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The Labor Supply of Older Americans

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Author Info
Alicia H. Munnell
Steven A. Sass () (Center for Retirement Research, Boston College)

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Abstract

This paper summarizes what is known about the labor supply of older men, defined as those 55 and over. The topic is of great interest because older individuals will comprise a much greater portion of the population, so their labor supply will have a significant impact on national output, tax revenues, and the cost of means-tested programs. Most importantly, a greater proportion of older individuals will need to work than do at present, because retirement income systems are contracting and working longer is the only way for most to ensure financial security in their old age. The focus is on men, because women’s work patterns reflect the increasing participation of cohorts over time as well as the factors that affect retirement behavior.

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Paper provided by Center for Retirement Research in its series Working Papers, Center for Retirement Research at Boston College with number wp2007-12.

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Length: 57 pages
Date of creation: Jun 2007
Date of revision: Jun 2007
Handle: RePEc:crr:crrwps:wp2007-12

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  1. Robert K. Triest & Steven A. Sass & Margarita Sapozhnikov, 2006. "Population Aging And The Structure Of Wages," Working Papers, Center for Retirement Research at Boston College wp2006-5, Center for Retirement Research. [Downloadable!]
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    Other versions:
  3. Gordon B.T. Mermin & Richard W. Johnson & Dan Murphy, 2006. "Why Do Boomers Plan to Work So Long?," Working Papers, Center for Retirement Research at Boston College wp2006-19, Center for Retirement Research, revised Nov 2006. [Downloadable!]
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  6. Alicia H. Munnell & Jerilyn Libby, 2007. "Will People Be Healthy Enough to Work Longer?," Issues in Brief ib2007-7-3, Center for Retirement Research, revised Mar 2007. [Downloadable!]
  7. Alicia H. Munnell & Steven Sass & Mauricio Soto & Natalia Zhivan, 2006. "Do Older Workers Face Greater Risk of Displacement?," Issues in Brief ib2006-53, Center for Retirement Research, revised Sep 2006. [Downloadable!]
  8. Janet Currie & Brigitte C. Madrian, 1998. "Health, Health Insurance and the Labor Market," JCPR Working Papers 27, Northwestern University/University of Chicago Joint Center for Poverty Research.
    Other versions:
  9. Hugo Benitez-Silva, 2002. "Job Search Behavior At The End Of The Life Cycle," Working Papers, Center for Retirement Research at Boston College 2002-10, Center for Retirement Research. [Downloadable!]
  10. Leora Friedberg & Anthony Webb, 2006. "Persistence in Labor Supply and the Response to the Social Security Earnings Test," Working Papers, Center for Retirement Research at Boston College wp2006-27, Center for Retirement Research, revised Dec 2006. [Downloadable!]
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  15. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers 01-09, RAND Corporation Publications Department. [Downloadable!]
    Other versions:
  16. Jonathan F. Pingle, 2006. "Social Security's delayed retirement credit and the labor supply of older men," Finance and Economics Discussion Series 2006-37, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  17. Timothy Waidmann & John Bound & Michael Schoenbaum, 1995. "The Illusion of Failure: Trends in the Self-Reported Health of the U.S. Elderly," NBER Working Papers 5017, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  24. Courtney C. Coile & Phillip B. Levine, 2006. "Bulls, bears, and retirement behavior," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 59(3), pages 408-429, April.
  25. Richard W. Johnson & Janette Kawachi, 2007. "Job Changes at Older Ages: Effects on Wages, Benefits, and Other Job Attributes," Working Papers, Center for Retirement Research at Boston College wp2007-04, Center for Retirement Research, revised Feb 2007. [Downloadable!]
  26. Leora Friedberg, 2000. "The Labor Supply Effects of the Social Security Earnings Test," The Review of Economics and Statistics, MIT Press, vol. 82(1), pages 48-63, February. [Downloadable!] (restricted)
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  30. Gary Burtless & Joseph F. Quinn, 2002. "Is Working Longer the Answer for an Aging Workforce?," Boston College Working Papers in Economics 550, Boston College Department of Economics. [Downloadable!]
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  31. Joanna Lahey, 2006. "Age, Women, and Hiring: An Experimental Study," Working Papers, Center for Retirement Research at Boston College wp2006-23, Center for Retirement Research, revised Nov 2006. [Downloadable!]
  32. Marric Buessing & Mauricio Soto, 2006. "The State Of Private Pensions: Current 5500 Data," Issues in Brief ib42, Center for Retirement Research. [Downloadable!]
  33. Chan, Sewin & Stevens, Ann Huff, 2001. "Job Loss and Employment Patterns of Older Workers," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 484-521, April. [Downloadable!] (restricted)
  34. Alicia H. Munnell & Kevin Cahill & Natalia Jivan, 2003. "How Has The Shift To 401(k)s Affected The Retirement Age?," Issues in Brief ib_13, Center for Retirement Research. [Downloadable!]
  35. Alicia H. Munnell, 2003. "The Declining Role Of Social Security," Just the Facts jtf-6, Center for Retirement Research. [Downloadable!]
  36. Alan L. Gustman & Thomas Steinmeier, 2007. "Projecting Behavioral Responses to the Next Generation of Retirement Policies," NBER Working Papers 12958, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  37. Dan A. Black & Xiaoli Liang, 2005. "Local Labor Market Conditions and Retirement Behavior," Working Papers, Center for Retirement Research at Boston College 2005-08, Center for Retirement Research. [Downloadable!]
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  39. Rudolph G. Penner & Richard W. Johnson, 2006. "Health Care Costs, Taxes, and the Retirement Decision: Conceptual Issues and Illustrative Simulations," Working Papers, Center for Retirement Research at Boston College wp2006-20, Center for Retirement Research, revised Nov 2006. [Downloadable!]
  40. Gary Burtless & Joseph F. Quinn, 2000. "Retirement Trends and Policies to Encourage Work Among Older Americans," Boston College Working Papers in Economics 436, Boston College Department of Economics. [Downloadable!]
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