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Late-life work and well-being

Author

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  • Carol Graham

    (The Brookings Institution, USA, and IZA, Germany)

Abstract

Flexible work time and retirement options are a potential solution for the challenges of unemployment, aging populations, and unsustainable pensions systems around the world. Voluntary part-time workers in Europe and the US are happier, experience less stress and anger, and are more satisfied with their jobs than other employees. Late-life workers, meanwhile, have higher levels of well-being than retirees. The feasibility of a policy that is based on more flexible work arrangements will vary across economies and sectors, but the ongoing debate about these multi-tiered challenges should at least consider such arrangements.

Suggested Citation

  • Carol Graham, 2014. "Late-life work and well-being," IZA World of Labor, Institute of Labor Economics (IZA), pages 107-107, November.
    • Handle: RePEc:iza:izawol:journl:y:2014:n:107
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    References listed on IDEAS

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    1. repec:bla:econom:v:68:y:2001:i:270:p:221-41 is not listed on IDEAS
    2. repec:iza:izawol:journl:y:2014:p:107 is not listed on IDEAS
    3. De Neve, Jan-Emmanuel & Oswald, Andrew J., 2012. "Estimating the influence of life satisfaction and positive affect on later income using sibling fixed-effects," LSE Research Online Documents on Economics 51523, London School of Economics and Political Science, LSE Library.
    4. Clark, Andrew E & Oswald, Andrew J, 1994. "Unhappiness and Unemployment," Economic Journal, Royal Economic Society, vol. 104(424), pages 648-659, May.
    5. Milena Nikolova & Carol Graham, 2014. "Employment, late-life work, retirement, and well-being in Europe and the United States," IZA Journal of European Labor Studies, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 3(1), pages 1-30, December.
    6. Graham, Carol & Eggers, Andrew & Sukhtankar, Sandip, 2004. "Does happiness pay?: An exploration based on panel data from Russia," Journal of Economic Behavior & Organization, Elsevier, vol. 55(3), pages 319-342, November.
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    Citations

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    Cited by:

    1. Radó, Márta & Boissonneault, Michaël, 2020. "Short and long-term change in subjective well-being among voluntary and involuntary retirees," The Journal of the Economics of Ageing, Elsevier, vol. 17(C).
    2. Giusta, Marina Della & Longhi, Simonetta, 2021. "Stung by pension reforms: The unequal impact of changes in state pension age on UK women and their partners," Labour Economics, Elsevier, vol. 72(C).
    3. Clemens Hetschko & Andreas Knabe & Ronnie Schöb, 2019. "Looking Back in Anger? Retirement and Unemployment Scarring," Demography, Springer;Population Association of America (PAA), vol. 56(3), pages 1105-1129, June.
    4. Binder, Martin & Blankenberg, Ann-Kathrin, 2021. "Self-employment and Subjective Well-Being," GLO Discussion Paper Series 744, Global Labor Organization (GLO).
    5. Shashwati Banerjee & Kishor Goswami, 2020. "Self-employed or Paid Employed: Who can Earn more among the Slum Dwellers and Why?," Progress in Development Studies, , vol. 20(1), pages 7-25, January.
    6. Carol Graham & Julia Ruiz Pozuelo, 2017. "Happiness, stress, and age: how the U curve varies across people and places," Journal of Population Economics, Springer;European Society for Population Economics, vol. 30(1), pages 225-264, January.
    7. Divya Pradeep & K. C. Adaina & Sonia Kahmei, 2020. "Well-being of North Eastern Migrant Workers in Bangalore," Indian Journal of Human Development, , vol. 14(1), pages 99-114, April.
    8. Jürgen Bitzer & Erkan Gören & Heinz Welsch, 2024. "How the wellbeing function varies with age: the importance of income, health and social relations over the lifecycle," Economica, London School of Economics and Political Science, vol. 91(363), pages 809-836, July.
    9. Marie Blaise & Laetitia Dillenseger, 2023. "Informal Caregivers and Life Satisfaction: Empirical Evidence from the Netherlands," Journal of Happiness Studies, Springer, vol. 24(6), pages 1883-1930, August.
    10. Chen, Wen-Hao, 2019. "Health and transitions into nonemployment and early retirement among older workers in Canada," Economics & Human Biology, Elsevier, vol. 35(C), pages 193-206.
    11. Adrian Chadi & Clemens Hetschko, 2017. "Income or Leisure? On the Hidden Benefits of (Un-) Employment," IAAEU Discussion Papers 201706, Institute of Labour Law and Industrial Relations in the European Union (IAAEU).
    12. Marie Blaise & Laetitia Dillenseger, 2020. "Informal caregivers and life satisfaction: Empirical Evidence from the Netherlands," Working Papers of BETA 2020-55, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    13. Efstratia Arampatzi & Martijn J. Burger & Natallia Novik, 2018. "Social Network Sites, Individual Social Capital and Happiness," Journal of Happiness Studies, Springer, vol. 19(1), pages 99-122, January.
    14. Nikolova, Milena, 2019. "Switching to self-employment can be good for your health," Journal of Business Venturing, Elsevier, vol. 34(4), pages 664-691.
    15. Nikolova, Milena & Cnossen, Femke, 2020. "What makes work meaningful and why economists should care about it," Labour Economics, Elsevier, vol. 65(C).
    16. Cheryl Carleton & Mary T. Kelly, 2022. "Happy at Work - Possible at Any Age?," Villanova School of Business Department of Economics and Statistics Working Paper Series 51, Villanova School of Business Department of Economics and Statistics.
    17. Nikolova, Milena, 2018. "Self-Employment Can Be Good for Your Health," GLO Discussion Paper Series 226, Global Labor Organization (GLO).
    18. Han, Sae Hwang, 2021. "Health consequences of retirement due to non-health reasons or poor health," Social Science & Medicine, Elsevier, vol. 273(C).
    19. Monika Riedel & Helmut Hofer & Birgit Wögerbauer, 2015. "Determinants for the transition from work into retirement in Europe," IZA Journal of European Labor Studies, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 4(1), pages 1-19, December.

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    More about this item

    Keywords

    subjective well-being; job satisfaction; late-life work;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I1 - Health, Education, and Welfare - - Health
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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