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Life-Cycle Savings in the United States, 1900-1990

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  • Chulhee Lee

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Abstract

This study explores the effect of farm value on retirement decisions of farm owners in the early twentieth century. The average farm value per acre of county, as of either 1900 or 1910, and the growth rate over the decade had a strong positive effect on the probability of retirement of farm owners in 1910. Farm owners were more responsive to a change in farm value when it was not produced by a shift in the farmland productivity than when it was. I argue that the rapid growth in the value of farm properties between 1900 and 1910 was a major force behind the decline in the labor force participation rate of males aged 65 and over during the same period.

Suggested Citation

  • Chulhee Lee, 1999. "Life-Cycle Savings in the United States, 1900-1990," Working Paper Series no14, Institute of Economic Research, Seoul National University.
  • Handle: RePEc:snu:ioerwp:no14
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    File URL: http://econ.snu.ac.kr/~ecores/activity/paper/no14.pdf
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    Cited by:

    1. Sebnem Kalemli-Ozcan & David Weil, 2010. "Mortality change, the uncertainty effect, and retirement," Journal of Economic Growth, Springer, vol. 15(1), pages 65-91, March.
    2. Naeem AKRAM & Muhammad Irfan AKRAM, 2015. "Savings Behaviour In Muslim And Non-Muslim Countries In Context To The Interest Rate," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 25(2), pages 161-177.

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