Early Retirement Windows
What happens to the employment status and earnings of workers who accept earlyretirement windows? Using data from the first six waves of HRS (1992-2002) I find that those who accepted window offers experience a sharp decline in employment - most do not go to work elsewhere. Those who do accept jobs elsewhere work fewer hours and receive significantly lower earnings per hour. Transitions to self-employment are more common among window acceptors than other workers.
|Date of creation:||Dec 2003|
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- Lumsdaine, Robin L. & Stock, James H. & Wise, David A., 1990.
"Efficient windows and labor force reduction,"
Journal of Public Economics,
Elsevier, vol. 43(2), pages 131-159, November.
- Alan L. Gustman & Olivia S. Mitchell & Thomas L. Steinmeier, 1993.
"The Role of Pensions in the Labor Market,"
NBER Working Papers
4295, National Bureau of Economic Research, Inc.
- Jeanne M. Hogarth, 1988. "Accepting an Early Retirement Bonus an Empirical Study," Journal of Human Resources, University of Wisconsin Press, vol. 23(1), pages 21-33.
- Charles Brown, 2003.
"Early Retirement Windows,"
wp064, University of Michigan, Michigan Retirement Research Center.
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