Universal pension scheme and job searching

Yao-Tung Chen, Ai-Ju Shao, Shih-Chung Chang, Hsin-Fu Huang and Fang-Kuo Wang

Applied Economics Letters, 2021, vol. 28, issue 10, 802-806

Abstract: This paper examines whether a change in the amount of universal pension fund has any effect on a typical individual’s propensity to accept a job offer in the first period. The pension system will give the individual who is assumed to live for three periods a fixed amount in the third period regardless of his choice in the previous two periods to accept a job offer or not. It is found: with a grant in place after retirement, if a typical individual places much emphasis on current consumption, a rise in the grant will lead to an increase in his propensity to accept a job offer in the first period; in contrast, if future consumption is emphasized much, the opposite result will be obtained. Finally, the empirical evidence based on a questionnaire survey is provided to support the above-mentioned theoretical results.

Date: 2021
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DOI: 10.1080/13504851.2020.1782329

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