For Whom the 'Retirement' Bell Tolls: Inter-temporal Comparisons Using the 1994 and 2002 Canadian General Social Survey
AbstractData from the 2002 and 1994 General Social Survey are used to analyze the determinants of retiring due to mandatory retirement and the expected age of retirement in Canada. Changes between 1994 and 2002 are decomposed into a component attributable to shifts in the composition of respondents and the other component to changes in the preferences and constraints of respondents, the latter playing a very important role for both outcomes. Specifically, between 1994 and 2002 we find: (1) a 1.3 percentage point drop in the probability of retiring due to mandatory retirement, with that drop due to preference/constraint changes substantially reducing the probability of retiring due to mandatory retirement but being almost offset by a change in the composition of the workforce that increased the probability of retiring due to mandatory retirement; and (2) a 3.7 year increase in the expected age of retirement, with that increase being almost exclusively attributable to preference and constraint shifts. The implications of these findings for employers, employees and policy makers are
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Bibliographic InfoPaper provided by Vancouver School of Economics in its series CLSSRN working papers with number clsrn_admin-2009-31.
Length: 31 pages
Date of creation: 22 Apr 2009
Date of revision: 22 Apr 2009
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Web page: http://www.clsrn.econ.ubc.ca/
Retirement; Expected Retirement Age; Labour Supply; Mandatory Retirement;
Find related papers by JEL classification:
- J48 - Labor and Demographic Economics - - Particular Labor Markets - - - Particular Labor Markets; Public Policy
- H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
- H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
- D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
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