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A Disaggregated, Structural Analysis of Retirement by Race, Difficulty of Work and Health

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  • Alan L. Gustman
  • Thomas L. Steinmeier

Abstract

Intergroup differences in retirement rates by race, major occupation and health status are examined and allocated to differences in budget sets and indifference curve parameters. In addition, comparisons indicate that average retirement rates for groups may, at times, be misleading indicators of marginal responses to incentives. It is predicted that all groups will respond to the work incentives in the 1983 Social Security Amendments, even those ill health and difficult jobs, and the resulting increases in earnings are predicted to amount to from one sixth to over one half of the reductionin lifetime benefits created by the amendments.

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File URL: http://www.nber.org/papers/w1585.pdf
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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 1585.

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Date of creation: Mar 1985
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Publication status: published as Gustman, Alan and Thomas Steinmeier, "A Disaggregated, Structural Analysisof Retirement by Race, Difficulty of Work and Health," Review of Economics and Statistics, Vol. 68, No. 3, August 1986, pp. 509-513.
Handle: RePEc:nbr:nberwo:1585

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  1. Alan L. Gustman & Thomas L. Steinmeier, 1986. "A Structural Retirement Model," NBER Working Papers 1237, National Bureau of Economic Research, Inc.
  2. Alan L. Gustman & Thomas L. Steinmeier, 1985. "Partial Retirement and Wage Profiles of Older Workers," NBER Working Papers 1000, National Bureau of Economic Research, Inc.
  3. Lee, Lung-Fei, 1982. "Health and Wage: A Simultaneous Equation Model with Multiple Discrete Indicators," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(1), pages 199-221, February.
  4. Alan L. Gustman, 1984. "Modeling Individuals' Behavior: Evaluation of a Policymaker's Tool," NBER Working Papers 1223, National Bureau of Economic Research, Inc.
  5. Jonathan S. Leonard, 1979. "The Social Security Disability Program and Labor Force Participation," NBER Working Papers 0392, National Bureau of Economic Research, Inc.
  6. Alan L. Gustman & Thomas L. Steinmeier, 1984. "Partial retirement and the analysis of retirement behavior," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 37(3), pages 403-415, April.
  7. Parsons, Donald O, 1984. "Disability Insurance and Male Labor Force Participation: A Response," Journal of Political Economy, University of Chicago Press, vol. 92(3), pages 542-49, June.
  8. Parsons, Donald O, 1982. "The Male Labour Force Participation Decision: Health, Reported Health, and Economic Incentives," Economica, London School of Economics and Political Science, vol. 49(193), pages 81-91, February.
  9. Haveman, Robert H. & Wolfe, Barbara L., 1984. "Disability transfers and early retirement: a casual relationship?," Journal of Public Economics, Elsevier, vol. 24(1), pages 47-66, June.
  10. Haveman, Robert H & Wolfe, Barbara L, 1984. "The Decline in Male Labor Force Participation: Comment," Journal of Political Economy, University of Chicago Press, vol. 92(3), pages 532-41, June.
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Cited by:
  1. Alan L. Gustman & Thomas L. Steinmeier, 1989. "Evaluating Pension Policies in a Model with Endogeous Contributions," NBER Working Papers 3085, National Bureau of Economic Research, Inc.
  2. Alan L. Gustman & Thomas L. Steinmeier, 1993. "Employer Provided Health Insurance and Retirement Behavior," NBER Working Papers 4307, National Bureau of Economic Research, Inc.
  3. Erik Meijer & Arie Kapteyn & Tatiana Andreyeva, 2008. "Health Indexes and Retirement Modeling in International Comparisons," Working Papers 614, RAND Corporation Publications Department.
  4. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers 01-09, RAND Corporation Publications Department.
  5. Pelkowski, Jodi Messer & Berger, Mark C., 2004. "The impact of health on employment, wages, and hours worked over the life cycle," The Quarterly Review of Economics and Finance, Elsevier, vol. 44(1), pages 102-121, February.
  6. Michael Hurd & Kathleen McGarry, 1993. "The Relationship Between Job Characteristics and Retirement," NBER Working Papers 4558, National Bureau of Economic Research, Inc.

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