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Alternative Approaches to Model Withdrawals from the Labour Market – A Literature Review

  • Hakola, Tuulia

    ()

    (The Central Pension Security Institute)

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    The paper reviews large literature on retirement, keeping in mind the goal of finding a suitable model to the labour market of the older workers in Sweden. The review is divided into six sections. The first section explains the problems of defining retirement. The second section deals with a multitude of labour market exit channels. Specific features of modelling old-age retirement, disability, sick leave, and unemployment of the aged are explained. The third section is concerned with economic and non-economic incentives. Different definitions of economic incentives are described, and the importance of a correct health measure is discussed. The fourth section is concerned with the spousal decision-making, and the fifth with the labour demand effects on retirement. The final chapter goes through strengths and weaknesses of structural and reduced-form models.

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    Paper provided by Uppsala University, Department of Economics in its series Working Paper Series with number 2003:4.

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    Length: 39 pages
    Date of creation: 20 Dec 2002
    Date of revision:
    Handle: RePEc:hhs:uunewp:2003_004
    Contact details of provider: Postal: Department of Economics, Uppsala University, P. O. Box 513, SE-751 20 Uppsala, Sweden
    Phone: + 46 18 471 25 00
    Fax: + 46 18 471 14 78
    Web page: http://www.nek.uu.se/
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    4. repec:att:wimass:9430 is not listed on IDEAS
    5. Michael Baker, 1999. "The Retirement Behavior of Married Couples: Evidence From the Spouse's Allowance," Working Papers baker-99-01, University of Toronto, Department of Economics.
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    23. Robin L. Lumsdaine & James H. Stock & David A. Wise, 1992. "Three Models of Retirement: Computational Complexity versus Predictive Validity," NBER Chapters, in: Topics in the Economics of Aging, pages 21-60 National Bureau of Economic Research, Inc.
    24. John Bound, 1989. "The Health and Earnings of Rejected Disability Insurance Applicants," NBER Working Papers 2816, National Bureau of Economic Research, Inc.
    25. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-84, December.
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    37. Berkovec, James & Stern, Steven, 1991. "Job Exit Behavior of Older Men," Econometrica, Econometric Society, vol. 59(1), pages 189-210, January.
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    39. Parsons, Donald O, 1991. "The Health and Earnings of Rejected Disability Insurance Applicants: Comment," American Economic Review, American Economic Association, vol. 81(5), pages 1419-26, December.
    40. Palme, Mårten & Svensson, Ingemar, 2002. "Pathways to Retirement and Retirement Incentives in Sweden," Arbetsrapport 2002:9, Institute for Futures Studies.
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