Chapter 49 New developments in the economic analysis of retirement

Handbook of Labor Economics

Volumn 3 PART, Issue 3, 1999, Pages 3261-3307

  Lumsdaine, Robin L ^a   Mitchell, Olivia S ^b  

^a BROWN UNIVERSITY   (United States)

^b UNIVERSITY OF PENNSYLVANIA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 77956731681     PISSN: 15734463     EISSN: None     Source Type: Book Series    
DOI: 10.1016/S1573-4463(99)30040-7     Document Type: Review

References (112)

1. Allen S.G., Clark R.L., and McDermed A.A. Pensions, bonding and lifetime jobs. Journal of Human Resources 28 3 (1993) 463-481
2. Anderson K.H., and Burkhauser R.V. The retirement-health nexus. Journal of Human Resources 20 3 (1985) 315-330
3. Anderson K.H., Burkhauser R.V., and Quinn J.F. Do retirement dreams come true? The effect of unanticipated events on retirement plans. Industrial and Labor Relations Review 39 (1986) 518-526
4. in press. Anderson P.M., Gustman A.L., and Steinmeier T.L. Trends in male labor force participation and retirement: some evidence on the role of pensions and social security in the 1970s and 1980s. Journal of Labor Economics (1999)
5. Unpublished manuscript. Ashenfelter O., and Card D. Faculty retirement in the post-mandatory era: early findings from the Princeton retirement survey (1996), Princeton University, New York
6. Ausink J.A., and Wise D.A. The military pension, compensation and retirement of U.S. Air Force pilots. Working paper no. 4593 (1993), NBER, Cambridge, MA
7. Barsky R., Juster T., Kimball M., and Shapiro M. Preference parameters and behavioral heterogeneity: an experimental approach in the health and retirement study. Quarterly Journal of Economics 112 2 (1997) 537-579
8. Bazzoli G. The early retirement decision. Journal of Human Resources 20 2 (1985) 214-234
9. Berkovec J., and Stern S. Job exit behavior of older men. Econometrica 59 1 (1991) 189-210
10. Bernheim B.D. The timing of retirement: a comparison of expectations and realizations. In: Wise D. (Ed). The economics of aging (1989), University of Chicago Press, Cambridge, MA 335-356
11. Bernheim B.D., and Levin L. Social security and personal saving: an analysis of expectations. AEA Papers and Proceedings 79 2 (1989) 97-102
12. Bodie Z. Pensions as retirement income insurance. Journal of Economic Literature 28 (1990) 28-49
13. Bondar J. Beneficiaries affected by the annual earnings test, 1989. Social Security Bulletin 56 1 (1993) 20-28
14. Bound J. Self-reported health vs objective measures of health in retirement models. Journal of Human Resources 24 (1991) 106-138
15. Brown C. Early retirement windows. In: Mitchell O., Hammond B., and Rappaport A. (Eds). Forecasting retirement needs and retirement wealth (1999), University of Pennsylvania Press, Chicago, IL
16. Burkhauser R.V., Couch K.A., and Phillips J.W. Who takes early social security benefits? The economic and health characteristics of early beneficiaries. The Gerontologist 36 6 (1996) 789-799
17. Burtless G.T. A framework for analyzing future retirement income security. In: Hanushek E., and Maritato N. (Eds). Assessing knowledge of retirement behavior (1996), National Academy Press, Philadelphia, PA 244-272
18. Burtless G.T., and Moffitt R.A. The effect of social security benefits on the labor supply of the aged. In: Aaron H.J., and Burtless G. (Eds). Retirement and economic behavior (1984), Brookings Institution, Washington, DC 135-170
19. Unpublished PhD dissertation. Charles K. An inquiry into the labor market consequences of disabling illness (1996), Cornell University, Washington, DC
20. Chorney H., Goldman J., Mitchell O.S., and Santomero A. The competitive performance of life insurance firms in the retirement asset market. Working paper (1997), Wharton Financial Institutions Center
21. November. Clark R.L. Employment costs and the older worker. In: Rix S. (Ed). Older workers: how do they measure up?. Public policy working paper 9412 (1994), AARP
22. Unpublished paper. Clark R.L., Gohmann S.F., and McDermed A.A. Declining use of defined benefit pension plans: is federal regulation the reason? (1988), North Carolina State University
23. Clark R.L., and Johnson T. Retirement in a dual career family. Final report for the Social Security Administration under Grant 10-P-90543-4-02 (1980), Social Security Administration, Washington, DC
24. in press. Costa D.L. The evolution of retirement: an American economic history, 1880-1990 (1999), University of Chicago Press, Washington, DC
25. Dwyer D., and Mitchell O.S. Physical health, mental health and retirement in the health and retirement survey. Journal of Health Economics 18 2 (1998) 173-193
26. Ettner S. The impact of 'parent care' on female labor supply decisions. Demography 32 1 (1995) 63-80
27. Unpublished paper. Even W.E., and Macpherson D.A. Pensions, labor turnover and employer size (1992), Miami University of Ohio, Chicago, IL
28. Fields G.S., and Mitchell O.S. Retirement, pensions and social security (1984), MIT Press, Oxford, OH
29. Fitzgerald J., Gottschalk P., and Moffitt R. An analysis of sample attrition in panel data: the Michigan panel study of income dynamics. Journal of Human Resources 33 2 (1998) 251-299
30. Gillam K.M., and Shoven J.B. Faculty retirement policies: the Stanford experience. In: Arrow K.J., Cottle R.W., Eaves B.C., and Olkin I. (Eds). Education in a research university (1996), Stanford University Press, Cambridge, MA 37-63
31. Gorey K.M., Rice R.W., and Brice G.C. The prevalence of elder care responsibilities among the work force population. Research on Aging 14 3 (1992) 399-418
32. Gruber J., and Madrian B.C. Health insurance and early retirement: evidence from the availability of continuation coverage. In: WIse D.A. (Ed). Advances in the economics of aging (1996), University of Chicago Press, Stanford, CA
33. Gruber J., and Wise D.A. Introduction and summary. In: Gruber J., and Wise D.A. (Eds). Social security and retirement around the world (1999), University of Chicago Press, Chicago, IL 1-36
34. Gustman A.L., and Mitchell O.S. Pensions and the labor market: behavior and data requirements. In: Bodie Z., and Munnell A. (Eds). Pensions and the U.S. economy: the need for good data (1992), Pension Research Council, Chicago, IL 39-87
35. Gustman A.L., Mitchell O.S., and Steinmeier T.L. The role of pensions in the labor market. Industrial and Labor Relations Review 47 3 (1994) 417-438
36. (Suppl.). Gustman A.L., Mitchell O.S., and Steinmeier T.L. Retirement measures in the health and retirement survey. Journal of Human Resources 30 (1995) S57-S83
37. Gustman A.L., Mitchell O.S., Steinmeier T.L., and Samwick A. Pension and social security wealth in the health and retirement study. Working paper no. 5912 (1997), NBER, Philadelphia, PA
38. Gustman A.L., and Steinmeier T.L. The effects of partial retirement on wage profiles of older workers. Industrial Relations 24 2 (1985) 257-265
39. Gustman A.L., and Steinmeier T.L. A disaggregated structural analysis of retirement by race, difficulty of work and health. Review of Economics and Statistics 67 3 (1986) 509-513
40. Gustman A.L., and Steinmeier T.L. A Structural Retirement Model. Econometrica 54 3 (1986) 555-584
41. Gustman A.L., and Steinmeier T.L. Changing the social security rules for work after 65. Industrial and Labor Relations Review 44 4 (1991) 733-745
42. Gustman A.L., and Steinmeier T.L. Pension portability and labor mobility: evidence from the survey of income and program participation. Journal of Public Economics 50 (1993) 299-323
43. Gustman A.L., and Steinmeier T.L. Employer provided health insurance and retirement behavior. Industrial and Labor Relations Review 48 1 (1994) 124-140
44. Gustman A.L., and Steinmeier T.L. Retirement in a family context: a structural model for husbands and wives. Working paper no. 4629 (1994), NBER, Cambridge, MA
45. Hammermesh D. Labor demand (1993), Princeton University Press, Cambridge, MA
46. Heckman J. Sample selection bias as a specification error. Econometrica 47 1 (1979) 153-162
47. Hogarth J. Accepting an early retirement bonus. Journal of Human Resources 23 1 (1988) 21-33
48. Honig M., and Reimers C. Is it worth eliminating the retirement test?. American Economic Review 79 2 (1989) 103-107
49. Hurd M.D. Research on the elderly. Journal of Economic Literature 28 2 (1990) 565-637
50. Hurd M.D. The effect of labor market rigidities on the labor force behavior of older workers. In: Wise D.A. (Ed). Advances in the economics of aging (1996), University of Chicago Press, Princeton, NJ 11-58
51. Hurd M.D., and McGarry K. The relationship between job characteristics and retirement. Working paper no. 4558 (1993), NBER, Chicago, IL
52. (Suppl.). Hurd M.D., and McGarry K. Evaluation of subjective probability distributions in the HRS. Journal of Human Resources 30 (1995) S268-S292
53. Hutchens R. Delayed payment contracts and a firm's propensity to hire older workers. Journal of Labor Economics 4 4 (1986) 439-457
54. part 2. Hutchens R. A test of Lazear's theory of delayed payment contract. Journal of Labor Economics 5 4 (1987) S153-S170
55. Hutchens R. Do job opportunities decline with age?. Industrial and Labor Relations Review 42 1 (1988) 89-99
56. Hutchens R. Seniority, wages and productivity: a turbulent decade. Journal of Economic Perspectives 3 4 (1989) 49-64
57. Hutchens R. Restricted job opportunities and the older worker. In: Mitchell O. (Ed). As the workforce ages (1993), ILR Press, Cambridge, MA
58. Unpublished paper. Ippolito R. Selecting out high discounters: a theory of defined contribution pensions (1993), Pension Benefit Guaranty Corporation, Ithaca, NY
59. Jendrek M.P. Grandparents who parent their grandchildren: effects on lifestyle. Journal of Marriage and the Family 55 (1993) 609-621
60. Johnson R.W., and Neumark D. Age discrimination, job separations and employment status of older workers: evidence from self-reports. Journal of Human Resources 32 4 (1997) 779-811
61. (Suppl.). Juster T., and Suzman R. An overview of the health and retirement study. Journal of Human Resources 30 (1995) S7-S56
62. Keane M.P., and Wolpin K.I. The solution and estimation of discrete choice dynamic programming models by simulation and interpolation: Monte Carlo evidence. Staff report no. 181 (1994), Federal Reserve Bank of Minneapolis, Washington, DC
63. Kotlikoff L.J., and David A. W. Labor compensation and the structure of private pension plans: evidence for contractual versus spot labor markets. In: Wise D. (Ed). Pensions, labor and individual choice (1985), University of Chicago Press, Chicago, IL 55-85
64. Kotlikoff L.J., and Wise D.A. The incentive effects of private pension plans. In: Bodie Z., Shoven J., and Wise D. (Eds). Issues in pension economics (1987), University of Chicago Press, Chicago, IL 283-336
65. Lazear E.P. Why is there mandatory retirement?. Journal of Political Economy 87 (1979) 1261-1264
66. Lazear E.P. Pensions as severance pay. In: Bodie Z., Shoven J.B., and Wise D.A. (Eds). Financial aspects of the United States pension system (1983), University of Chicago Press, Chicago, IL 57-85
67. Lazear E.P. Retirement from the labor force. In: Ashenfelter O., and Layard R. (Eds). Handbook of labor economics (1986), North-Holland, Chicago, IL 305-355
68. Leonesio M.V. The effects of the social security earnings test on the labor-market activity of older Americans: a review of the evidence. Social Security Bulletin 53 5 (1990) 2-21
69. Leonesio M.V. Social security and older workers. In: Mitchell O. (Ed). As the workforce ages (1993), ILR Press, Amsterdam 183-204
70. Levine P., and Mitchell O.S. Women on the verge of retirement: predictors of retiree well-being. Final report (1996), AARP Andrus Foundation, Ithaca, NY
71. Lumsdaine R.L. Factors affecting labor supply decisions and retirement income. In: Hanushek E., and Maritato N. (Eds). Assessing knowledge of retirement behavior (1996), National Academy Press, Washington, DC 61-122
72. Lumsdaine R.L., and Wise D.A. Aging and labor force participation: a review of trends and explanations. In: Noguchi Y., and Wise D. (Eds). Aging in the United States and Japan: economic trends (1994), University of Chicago Press, Washington, DC 7-42
73. Unpublished manuscript. Lumsdaine R.L., Mutschler P., and Wise D.A. Pension provisions, anticipated windows and retirement (1995), Brown University, Chicago, IL
74. Lumsdaine R.L., Stock J.H., and Wise D.A. Efficient windows and labor force reduction. Journal of Public Economics 43 (1990) 131-159
75. Lumsdaine R.L., Stock J.H., and Wise D.A. Fenêtres et retraites. Annales d'Economie et de Statistique 20-21 (1990) 219-242
76. Lumsdaine R.L., Stock J.H., and Wise D.A. Three models of retirement: computational complexity versus predictive validity. In: Wise D. (Ed). Topics in the economics of aging (1992), University of Chicago Press, Chicago, IL 19-57
77. Lumsdaine R.L., Stock J.H., and Wise D.A. Retirement incentives: the interaction between employer-provided pensions, social security and retiree health benefits. In: Hurd M., and Yashiro N. (Eds). The economics of aging in the United States and Japan (1996), University of Chicago Press, Chicago, IL 261-293
78. Lumsdaine R.L., Stock J.H., and Wise D.A. Why are retirement rates so high at age 65?. In: Wise D. (Ed). Advances in the economics of aging (1996), University of Chicago Press, Chicago, IL 61-82
79. Luzadis R.A., and Mitchell O.S. Explaining pension dynamics. Journal of Human Resources 26 4 (1990) 679-703
80. McElroy M. The empirical content of Nash bargaining models of household behavior. Journal of Human Resources 25 4 (1990) 559-583
81. (Suppl.). McGarry K., and Schoeni R.F. Transfer behavior in the health and retirment study: measurement and the redistribution of resources within the family. Journal of Human Resources 30 (1995) S184-S226
82. McGill D.M., Brown K.N., Haley J.J., and Scheiber S.J. Fundamentals of private pensions. 7th edition (1996), University of Pennsylvania Press, Chicago, IL
83. Mitchell O.S. The relation of age to workplace injury. Monthly Labor Review 111 (1988) 8-13
84. Mitchell O.S. Aging, job satisfaction and job performance. In: Bluestone I., Montgomery R., and Owen J. (Eds). An aging workforce (1990), Wayne State University Press, Philadelphia, PA 242-272
85. Mitchell O.S., and Levine P. The baby boom's legacy: relative wages in the twenty-first century. American Economic Review Papers and Proceedings 78 (1988) 66-69
86. Mitchell O.S., and Luzadis R.A. Changes in pension incentives through time. Industrial and Labor Relations Review 42 1 (1988) 100-108
87. Mitchell O.S., and Moore J. Retirement wealth accumulation and decumulation: new developments and outstanding opportunities. Journal of Risk and Insurance 65 3 (1998) 371-400
88. in press. Mitchell O.S., James P., and Warshawsky M. New evidence on the money's worth of individual annuities. American Economic Review (1999)
89. Moen P., Robison J., and Fields V. Women's work and caregiving roles: a life course approach. Journal of Geontology 49 4 (1994) S176-S186
90. Montgomery E., Shaw K., and Ellen Benedict M. Pensions and wages: an hedonic price theory approach. International Economic Review 33 1 (1992) 111-128
91. Unpublished paper. Neumark D., and Stock W.A. Age discrimination laws and labor market efficiency (1997), Michigan State University, Detroit, MI
92. Unpublished paper. Oi W. The durability of worker-firm attachments (1983)
93. Parsons D.O. Retirement age and retirement income: the role of the firm. In: Hanushek E., and Maritato N. (Eds). Assessing knowledge of retirement behavior (1996), National Academy Press, Washington, DC 149-194
94. Unpublished manuscript. Pencavel J. The response of employees to severance pay incentives: faculty of the University of California, 1991-94 (1997), Stanford University, Washington, DC
95. Pozzebon S., and Mitchell O.S. Married women's retirement behavior. Journal of Population Economics 2 1 (1989) 39-53
96. Quinn J., and Burkhauser R.V. Retirement and labor force behavior of the elderly. In: Martin L., and Preston S. (Eds). Demography of aging (1994), National Academy Press, Washington, DC 50-101
97. Quinn J.F., Burkhauser R.V., and Myers D.A. Passing the torch: the influence of financial incentives on work and retirement (1990), W.E. Upjohn Institute on Employment Research, Washington, DC
98. Ransom R., and Sutch R. The labor of older Americans. Journal of Economic History 46 1 (1986) 1-30
99. Rebick M. Finding jobs for older workers: the Japanese approach. In: Mitchell O.S. (Ed). As the workforce ages: costs, benefits and policy challenges (1993), Cornell University Press, Kalamazoo, MI 103-124
100. Ruhm C.J. Bridge jobs and partial retirement. Journal of Labor Economics 8 4 (1990) 482-501
101. Rust J. A dynamic programming model of retirement behavior. In: Wise D. (Ed). The economics of aging (1989), University of Chicago Press, Ithaca, NY 359-398
102. Rust J. Comment. In: Wise D. (Ed). Studies in the economics of aging (1994), University of Chicago Press, Chicago, IL 213-219
103. Rust J., and Phelan C. How social security and medicare affect retirement behavior in a world of incomplete markets. Econometrica 65 4 (1997) 781-831
104. Sammartino F. The effect of health on retirement. Social Security Bulletin 50 2 (1987) 31-47
105. Samwick A.A. Discount rate heterogeneity and social security reform. Journal of Development Economics 57 1 (1998) 117-146
106. Scharlach A.E., Sobel E.L., and Roberts R.E.L. Employment and caregiver strain: an integrative model. The Gerontologist 31 6 (1991) 778-787
107. Smith S. Ending mandatory retirement in the arts and sciences. American Economic Review 81 2 (1994) 106-110
108. (Suppl.). Soldo B.J., and Hill M.S. Family structure and transfer measures in the health and retirement study: background and overview. Journal of Human Resources 30 (1995) S108-S137
109. Unpublished manuscript. Stewart J. Do older workers respond to changes in social security benefits? A look at the time series evidence (1995)
110. Stock J.H., and Wise D.A. Pensions, the option value of work and retirement. Econometrica 58 5 (1990) 1151-1180
111. Weaver D.A. The work and retirement decisions of older women: a literature review. Social Security Bulletin 57 1 (1994) 3-24
112. World Bank. Averting the old age crisis (1994), World Bank Publications, Chicago, IL