Elderly Labor and Precautionary Saving
Masaya Yasuoka ()
No 193, Discussion Paper Series from School of Economics, Kwansei Gakuin University
In OECD countries, both life expectancy and elderly labor participation are increasing. The retirement age is being raised continually. The age at which pension benefits start is also being raised by governments. This paper presents an examination of how an increase in elderly labor participation affects saving and fertility in an endogenous fertility model with uncertainty of wage income during the old period. In the model with uncertainty, an increase in elderly labor time reduces savings. Thereby, fertility increases. However, without an increase in the average, an increase in the variance of wage income for elderly people increases savings and reduces fertility.
Keywords: Elderly labor; Fertility; Precautionary saving (search for similar items in EconPapers)
JEL-codes: J14 J13 J26 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:kgu:wpaper:193
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