How Does Job Loss Affect the Timing of Retirement?

Sewin Chan and Ann Stevens

No 8780, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We use the Health and Retirement Study to examine the effects of job loss on factors affecting retirement incentives, including earnings, assets and pensions. We then estimate models of the retirement decision, which take into account the incentive to retire and any additional effects of displacement that are not captured by retirement incentives. There are substantial effects of displacement on retirement incentives as the result of changes to both earnings and pensions. Displacement significantly increases the probability of retirement, but only a small fraction of the displacement-induced changes in retirement behavior and labor force participation are the result of workers responding to these altered retirement incentives.

JEL-codes: J2 J6 (search for similar items in EconPapers)
Date: 2002-02
Note: AG LS
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Citations: View citations in EconPapers (15)

Published as Sewin Chan & Ann Stevens, 2004. "How Does Job Loss Affect the Timing of Retirement?," Contributions to Economic Analysis & Policy, Berkeley Electronic Press, vol. 3(1), article 5, pages 1187-1187.

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