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Minimum Hours Constraints, Job Requirements and Retirement

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  • Alan L. Gustman
  • Thomas L. Steinmeier

Abstract

A structural retirement model estimated with data from the Health and Retirement Study is used to simulate the effects of policies firms might adopt to improve employment conditions for older workers and thereby encourage delayed retirement. Firm policies that effectively abolished minimum hours constraints would strongly increase the number partially retired, while reducing full time work and full retirement, resulting in only a small net increase in full-time equivalent employment. Reducing physical and mental requirements of jobs would have much weaker effects on retirement than was suggested by work with the 1970s Retirement History Study. Reducing informal pressures to retire, increasing employer accommodations to health problems, and reducing the prevalence of layoffs and retirement windows would have only small effects on retirement outcomes.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 10876.

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Date of creation: Nov 2004
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Publication status: published as Alan L. Gustman and Thomas L. Steinmeier. "Projecting Behavioral Responses to the Next Generation of Retirement Policies". Research in Labor Economics, Vol. 28, 2008, pp. 141-196.
Handle: RePEc:nbr:nberwo:10876

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  1. Alan L. Gustman & Thomas L. Steinmeier, 2003. "Retirement Effects of Proposals by the President’s Commission to Strengthen Social Security," Working Papers, University of Michigan, Michigan Retirement Research Center wp038, University of Michigan, Michigan Retirement Research Center.
  2. Alan Gustman & Olivia S. Mitchell & Thomas L. Steinmeier, . "Retirement Measures in the Health and Retirement Survey," Pension Research Council Working Papers, Wharton School Pension Research Council, University of Pennsylvania 94-2, Wharton School Pension Research Council, University of Pennsylvania.
  3. William Even & David Macpherson, 2004. "Do Pensions Impede Phased Retirement?," Labor and Demography, EconWPA 0407001, EconWPA.
  4. Joseph F. Quinn, 1999. "Has the Early Retirement Trend Reversed?," Boston College Working Papers in Economics, Boston College Department of Economics 424, Boston College Department of Economics.
  5. Charles Brown, 2003. "Early Retirement Windows," Working Papers, University of Michigan, Michigan Retirement Research Center wp064, University of Michigan, Michigan Retirement Research Center.
  6. Roger H. Gordon & Alan S. Blinder, 1980. "Market Wages, Reservation Wages, and Retirement Decisions," NBER Working Papers 0513, National Bureau of Economic Research, Inc.
  7. Michael D. Hurd, 1993. "The Effect of Labor Market Rigidities on the Labor Force Behavior of Older Workers," NBER Working Papers 4462, National Bureau of Economic Research, Inc.
  8. Chan, Sewin & Stevens, Ann Huff, 2001. "Job Loss and Employment Patterns of Older Workers," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 19(2), pages 484-521, April.
  9. John Bound, 1989. "The Health and Earnings of Rejected Disability Insurance Applicants," NBER Working Papers 2816, National Bureau of Economic Research, Inc.
  10. Alan L. Gustman & Thomas L. Steinmeier, 1982. "Minimum Hours Constraints and Retirement Behavior," NBER Working Papers 0940, National Bureau of Economic Research, Inc.
  11. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers, RAND Corporation Publications Department 01-09, RAND Corporation Publications Department.
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Cited by:
  1. Fouarge D. & Grip A. de & Montizaan R.M., 2013. "How sensitive are individual retirement expectations to raising the retirement age?," ROA Research Memorandum, Maastricht University, Research Centre for Education and the Labour Market (ROA) 006, Maastricht University, Research Centre for Education and the Labour Market (ROA).
  2. Elisabetta Magnani, 2012. "Older Workers' Training Opportunities in Times of Workplace Innovation," Working Papers, ARC Centre of Excellence in Population Ageing Research (CEPAR), Australian School of Business, University of New South Wales 201205, ARC Centre of Excellence in Population Ageing Research (CEPAR), Australian School of Business, University of New South Wales.
  3. Catherine Pollak & Nicolas Sirven, 2011. "The social economy of ageing : Job quality and pathways beyond the labour market in Europe," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL halshs-00639928, HAL.
  4. Hamermesh, Daniel S., 2006. "The Time and Timing Costs of Market Work, and their Implications for Retirement," IZA Discussion Papers 2030, Institute for the Study of Labor (IZA).
  5. Daniel S. Hamermesh & Stephen Donald, 2007. "The Time and Timing Costs of Market Work," NBER Working Papers 13127, National Bureau of Economic Research, Inc.
  6. Gielen, Anne C., 2007. "Working Hours Flexibility and Older Workers' Labor Supply," IZA Discussion Papers 2946, Institute for the Study of Labor (IZA).
  7. Nikolaus Graf & Helmut Hofer & Rudolf Winter-Ebmer, 2009. "Labour Supply Effects of a Subsidised Old-Age Part-Time Scheme in Austria," Economics working papers, Department of Economics, Johannes Kepler University Linz, Austria 2009-06, Department of Economics, Johannes Kepler University Linz, Austria.
  8. C. Sofia Machado & Miguel Portela, 2011. "Hours of work and retirement behavior," NIPE Working Papers, NIPE - Universidade do Minho 02/2011, NIPE - Universidade do Minho.
  9. Daniel S. Hamermesh, 2005. "Why Not Retire? The Time and Timing Costs of Market Work," Working Papers, University of Michigan, Michigan Retirement Research Center wp104, University of Michigan, Michigan Retirement Research Center.
  10. Karen Kopecky, 2005. "The Trend in Retirement," Economie d'Avant Garde Research Reports, Economie d'Avant Garde 12, Economie d'Avant Garde.
  11. Maciej Lis & Agnieszka Kamińska & Aart-Jan Riekhoff & Izabela Styczynska, 2013. "The Impact of Institutional and Socio-Ecological Drivers on Activity at Older Ages," CASE Network Reports, CASE-Center for Social and Economic Research 0115, CASE-Center for Social and Economic Research.
  12. repec:hal:journl:halshs-00639928 is not listed on IDEAS
  13. Eichhorst, Werner & Gerard, Maarten & Kendzia, Michael J. & Mayrhuber, Christine & Nielsen, Conny & Rünstler, Gerhard & Url, Thomas, 2011. "Report No. 42: Pension Systems in the EU – Contingent Liabilities and Assets in the Public and Private Sector," IZA Research Reports, Institute for the Study of Labor (IZA) 42, Institute for the Study of Labor (IZA).

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