Aaronson, Daniel; French, Eric - In: Journal of Labor Economics 22 (2004) 2, pp. 329-352
This article identifies the part-time wage effect, using hours variation caused by the social security rules. We show that work hours and wages drop sharply at ages 62 and 65. We argue that the hours decline causes the wage decline, resulting in a 25% wage penalty for men who cut their work week...