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Retirement Age across Countries: The Role of Occupations

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  • Philip Ulrich Sauré
  • Hosny Zoabi

Abstract

Cross-country variation in average retirement age is usually attributed to institutional differences that affect individuals' incentives to retire. We suggest a different approach. Since workers in different occupations naturally retire at different ages, the composition of occupations within an economy matters for its average retirement age. Using U.S. data we infer the average retirement age by occupation, which we then use to predict the retirement age of 38 countries according to the occupational composition of these countries. Our findings suggest that the differences in occupational composition explain up to 39.2% of the observed cross-country variation in retirement age.

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Bibliographic Info

Paper provided by Swiss National Bank in its series Working Papers with number 2012-06.

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Length: 57 pages
Date of creation: 2012
Date of revision:
Handle: RePEc:snb:snbwpa:2012-06

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Keywords: Retirement Age; Occupational Distribution; Cross-Country Analysis;

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References

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  1. Burtless, Gary, 1986. "Social Security, Unanticipated Benefit Increases, and the Timing of Retirement," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 53(5), pages 781-805, October.
  2. Ebenstein, Avraham & Harrison, Ann & McMillan, Margaret & Phillips, Shannon, 2011. "Estimating the impact of trade and offshoring on American workers using the current population surveys," Policy Research Working Paper Series, The World Bank 5750, The World Bank.
  3. Allen, Steven G, 2001. "Technology and the Wage Structure," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 19(2), pages 440-83, April.
  4. John Rust & Christopher Phelan, 1994. "How Social Security and Medicare Affect Retirement Behavior in a World of Incomplete Markets," Public Economics, EconWPA 9406005, EconWPA, revised 06 Jul 1994.
  5. Roger, Muriel & Aubert, Patrick & Caroli, Eve, 2006. "New technologies, organisation and age: firm-level evidence," Economics Papers from University Paris Dauphine, Paris Dauphine University 123456789/10051, Paris Dauphine University.
  6. Avner Ahituv & Joeph Zeira, . "Technical Progress and Early Retirement," Working Papers, University of Crete, Department of Economics 0801, University of Crete, Department of Economics.
  7. David E. Bloom & David Canning & Gunther Fink & Jocelyn Finlay, 2009. "The Effect of Social Security Reform on Male Retirement in High and Middle Income Countries," PGDA Working Papers, Program on the Global Demography of Aging 4809, Program on the Global Demography of Aging.
  8. Filer, Randall K & Petri, Peter A, 1988. "A Job-Characteristics Theory of Retirement," The Review of Economics and Statistics, MIT Press, vol. 70(1), pages 123-29, February.
  9. Oded_Galor, 2004. "The Demographic Transition and the Emergence of Sustained Economic Growth," Working Papers, Brown University, Department of Economics 2004-13, Brown University, Department of Economics.
  10. Jonathan Gruber & David A. Wise, 1999. "Introduction to "Social Security and Retirement around the World"," NBER Chapters, National Bureau of Economic Research, Inc, in: Social Security and Retirement around the World, pages 1-35 National Bureau of Economic Research, Inc.
  11. Runjuan Liu & Daniel Trefler, 2008. "Much Ado About Nothing: American Jobs and the Rise of Service Outsourcing to China and India," NBER Working Papers 14061, National Bureau of Economic Research, Inc.
  12. Jonathan Gruber & David A. Wise, 1999. "Social Security and Retirement around the World," NBER Books, National Bureau of Economic Research, Inc, National Bureau of Economic Research, Inc, number grub99-1.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Do the Greek retire earlier because of their occupations?
    by Economic Logician in Economic Logic on 2012-07-23 14:43:00

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