| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w0876 |
| 来源ID | Working Paper 0876 |
| Economic Determinants of the Optimal Retirement Age: An Empirical Investigation | |
| Gary S. Fields; Olivia S. Mitchell | |
| 发表日期 | 1982-04-01 |
| 出版年 | 1982 |
| 语种 | 英语 |
| 摘要 | This paper examines how the structure of earnings and pension opportunities affects retirement behavior. We use a life cycle model of labor supply, paying special attention to the institutional features of private pensions and Social Security benefits. This theoretical formulation is used to develop comparative dynamic pre- dictions and to guide empirical modeling. Data from a new survey of workers and their income alternatives are used to implement the empirical model. Along the way, we highlight a number of interesting and little known facts about older workers' income. Contrary to popular opinion we find that private pensions are not always actuarially neutral; Social Security benefits do not typically decline (in present value terms) the longer retirement is deferred; and for many people, retirement income approaches and even exceeds net labor income. On the basis of empirical estimates of retirement parameters, we conclude that (1) people with higher base incomes retire earlier, and (2) those who have more to gain by postponing retirement, retire later. These findings are relevant to proposed reforms of the Social Security system as well as pension programs. |
| URL | https://www.nber.org/papers/w0876 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/558088 |
| 推荐引用方式 GB/T 7714 | Gary S. Fields,Olivia S. Mitchell. Economic Determinants of the Optimal Retirement Age: An Empirical Investigation. 1982. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w0876.pdf（265KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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