Ljungvist, Lars; Sargent, Thomas - In: Review of Economic Dynamics 17 (2014) 1, pp. 1-20
more elastic the earnings profile is to accumulated working time, the longer is a worker's career. Negative (positive …) unanticipated earnings shocks reduce (increase) the career length of a worker holding positive assets at the time of the shock … retirement age, government provided social security can attenuate responses of career lengths to earnings profile slopes …