This paper examines the effect of increased elderly employment in Japan, caused by the legal obligation of continued employment enacted in 2006, on employment of other workers and elderly’s own earnings. I find no evidence for substitution between young full-time workers and elderly workers,...

Supply-side Social Security reforms to increase employment and delay benefit claiming among older individuals may be frustrated by age discrimination. We test for policy complementarities between supply-side Social Security reforms and demand-side efforts to deter age discrimination,...

Evidence suggests that older workers with disabilities have been hit particularly hard by the recent recession. The increased difficulty in finding a job faced by individuals with disabilities, combined with the longer spells of unemployment experienced by all workers in this recession, could...

This paper assesses the effect of the Affordable Care Act (ACA) on the labor supply of Americans ages 50 and older. Using data from the Health and Retirement Study and the Medical Expenditure Panel Survey, we estimate a dynamic programming model of retirement that accounts for both saving and...

We study the effects of the size of older cohorts on labor force participation (LFP) and wages of older workers. In the standard relative supply framework usually applied to relative cohort size, we would expect larger older cohorts to experience lower wages and hence lower employment or LFP....

Using data from the Health and Retirement Study (HRS) and the English Longitudinal Study of Ageing (ELSA), we estimate a dynamic model of health and employment. We estimate how transitory and persistent health shocks affect employment over time. In a first step, we formulate and estimate a...

We develop and estimate a model in which individuals make decisions on consumption, human capital investment, labor supply, and retirement. Unlike all previous work, our model allows both an endogenous wage process (which is typically assumed exogenous in the human capital and earnings dynamics...

Employment trends in the U.S. were similar across age groups in the 1960s, 1970s, and 1980s: male employment rates declined or were flat at all ages and female employment rates increased or were flat at all ages. But employment trends diverged more recently, with employment rising at older ages...

Cross-national comparisons of data from developed countries offer useful insights into the retirement process and policy. Here we summarize findings for older persons age 50-70 using new microdata files collected by the Japanese Study of Aging and Retirement (JSTAR) project, and we compare these...

We develop a rich model to study the complex interrelationship between health insurance and retirement decisions. The decision to retire depends on a number of factors including availability of health insurance, health shocks, pensions, Social Security, and how consumption and health interact in...