haku: @author Hairault, J. / yhteensä: 2
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| Tekijä: | Hairault, J. Langot, F. Sopraseuth, T. |
| Otsikko: | Distance to retirement and older workers' employment: the case for delaying the retirement age |
| Lehti: | Journal of the European Economic Association
2010 : SEP, VOL. 8:5, p. 1034-1076 |
| Asiasana: | retirement ageing employment labour markets France |
| Kieli: | eng |
| Tiivistelmä: | This research presents empirical evidence alongside a theoretical foundation in favor of the view that the retirement age decision has an effect to older workers' employment before retirement. To the extent of search frictions on the labor market, the return on jobs is dictated by their expected duration: The time to retirement is thus essential to understand older workers' employment. Countries having a retirement age of 60 are indeed attributed by lower employment rates for workers aged 55-59. Based on the French Labor Force Survey, we show that the likelihood of employment is substantially affected by the distance to retirement, additive to age and other relevant variables. We then extend McCall's job search model by explicitly integrating life-cycle characteristics with the retirement decision. We show that the distance effect interacting with the generosity of unemployment benefits and the little demand for older workers explains the low employment rate just before the eligibility age for the Social Security pension. Finally, we show that executing actuarially fair schemes extends the retirement age and also encourages more intensive job search by older unemployed workers. |
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