Labour market and retirement interactions : a new perspective on employment for older workers / edited by Jean-Olivier Hairault and François Langot.

Format:

Book

Contributor:

Hairault, Jean-Olivier, editor.

Langot, François, editor.

Series:

Studies of policy reform

Studies of Policy Reform

Language:

English

Subjects (All):

Retirement income.

Labor market.

Employment forecasting.

Physical Description:

xii, 94 pages ; 23 cm.

Edition:

First edition.

Place of Publication:

Oxford ; New York, NY : Oxford University Press, 2016.

Summary:

This volume examines the interaction of labour market conditions and retirement decisions. Based on French and US data, it provides empirical evidence and quantitative analysis of retirement and labor market flows. It studies the horizon effect and uses French individual data and probit models to show that the horizon effect does matter for the probability of being employed before the early retirement age. It analyses the influence of the retirement age on labour-market equilibrium, as well as the impact of labour market conditions, especially the importance of unemployment risk, on retirement decisions.

Contents:

1 Introduction / Jean-Oiivier Hairault Hairault, Jean-Oiivier, François Langot Langot, François 1

1.1 The Traditional Dichotomic View 3

1.1.1 Older-Worker (Low) Employment 3

1.1.2 Retirement Decisions 5

1.2 Focusing on a New Approach Based on Search Models of the Labour Market 6

1.2.1 The Influence of Retirement Age on Labour Market Flows 6

1.2.2 The Influence of Labour Market Status on Retirement Age 9

2 Horizon Effect and Older Workers' Employment: An Examination of the French Labour Force Survey / Jean-Olivier Hairault Hairault, Jean-Olivier, François Langot Langot, François 15

2.1 Introduction 15

2.2 Empirical Strategy 16

2.3 A Preliminary Strategy (Strategy I) 18

2.4 Identifying the Horizon Effect (Strategy II) 20

2.5 Conclusion 22

2.A Empirical Evidence 23

3 The Indirect Impact of Pension Systems on Employment prior to the Minimal Retirement Age: A New Estimation / Patrick Aubert Aubert, Patrick 29

3.1 The Statistical Model 29

3.2 Administrative Data on French Pensioners 31

3.3 Measuring the Impact of Retirement on Employment 33

3.4 Results 35

3.5 Conclusion 36

4 Are Unemployed Workers More Likely to Retire? / Yarine Fawaz Fawaz, Yarine, Jean-Olivier Hairault Hairault, Jean-Olivier, François Langot Langot, François 39

4.1 Introduction 39

4.2 Descriptive Analysis 41

4.2.1 Labour Force Status: Elements of Definition 41

4.2.2 Partly Retired Individuals vs their Searching and Working Counterparts 43

4.2.3 Transition to Retirement 45

4.3 Econometric Analysis 46

4.3.1 Probit Models 46

4.3.2 Propensity Score-Matching Approach 49

4.4 Conclusion 53

4.A Matching Methodology 54

4.B Probit Regressions 55

5 Reforming the US Social Security System: Accounting for Employment Uncertainty / Hugo A. Benitez-Silva Benitez-Silva, Hugo A., J. Ignacio García Pélrez Pélrez, J. Ignacio García, Sergi Jiménez-Martín Jiménez-Martín, Sergi 57

5.1 Introduction and Motivation 57

5.2 Stylized Facts Regarding Retirement 60

5.3 Methodology and the Dynamic Model 64

5.3.1 The Value Functions 67

5.3.2 Other Details of the Model 68

5.3.3 Solving and Simulating the Model 70

5.4 Simulation Results 71

5.5 Policy Experiments 74

5.5.1 Claiming Behaviour by Employment Status 78

5.5.2 Budgetary Consequences of the Policy Experiments 81

5.6 Conclusions 82

5.A Social Security Incentives for Early Retirement in the United States 83

5.A.1 Benefit Calculation 84

5.A.2 Actuarial Reduction Factor 85

5.A.3 Earnings Test 85

5.B Model Calibration 87.

Notes:

Includes bibliographical references and index.

ISBN:

9780198779179

0198779178

OCLC:

966182836