Fixed Costs, Retirement and the Elasticity of Labor Supply

Johanna Wallenius and Richard Rogerson

No 250, 2011 Meeting Papers from Society for Economic Dynamics

Abstract: We analyze the forces that can generate retirement in different versions of standard life cycle models of labor supply. While nonconvexities in production can generate retirement, we show that the size of nonconvexities needed increases sharply as the intertemporal elasticity of substitution for labor decreases.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed011:250

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