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An inventor's own knowledge is a key input in the innovation process. This knowledge can be built by interacting with … of our new innovation-led endogenous growth model, in which innovations are produced by heterogeneous research teams of … model nests inside the innovation-based endogenous growth model. We estimate the model, which fits the data very closely …
Persistent link: https://www.econbiz.de/10012453248
Does Social Security redistribute across cohorts? Or is it a program for purchasing the jobs' of the elderly? I formalize both models, showing how they have some predictions in common the most important of which is that generational accounts have the appearance of a pyramid scheme.' I also...
Persistent link: https://www.econbiz.de/10012471088
We present a detailed analysis of the incentives that Social Security provides for continued work at older ages. We do so using information on older males from the Health and Retirement Study over the 1980-1997 period to calculate the changes in the present discounted value of Social Security...
Persistent link: https://www.econbiz.de/10012471116
The Social Security earnings test reduces benefits at a 33-50% rate once earnings pass a threshold amount - among the highest marginal tax rates in the economy. Previous research dismissed the importance of the earnings test but failed to take advantage of three changes in the earnings test...
Persistent link: https://www.econbiz.de/10012471588
This paper analyzes how computerization affected the labor market outcomes of older workers between 1984 and 2017. Using the computerization supplements of the Current Population Survey (CPS) we show that different occupations were computerized at different times, older workers tended to start...
Persistent link: https://www.econbiz.de/10012510579
We examine respondents in the Health and Retirement Study (HRS) to observe how their financial situations unfolded as they aged. We focus on low income older adults and follow them over time to identify the factors associated with having low income at baseline and thereafter. We find that (a)...
Persistent link: https://www.econbiz.de/10012510599
As Americans work longer in response to a changing retirement landscape, it is important to ask whether there are groups being left out of this trend. Geography is a natural lens through which to examine this question, given regional disparities in the employment of prime-age individuals. In...
Persistent link: https://www.econbiz.de/10012660110
Employment rates of males aged 55-64 have changed dramatically in the OECD over the last 5 decades. The average employment rate decreased by more than 15 percentage points between the mid-1970s and the mid-1990s, only to increase by roughly the same amount subsequently. One proposed explanation...
Persistent link: https://www.econbiz.de/10012585398
The COVID-19 pandemic and associated mitigation strategies exacted a large economic toll on large portions of the United States population. For older and disabled workers, the effects could be more persistent and fiscally costly than the impacts experienced by young, healthy workers due to the...
Persistent link: https://www.econbiz.de/10012599373
Good health is important for employment at older ages. However, little is known about how health-related functional abilities interact with occupational demands to shape work capacity. Using new data, we quantify individuals' functional abilities, combine that information with...
Persistent link: https://www.econbiz.de/10013210064