Unemployment and the Retirement Decisions of Older Workers
Paul Marmora () and
Moritz Ritter ()
Additional contact information
Paul Marmora: Department of Economics, Temple University
No 1401, DETU Working Papers from Department of Economics, Temple University
This paper examines how unemployment late in workers' careers affects the timing of their retirement. Using data from the Survey of Income and Program Participation from 1996 to 2011, we document that unemployed workers permanently leave the labor force at a significantly higher rate than employed workers. This effect is stronger once workers become eligible for social security benefits and it is significantly dampened by the eligibility for unemployment insurance benefits. Unemployed workers, particularly those workers in households with below median wealth, also have a significantly higher social security uptake rate shortly after turning 62 than employed workers. We find little evidence for housing or stock market effects on the timing of retirement.
Keywords: Older Workers; Retirement; Social Security; Unemployment (search for similar items in EconPapers)
JEL-codes: H55 J14 J26 J64 J65 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age, nep-ias and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://www.cla.temple.edu/RePEc/documents/DETU_14_01.pdf First version, 2014 (application/pdf)
Journal Article: Unemployment and the Retirement Decisions of Older Workers (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:tem:wpaper:1401
Access Statistics for this paper
More papers in DETU Working Papers from Department of Economics, Temple University Contact information at EDIRC.
Bibliographic data for series maintained by Dimitrios Diamantaras ().