Olivia S. Mitchell & Thomas L. Steinmeier, 1994. "Retirement Research Using the Health and Retirement Survey," NBER Working Papers 4813, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  9. John Laitner, 2003. "Labor Supply Responses to Social Security," Working Papers wp050, University of Michigan, Michigan Retirement Research Center. [Downloadable!]
  10. Andrew E. Clark & Yarine Fawaz, 2009. "Valuing jobs via retirement: European evidence," PSE Working Papers 2009-18, PSE (Ecole normale supérieure). [Downloadable!]
  11. Alan L. Gustman & Thomas L. Steinmeier, 2004. "How to Evaluate the Effects of Social Security Policies on Retirement and Saving When Firm Policies Affect the Opportunities Facing Older Individuals," Working Papers wp078, University of Michigan, Michigan Retirement Research Center. [Downloadable!]
  12. Leora Friedberg & Anthony Webb, 2003. "Retirement and the Evolution of Pension Structure," NBER Working Papers 9999, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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