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The Relationship Between Job Characteristics and Retirement

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  • Michael Hurd
  • Kathleen McGarry

Abstract

We study the influence of job characteristics on prospective retirement as measured by the probability of working past age 62 or 65. The characteristics fall into three broad classes: physical and mental requirements, job flexibility including employer accomodation to older workers, and financial aspects such as pensions and health care insurance. Using data from the Health and Retirement Survey, we find that physical and mental job requirements have a rather small influence on prospective retirement, whereas measures of job flexibility and financial aspects of the job are important determinants.

Suggested Citation

  • Michael Hurd & Kathleen McGarry, 1993. "The Relationship Between Job Characteristics and Retirement," NBER Working Papers 4558, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:4558
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    References listed on IDEAS

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    1. Michael D. Hurd, 1990. "The Joint Retirement Decision of Husbands and Wives," NBER Chapters, in: Issues in the Economics of Aging, pages 231-258, National Bureau of Economic Research, Inc.
    2. Alan L. Gustman & Thomas L. Steinmeier, 1984. "Partial Retirement and the Analysis of Retirement Behavior," ILR Review, Cornell University, ILR School, vol. 37(3), pages 403-415, April.
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    4. Olivia S. Mitchell, 1983. "Fringe Benefits and the Cost of Changing Jobs," ILR Review, Cornell University, ILR School, vol. 37(1), pages 70-78, October.
    5. John P. Rust, 1990. "Behavior of Male Workers at the End of the Life Cycle: An Empirical Analysis of States and Controls," NBER Chapters, in: Issues in the Economics of Aging, pages 317-382, National Bureau of Economic Research, Inc.
    6. Joseph F. Quinn & Richard V. Burkhauser & Daniel A. Myers, 1990. "Passing the Torch: The Influence of Economic Incentives on Work and Retirement," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number pt, December.
    7. Alan L. Gustman & Thomas L. Steinmeier, 1982. "Partial Retirement and Wage Profiles of Older Workers," NBER Working Papers 1000, National Bureau of Economic Research, Inc.
    8. Mark Hayward & William Grady & Melissa Hardy & David Sommers, 1989. "Occupational influences on retirement, disability, and death," Demography, Springer;Population Association of America (PAA), vol. 26(3), pages 393-409, August.
    9. Ruhm, Christopher J, 1990. "Bridge Jobs and Partial Retirement," Journal of Labor Economics, University of Chicago Press, vol. 8(4), pages 482-501, October.
    10. Olivia S. Mitchell, 1982. "Fringe Benefits and Labor Mobility," Journal of Human Resources, University of Wisconsin Press, vol. 17(2), pages 286-298.
    11. 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 123-129, February.
    12. Michael D. Hurd, 1993. "The Effect of Labor Market Rigidities on the Labor Force Behavior of Older Workers," NBER Working Papers 4462, National Bureau of Economic Research, Inc.
    13. Charles Brown, 1980. "Equalizing Differences in the Labor Market," The Quarterly Journal of Economics, Oxford University Press, vol. 94(1), pages 113-134.
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    Citations

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    Cited by:

    1. Aylit Tina Romm, 2012. "Retirement Date Effects on Pre-Retirement Wealth Accumulation: An Analysis of US Households," Working Papers 266, Economic Research Southern Africa.
    2. repec:pri:cheawb:linsenmeier is not listed on IDEAS
    3. Randall K. Filer & Marjorie Honig, 2005. "Endogenous Pensions and Retirement Behavior," Economics Working Paper Archive at Hunter College 410, Hunter College Department of Economics.
    4. Leora Friedberg, 2003. "The Impact of Technological Change on Older Workers: Evidence from Data on Computer Use," ILR Review, Cornell University, ILR School, vol. 56(3), pages 511-529, April.
    5. Huber, Martin & Lechner, Michael & Wunsch, Conny, 2013. "The Effect of Firms' Partial Retirement Policies on the Labour Market Outcomes of Their Employees," IZA Discussion Papers 7513, Institute of Labor Economics (IZA).
    6. Michael Hurd & Monika Reti, 2003. "The Effects of Large Capital Gains on Work and Consumption: Evidence from Four Waves of the HRS," Working Papers 03-14, RAND Corporation.
    7. Staubli, Stefan & Zweimüller, Josef, 2011. "Does Raising the Retirement Age Increase Employment of Older Workers?," CEPR Discussion Papers 8510, C.E.P.R. Discussion Papers.
    8. Karen A. Kopecky, 2011. "The Trend In Retirement," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(2), pages 287-316, May.
    9. James Marton & Stephen A. Woodbury, 2007. "Retiree Health Benefit Coverage and Retirement," Book chapters authored by Upjohn Institute researchers, in: Dimitri B. Papadimitriou (ed.),Government Spending on the Elderly, pages 222-242, W.E. Upjohn Institute for Employment Research.
    10. Henseke, Golo, 2011. "Retirement effects of heavy job demands," Thuenen-Series of Applied Economic Theory 118, University of Rostock, Institute of Economics.
    11. Chulhee Lee, 2010. "Labor-Force Participation of Older Males in Korea: 1955 to 2005," NBER Chapters, in: The Economic Consequences of Demographic Change in East Asia, pages 281-313, National Bureau of Economic Research, Inc.
    12. Boockmann, Bernhard & Fries, Jan & Göbel, Christian, 2018. "Specific measures for older employees and late career employment," The Journal of the Economics of Ageing, Elsevier, vol. 12(C), pages 159-174.
    13. Chulhee Lee, 2009. "Technological Changes and Employment of Older Manufacturing Workers in Early Twentieth Century America," NBER Working Papers 14746, National Bureau of Economic Research, Inc.
    14. Alan L. Gustman & F. Thomas Juster, 1995. "Income and Wealth of Older American Households: Modeling Issues for Public Policy Analysis," NBER Working Papers 4996, National Bureau of Economic Research, Inc.
    15. Hakola, Tuulia, 2002. "Alternative Approaches to Model Withdrawals from the Labour Market – A Literature Review," Working Paper Series 2003:4, Uppsala University, Department of Economics.
    16. Michael D. Hurd & Monika Reti & Susann Rohwedder, 2009. "The Effect of Large Capital Gains or Losses on Retirement," NBER Chapters, in: Developments in the Economics of Aging, pages 127-163, National Bureau of Economic Research, Inc.
    17. John Karl Scholz & Ananth Seshadri, 2013. "Health Insurance and Retirement Decisions," Working Papers wp292, University of Michigan, Michigan Retirement Research Center.
    18. Steven J. Haider & David S. Loughran, 2003. "How Important Are Wages to the Elderly? Evidence from the New Beneficiary Data System and the Social Security Earnings Test," Working Papers wp049, University of Michigan, Michigan Retirement Research Center.
    19. repec:eee:labchp:v:3:y:1999:i:pc:p:3261-3307 is not listed on IDEAS
    20. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers 01-09, RAND Corporation.
    21. Vere, James P., 2011. "Social Security and elderly labor supply: Evidence from the Health and Retirement Study," Labour Economics, Elsevier, vol. 18(5), pages 676-686, October.
    22. Boyle, Melissa A. & Lahey, Joanna N., 2010. "Health insurance and the labor supply decisions of older workers: Evidence from a U.S. Department of Veterans Affairs expansion," Journal of Public Economics, Elsevier, vol. 94(7-8), pages 467-478, August.
    23. Hugo Benitez-Silva, 2000. "Micro Determinants of Labor Force Status Among Older Americans," Department of Economics Working Papers 00-07, Stony Brook University, Department of Economics.
    24. Rogowski, Jeannette & Karoly, Lynn, 2000. "Health insurance and retirement behavior: evidence from the health and retirement survey," Journal of Health Economics, Elsevier, vol. 19(4), pages 529-539, July.
    25. Brahima Coulibaly, 2006. "Changes in job quality and trends in labor hours," International Finance Discussion Papers 882, Board of Governors of the Federal Reserve System (U.S.), revised 2006.

    More about this item

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination

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