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Understanding Earnings, Labor Supply, and Retirement Decisions

dc.contributor.authorFan, Xiaodong
dc.contributor.authorSeshadri, Ananth
dc.contributor.authorTaber, Christopher
dc.date.accessioned2018-01-23T16:17:46Z
dc.date.available2018-01-23T16:17:46Z
dc.date.issued2017-09
dc.identifier.citationFan, 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.urihttps://hdl.handle.net/2027.42/140780
dc.description.abstractWe 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.sponsorshipSocial Security Administration, RRC08098401-09. R-UM17-03en_US
dc.language.isoen_USen_US
dc.publisherMichigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104en_US
dc.relation.ispartofseriesWP 2017-367en_US
dc.subjecthuman capital, Ben-Porath, labor supply, retirement, modelen_US
dc.titleUnderstanding Earnings, Labor Supply, and Retirement Decisionsen_US
dc.title.alternativeWP 2017-367en_US
dc.typeWorking Paperen_US
dc.subject.hlbsecondlevelPopulation and Demography
dc.subject.hlbtoplevelSocial Sciences
dc.contributor.affiliationotherUniversity of New South Walesen_US
dc.contributor.affiliationotherUniversity of Wisconsin-Madisonen_US
dc.contributor.affiliationotherUniversity of Wisconsin-Madisonen_US
dc.contributor.affiliationumcampusAnn Arboren_US
dc.description.bitstreamurlhttps://deepblue.lib.umich.edu/bitstream/2027.42/140780/1/wp367.pdf
dc.description.filedescriptionDescription of wp367.pdf : Working paper
dc.owningcollnameRetirement and Disability Research Center, Michigan (MRDRC)


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