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A life-cycle analysis of ending mandatory retirement

Katerina Koka and Stephen Kosempel

No 1312, Working Papers from University of Guelph, Department of Economics and Finance

Abstract: In this paper a life-cycle model is constructed to study the macroeconomic effects and welfare implications associated with eliminating mandatory retirement. Our short run analysis reveals that changes in welfare during the transition depend on the dynamic nature of the wage rate adjustment process. We distinguish between transitions in which the wage rate clears the labor market and transitions with a sticky wage and youth unemployment. We also examine political feasibility by measuring the popular support that this type of policy might have under the two labor market scenarios. Finally, we identify the effects that the policy has on welfare in the long run.

Keywords: mandatory retirement; life-cycle model (search for similar items in EconPapers)
JEL-codes: E24 E61 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2013
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Published in Economic Modelling 38, 2014, 57-66.

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Journal Article: A life-cycle analysis of ending mandatory retirement (2014) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:gue:guelph:2013-12

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