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Labor market status and transitions during the pre-retirement years: learning from international differences

Kapteyn, A.; Smith, J.P.; van Soest, H.-M.; Banks, J.; (2007) Labor market status and transitions during the pre-retirement years: learning from international differences. (NBER Working Papers 13536). National Bureau of Economic Research: Cambridge, US. Green open access

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Abstract

Many western industrialized countries face strong budgetary pressures due to the aging of the baby boom generations and the general trends toward earlier ages of retirement. We use the American PSID and the European Community Household Panel (ECHP) to explain differences in prevalence and dynamics of self-reported work disability and labor force status. To that end we specify a two-equation dynamic panel data model describing the dynamics of labor force status and self-reported work disability. When we apply the U.S. parameters to the equations for the thirteen European countries we consider, the result is generally that work disability is lower and employment is higher. Furthermore, measures of employment protection across the different countries suggest that increased employment protection reduces reentry into the labor force and hence is a major factor explaining employment differences in the pre-retirement years.

Type: Working / discussion paper
Title: Labor market status and transitions during the pre-retirement years: learning from international differences
Open access status: An open access version is available from UCL Discovery
Publisher version: http://www.nber.org/papers/w13536
Language: English
Additional information: Please also see http://eprints.ucl.ac.uk/15307 and http://eprints.ucl.ac.uk/15312
Keywords: JEL classification: C81, I12, J28
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/15313
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