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Shocks and Transitions from Career Jobs to Bridge Jobs and Retirement: A New Approach

dc.contributor.authorAmeriks, John
dc.contributor.authorBriggs, Joseph
dc.contributor.authorCaplin, Andrew
dc.contributor.authorLee, Minjoon
dc.contributor.authorShapiro, Matthew D.
dc.contributor.authorTonetti, Christopher
dc.date.accessioned2018-08-29T18:14:42Z
dc.date.available2018-08-29T18:14:42Z
dc.date.issued2018-02
dc.identifier.citationAmeriks, John, Joseph Brigg, Andrew Caplin, Minjoon Lee, Matthew D. Shapiro, and Matthew D. Shapiro. 2018. “Shocks and Transitions from Career Jobs to Bridge Jobs and Retirement: A New Approach.” Ann Arbor MI: University of Michigan Retirement Research Center (MRRC) Working Paper, WP 2018-380. http://mrrc.isr.umich.edu/publications/papers/pdf/wp380.pdfen_US
dc.identifier.urihttps://hdl.handle.net/2027.42/145484
dc.description.abstractThis research provides new empirical evidence on late-life labor market activities of American households from a new survey implemented under the Vanguard Research Initiative. The survey features following innovations: It measures detailed job characteristics not only of a career job but also of post-career bridge jobs; it examines reasons of leaving a career job and whether households would have changed their decisions under counterfactual situations; it examines post-career job search behavior of households. The research finds that, even though a direct transition from a career job to full retirement is still the most common pattern, a significant fraction of older Americans reveal interest in working beyond the career job. Within this sample of older Americans with positive financial assets, 38% of had a post-career bridge job and another 7% of them looked for a post-career employment opportunity. Low health or bad business conditions were the not the main reason for leaving the career job. Yet, for the minority of those who did leave career jobs owing to low health or bad economic conditions, had they counterfactually had better health or economic conditions, they likely would have decided to work longer. Those who work longer on their career job or have a post-career bridge job tend to work fewer hours, have a flexible schedule, and receive lower hourly wages.en_US
dc.description.sponsorshipSocial Security Administration, RRC08098401-09, UM17-04. National Institute on Aging P01-AG026571en_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 2018-380en_US
dc.subjectolder workers, retirement transitionsen_US
dc.titleShocks and Transitions from Career Jobs to Bridge Jobs and Retirement: A New Approachen_US
dc.title.alternativeWP 2018-380en_US
dc.typeWorking Paperen_US
dc.subject.hlbsecondlevelPopulation and Demography
dc.subject.hlbtoplevelSocial Sciences
dc.contributor.affiliationumUniversity of Michigan-Ann Arboren_US
dc.contributor.affiliationotherThe Vanguard Group, Inc.en_US
dc.contributor.affiliationotherFederal Reserve Boarden_US
dc.contributor.affiliationotherNew York Universityen_US
dc.contributor.affiliationotherCarleton Universityen_US
dc.contributor.affiliationotherStanford Universityen_US
dc.contributor.affiliationumcampusAnn Arboren_US
dc.description.bitstreamurlhttps://deepblue.lib.umich.edu/bitstream/2027.42/145484/1/wp380.pdf
dc.description.filedescriptionDescription of wp380.pdf : Working paper
dc.owningcollnameRetirement and Disability Research Center, Michigan (MRDRC)


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