Understanding Earnings, Labor Supply, and Retirement Decisions
dc.contributor.author | Fan, Xiaodong | |
dc.contributor.author | Seshadri, Ananth | |
dc.contributor.author | Taber, Christopher | |
dc.date.accessioned | 2018-01-23T16:17:46Z | |
dc.date.available | 2018-01-23T16:17:46Z | |
dc.date.issued | 2017-09 | |
dc.identifier.citation | Fan, Xiaodong, Ananth Seshadri, and Christopher Taber. 2017. “Understanding Earnings, Labor Supply, and Retirement Decisions.” University of Michigan Retirement Research Center (MRRC) Working Paper, WP 2017-367. Ann Arbor, MI. http://mrrc.isr.umich.edu/wp367/ | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/140780 | |
dc.description.abstract | We develop and estimate a model in which individuals make decisions on consumption, human capital investment, labor supply, and retirement. Unlike all previous work, our model allows both an endogenous wage process (which is typically assumed exogenous in the human capital and earnings dynamics literature). In addition, we introduce health shocks. We estimate the model and match the life-cycle profiles of wages, hours and retirement from SIPP data. We analyze the impact of health shocks on retirement, as well as the effect of changes in payroll taxes and increases in the Normal Retirement Age on labor force participation of older Americans. | en_US |
dc.description.sponsorship | Social Security Administration, RRC08098401-09. R-UM17-03 | en_US |
dc.language.iso | en_US | en_US |
dc.publisher | Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104 | en_US |
dc.relation.ispartofseries | WP 2017-367 | en_US |
dc.subject | human capital, Ben-Porath, labor supply, retirement, model | en_US |
dc.title | Understanding Earnings, Labor Supply, and Retirement Decisions | en_US |
dc.title.alternative | WP 2017-367 | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Population and Demography | |
dc.subject.hlbtoplevel | Social Sciences | |
dc.contributor.affiliationother | University of New South Wales | en_US |
dc.contributor.affiliationother | University of Wisconsin-Madison | en_US |
dc.contributor.affiliationother | University of Wisconsin-Madison | en_US |
dc.contributor.affiliationumcampus | Ann Arbor | en_US |
dc.description.bitstreamurl | https://deepblue.lib.umich.edu/bitstream/2027.42/140780/1/wp367.pdf | |
dc.description.filedescription | Description of wp367.pdf : Working paper | |
dc.owningcollname | Retirement and Disability Research Center, Michigan (MRDRC) |
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