Using a novel dataset from the 2006 Portuguese Labor Force Survey this paper examinesthe impact of a voluntary reduction in hours of work, before retirement, on the moment of exitfrom the labor force. If, as often suggested, flexibility in hours of work is a useful measure topostpone retirement,...

Several studies show that employees with firm-specific skills are more likely to be covered by employer-sponsored pension schemes than workers with general skills. Therefore it can be expected that workers with firm-specific skills retire earlier. This paper tests this prediction using US data...

Despite the increased frequency of job loss for older workers in Europe, little is known on itseffect on the work-retirement decision. Employing individual data from the EuropeanCommunity Household Panel for Germany, Italy, Spain, and the U.K., a multivariatecompeting-risks hazard model is...

According to the Hutchens (1999) model, early retirement is not explained as a result ofmaximizing expected individual utility but rather as a demand-side phenomenon arising froma firm’s profit-maximizing behaviour...

Die Beschäftigung älterer Arbeitnehmer in Deutschland hat in den letzten Jahren merklichzugenommen. Die Studie untersucht diese jüngste Verbesserung der ArbeitsmarktsituationÄlterer und analysiert den Beitrag, den die arbeitsmarkt- und sozialpolitischen Reformen derletzten Jahre dabei...

This study analyses the development of the economic well-being of the elderly in Swedensince 1990 - a period characterized by increased influence from the financial market andextreme economic events - using data from the Household Income Survey. The elderly werenot isolated as pensions were cut,...

We use firm closure data from social security records for Austria 1978-1998 to investigate theeffect of age on employment prospects. We rely on exact matching to compare workersdisplaced due to firm closure with similar non-displaced workers. We then use a differencein-difference strategy to...

The population of most developed societies is ‘graying’. As life expectancy increases and thelarge baby-boom generation approaches retirement age, this has critical consequences formaintaining a high standard of living and the sustainability of pension systems. In the light ofthese labor-force...

Private wealth holdings are likely to become an increasingly important determinant in the jobexit decision of elderly workers. Net wealth may correlate with worker’s characteristics thatalso determine the exit out of a job. It is therefore important to include a rich set of...

We use panel data from the US Health and Retirement Study 1992-2002 to estimate theeffect of self-assessed health limitations on active labor market participation of men aroundretirement age. Self-assessments of health and functioning typically introduce anendogeneity bias when studying the...