The Effects of Pensions and Retirement Policies on Retirement in Higher Education

Alan Gustman () and Thomas L. Steinmeier

No 3593, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: A structural retirement model is estimated using data for tenured, male faculty employed in the 1970's at 26 high quality private colleges and universities. Simulations of raising and then abolishing the mandatory retirement age suggest very large increases in full time work by faculty members in their late 60's and early 70's. Simulations also suggest that early retirement incentive programs would offset only a small fraction of the increase in work due to changes in mandatory retirement, and that rents created by these programs exceed savings from induced early retirements, with salaries of replacements further adding to costs.

Date: 1991-01
Note: AG LS
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published as The American Economic Review, Vol. 81, No. 2, pp. 111-115, (May 1991).

Downloads: (external link)
http://www.nber.org/papers/w3593.pdf (application/pdf)

Related works:
Journal Article: The Effects of Pensions and Retirement Policies on Retirement in Higher Education (1991)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:3593

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w3593

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().