Understanding Earnings, Labor Supply, and Retirement Decisions

Understanding Earnings, Labor Supply, and Retirement Decisions
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了解收入、劳动力供应和退休决定

DOI：
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发表时间：
2017
期刊：
影响因子：
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通讯作者：
Christopher R. Taber
Christopher R. Taber
中科院分区：
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文献类型：
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作者：
Xiaodong Fan;Ananth Seshadri;Christopher R. Taber

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被引文献

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我们开发并估计了一个模型，在该模型中，个人对消费、人力资本投资、劳动力供应和退休做出决策。与所有以前的工作不同，我们的模型既允许内生的工资过程(在人力资本和收入动态文献中通常假设为外生的)。此外，我们还引入了健康冲击。我们根据SIPP数据估计模型并匹配工资、工时和退休的生命周期概况。我们分析了健康冲击对退休的影响，以及工资税的变化和提高正常退休年龄对美国老年人劳动参与率的影响。
We 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.