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Author: Hardy-Hazelrigg, Melissa A.
Resulting in 1 citation.
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Hardy-Hazelrigg, Melissa A. |
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Socio-Economic Structure of Retirement Final Report, Assistant Secretary for Policy, Evaluation, and Research, U.S. Department of Labor, 1980 Cohort(s): Older Men Publisher: U.S. Department of Labor Keyword(s): Assets; Educational Attainment; Family Resources; Health/Health Status/SF-12 Scale; Job Tenure; Occupational Status; Pensions; Retirement/Retirement Planning; Social Security; Wages The study investigates the retirement behavior of older males from l969 to l975 within the more general context of labor supply. Using the NLS of Older Men for l969, l97l, l973, l975, labor supply models are estimated for all waves by Heckman's generalized version of Tobit analysis. The core variables in the analysis include health limitations, retirement policies of the work place, family composition, net family assets and hourly wage; measures of job status, education, employment sector, job tenure and unemployment are included as controls. Of the factors considered, health limitations and retirement policies of the work place had the strongest negative effect on the labor supply of older men; family composition variables and employment sector had strong positive effects in the older cohorts. The coordinated effects of compulsory retirement and relatively lucrative pension benefits as well as the existence of a health limitation also appear to interact with Social Security eligibility. The overtime patterns of results suggest the importance of more general economic conditions, prevailing economic trends, and changes in Social Security legislation for labor supply decisions. |
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Bibliography Citation
Hardy-Hazelrigg, Melissa A. "Socio-Economic Structure of Retirement." Final Report, Assistant Secretary for Policy, Evaluation, and Research, U.S. Department of Labor, 1980. |