The Joint Choice of Retirement Age and Postretirement Hours of Work
The Joint Choice of Retirement Age and Postretirement Hours of Work
复制标题
退休年龄与退休后工作时间的共同选择
DOI：
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发表时间：
1985
影响因子：
3.8
通讯作者：
R. Moffitt
中科院分区：
文献类型：
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作者：
Gary T. Burtless;R. Moffitt
在本文中，我们开发和估计的第一个完整的和内部一致的模型的影响，社会保障的劳动力供给的老年人。我们开发了一个简单的生命周期模型，该模型捕捉了社会保障对退休日期和退休后立即工作时间的联合选择的影响。我们发现，在社会保障的存在下，与这些选择相关的预算约束是高度复杂和非线性的，我们开发了一个最大似然模型，产生一致的参数估计程序。我们的程序避免了选择性偏见存在于以前的研究中，忽略了非线性的约束或只检查自我选择的子样本，排除nonretiers。我们的研究结果表明，社会保障有一个显着的，虽然相对较小，对退休年龄和退休后的工作时间的影响，社会保障的影响随着年龄的增长而增长。
In this paper we develop and estimate the first complete and internally consistent model of the effect of Social Security on the labor supply of the aged. We develop a simple life-cycle model that captures the effect of Social Security on the joint choice of the date of retirement and hours of work immediately after retirement. We show that in the presence of Social Security the budget constraint relating these choices is highly complex and nonlinear, and we develop a maximum likelihood procedure for the model that yields consistent parameter estimates. Our procedure avoids the selectivity biases present in prior studies that have ignored the nonlinearity of the constraint or have examined only self-selected subsamples that exclude nonretirees. Our results show that Social Security has a significant, though relatively small, effect on the age of retirement and postretirement hours of work, and that the effect of Social Security grows with advancing age.