The Economics of Retirement Behavior / Olivia S. Mitchell, Gary S. Fields.

Format:

Book

Author/Creator:

Mitchell, Olivia S.

Contributor:

National Bureau of Economic Research.

Fields, Gary S.

Series:

Working Paper Series (National Bureau of Economic Research) no. w1128.

NBER working paper series no. w1128

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1983.

Summary:

This paper examines the role of economic factors in determining retirement behavior using a unique new data archive on more than 8,700 workers covered by ten different pension plans. We build on our earlier work by estimating several different retirement models including linear as well as discrete choice formulations. This framework provides new insights into how andwhy retirement ages differ across firms. We conclude that older workers' income opportunities differ depending on their pension rules, which in turn have a powerful influence on their retirement patterns. In addition the models indicate that older workers' tastes for income are not uniform,either across individuals or across firms.Finally, we show that retirement age differences are in part due to differences in worker preferences and in part due to differences in income opportunities. There appears to be some evidence of worker sorting across pension plans.

Notes:

Print version record

May 1983.