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

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  • Gustman, Alan L
  • Steinmeier, Thomas L

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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Suggested Citation

  • Gustman, Alan L & Steinmeier, Thomas L, 1986. "A Disaggregated, Structural Analysis of Retirement by Race, Difficulty of Work and Health," The Review of Economics and Statistics, MIT Press, vol. 68(3), pages 509-513, August.
    • Handle: RePEc:tpr:restat:v:68:y:1986:i:3:p:509-13
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    Citations

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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. Даниелян, Владимир, 2016. "Детерминанты Пенсионного Возраста: Обзор Исследований [Determinants of Retirement Age: A Review of Research]," MPRA Paper 73865, University Library of Munich, Germany.
    3. Alan L. Gustman & Thomas L. Steinmeier, 1989. "Changing the Social Security Rules for Workers over 65: Proposed Policies and Their Effects," NBER Working Papers 3087, National Bureau of Economic Research, Inc.
    4. Husain, Muhammad Jami, 2010. "Contribution of health to economic development: A survey and overview," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 4, pages 1-52.
    5. Michael Hurd & Kathleen McGarry, 1993. "The Relationship Between Job Characteristics and Retirement," NBER Working Papers 4558, National Bureau of Economic Research, Inc.
    6. Dai, Tiantian & Fan, Hua & Liu, Xiangbo & Ma, Chao, 2022. "Delayed retirement policy and unemployment rates," Journal of Macroeconomics, Elsevier, vol. 71(C).
    7. Owen O'Donnell & Eddy Van Doorslaer & Tom Van Ourti, 2013. "Health and Inequality," Tinbergen Institute Discussion Papers 13-170/V, Tinbergen Institute.
    8. repec:eee:labchp:v:3:y:1999:i:pc:p:3309-3416 is not listed on IDEAS
    9. Alan L. Gustman & Thomas L. Steinmeier, 1994. "Employer-Provided Health Insurance and Retirement Behavior," ILR Review, Cornell University, ILR School, vol. 48(1), pages 124-140, October.
    10. Erik Meijer & Arie Kapteyn & Tatiana Andreyeva, 2008. "Health Indexes and Retirement Modeling in International Comparisons," Working Papers 614, RAND Corporation.
    11. repec:eee:labchp:v:3:y:1999:i:pc:p:3261-3307 is not listed on IDEAS
    12. 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.
    13. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers 01-09, RAND Corporation.

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