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on Economics of Ageing |
| By: | Hamed Markazi Moghadam; Patrick A. Puhani; Joanna Tyrowicz |
| Abstract: | To determine how wives’ and husbands’ retirement options affect their spouses’ (and their own) labour supply decisions, we exploit (early) retirement cutoffs by way of a regression discontinuity design. Several German pension reforms since the early 1990s have gradually raised women’s retirement age from 60 to 65, but also increased ages for several early retirement pathways affecting both sexes. We use German Socio-Economic Panel data for a sample of couples aged 50 to 69 whose retirement eligibility occurred (i) prior to the reforms, (ii) during the transition years, and (iii) after the major set of reforms. We find that, prior to the reforms, when several retirement options were available to both husbands and wives, both react almost symmetrically to their spouse reaching an early retirement age, that is both husband and wife decrease their labour supply by about 5 percentage points when the spouse reaches age 60). This speaks in favour of leisure complementarities. However, after the set of reforms, when retiring early was much more difficult, we find no more significant labour supply reaction to the spouse reaching a retirement age, whereas reaching one’s own retirement age still triggers a significant reaction in labour supply. Our results may explain some of the diverse findings in the literature on asymmetric reactions between husbands and wives to their spouse reaching a retirement age: such reactions may in large parts depend on how flexibly workers are able to retire. |
| Keywords: | retirement coordination; labour market participation; household decisions; regression discontinuity design |
| JEL: | J22 J26 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp1187&r=age |
| By: | Inhoe Ku; Wonjin Lee; Aya Abe; Zhu Mengbing; Li Shi; Chungyang Yeh; Dongjin Kim |
| Abstract: | This study compares poverty among older adults in China, Japan, Korea, and Taiwan with that in selected Western societies and explores factors contributing to these high levels of poverty among older adults from a comparative perspective. Lower education levels of older people contribute to high poverty among East Asian older people while multigenerational living arrangements work toward lowering the poverty rate. Among income sources, low levels of income from public transfer programs account for high old-age poverty although high levels of market income and private transfer income partly offset this among older people. Meanwhile, taking account of financial assets and home ownership does not change the comparative features of high old-age poverty among East Asian older people. Our analyses suggest that the future prospect of economic well-being among older people in the region largely hinges on the further development of welfare state programs for older people. |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:lis:liswps:842&r=age |
| By: | Daniel S. Hamermesh; Lea-Rachel Kosnik |
| Abstract: | Using data describing all “Top 5” economics journal publications from 1969-2018, we examine what determines which authors produce less as they age and which retire earlier. Sub-field has no impact on the rate of production, but interacts with it to alter retirement probabilities. A positive, tentative, and contemporary writing style increases persistence in publishing. Authors whose previous work was more heavily cited produce slightly more. Those better-cited with more top-flight publications retire later than others. Declining publication with age arises mostly from habit—there is a very significant increasing positive autocorrelation of publication across the decades of a career. |
| JEL: | A14 J26 |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31175&r=age |
| By: | Edward N. Wolff |
| Abstract: | Using the Survey of Consumer Finances, I find that the Black/white gap in standard net worth widened from 1989 to 2019 but narrowed between Hispanics and (non-Hispanic) whites. When the definition of wealth is expanded to incorporate Social Security and defined benefit pension wealth (both the discounted sum of future benefits), the wealth gap is sharply reduced, especially for the ratio of median wealth. The Black/white and Hispanic/white disparity in Social Security wealth lessened considerably over 1989-2019. In contrast, the Black/white ratio of mean augmented wealth showed no change, though the ratio of median augmented wealth progressed. The Hispanic/white ratio of both mean and median augmented wealth advanced as well. The COVID-19 Pandemic struck in 2020 and hit the minority community much harder than whites in terms of mortality rates. Besides claiming over a million lives overall, it lopped off 4.7 percent of Social Security wealth among whites, 11.5 percent among Blacks, and 13.1 percent among Hispanics. As a result, while mean augmented wealth dipped only 1.2 percent among whites, it fell 6.7 percent among Black households and 7.3 percent among Hispanics. The effect was even stronger on median values – declines of a 2.6, 9.3 and 12.1 percent, respectively. |
| JEL: | D31 J15 |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31200&r=age |
| By: | Colleen Heflin (Center for Policy Research, Maxwell School, Syracuse University, 426 Eggers Hall, Syracuse, NY 13244); Chinedum O. Ojinnaka (Arizona State University); Irma A. Arteaga (University of Missouri-Columbia); Leslie Hodges; Gabriella Alphonso (Maxwell School, Syracuse University) |
| Abstract: | For older adults with hypertension, medication adherence is critical to decreasing hospitalization, poor health outcomes, and healthcare costs. The Supplemental Nutrition Assistance Program (SNAP)—the largest food and nutrition assistance program in the United States—could protect against medication non-adherence. This brief summarizes the findings from a recent study, which linked Missouri Medicaid administrative claims data to SNAP data from 2006 to 2014. The findings suggest that longer and consistent receipt of SNAP benefits was associated with higher levels of antihypertensive medication adherence among Medicaid-insured individuals aged 60 years and older. |
| Keywords: | SNAP, Older Adults, Medication Adherence |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:max:cprpbr:60&r=age |
| By: | Angel de la Fuente |
| Abstract: | En este trabajo se reúnen los resultados de nuestros dos informes anteriores sobre los efectos presupuestarios de la reciente reforma de pensiones y se comparan con las estimaciones del Ministerio de Inclusión, Seguridad Social y Migraciones (MISSM). Seguidamente, se analizan las implicaciones de ambas proyecciones para la evolución esperada de los ingresos, los gastos y el déficit básico del sistema público de pensiones en ausencia de actuaciones correctoras. Finalmente, se investiga si, con cada una de ellas, se cumpliría en el momento actual la condición que activa el mecanismo de ajuste semiautomático establecido como parte del nuevo Mecanismo de Equidad Interterritorial (MEI). |
| Date: | 2023–05 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaeee:eee2023-13&r=age |
| By: | John Edward Sabelhaus; Jeffrey P. Thompson |
| Abstract: | Transfers of wealth between generations—whether through inheritances or inter vivos gifts—are less important in explaining racial disparities in wealth than might be expected. While this factor looms large in the media’s discussions of racial inequality, it explains relatively little of the disparities evident in the data. One reason is that most people, regardless of race, receive no inheritance or other transfer of substantial value. In addition, most recipients of inheritances ultimately consume those bequests and do not plan to leave substantial gifts to their offspring. Further, the assets that account for a large majority of most households’ wealth (employment-based retirement plans and home equity) are not inherited and accumulate slowly over families’ working lives. Using nonparametric decomposition techniques, we show that intergenerational transfers explain only a modest portion of the disparities between white and non-white families. This finding is consistent with prior research, but we improve upon the existing literature in a variety of ways, including augmenting the wealth measure in the Survey of Consumer Finances to account for the value of defined benefit pensions, adding controls for lifetime earnings and the availability and generosity of employer-provided pensions, and capturing some inheritances and inter vivos transfers that are not typically reflected in most studies. When no other controls are included, we find that differences in intergenerational transfers account for 13 to 16 percent of white/non-white private wealth gaps. When we control for lifetime earnings, workplace pensions, and a handful of additional human capital variables, the marginal contribution of intergenerational transfers shrinks considerably, but the combined portion of the racial wealth gap that is explained rises to 80 to 90 percent. Policymakers interested in helping households build wealth are advised to look to ways that would enable them to boost the earnings that they receive over their lifetime. |
| Keywords: | racial wealth gap; inequality; human capital; lifetime earnings; retirement plans; pensions; inheritance |
| JEL: | D14 D31 D63 J15 J24 J32 |
| Date: | 2023–03–07 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedbcq:95748&r=age |
| By: | Laetitia Challe (ERUDITE - Equipe de Recherche sur l’Utilisation des Données Individuelles en lien avec la Théorie Economique - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel, TEPP - Travail, Emploi et Politiques Publiques - UPEM - Université Paris-Est Marne-la-Vallée - CNRS - Centre National de la Recherche Scientifique); Emmanuel Duguet (ERUDITE - Equipe de Recherche sur l’Utilisation des Données Individuelles en lien avec la Théorie Economique - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel, TEPP - Travail, Emploi et Politiques Publiques - UPEM - Université Paris-Est Marne-la-Vallée - CNRS - Centre National de la Recherche Scientifique); François Langot (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CEPREMAP - Centre pour la recherche économique et ses applications - ECO ENS-PSL - Département d'économie de l'ENS-PSL - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres, TEPP - Travail, Emploi et Politiques Publiques - UPEM - Université Paris-Est Marne-la-Vallée - CNRS - Centre National de la Recherche Scientifique); L Yannick (ERUDITE - Equipe de Recherche sur l’Utilisation des Données Individuelles en lien avec la Théorie Economique - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel, TEPP - Travail, Emploi et Politiques Publiques - UPEM - Université Paris-Est Marne-la-Vallée - CNRS - Centre National de la Recherche Scientifique); Loic Du Parquet (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université, TEPP - Travail, Emploi et Politiques Publiques - UPEM - Université Paris-Est Marne-la-Vallée - CNRS - Centre National de la Recherche Scientifique); Pascale Petit (ERUDITE - Equipe de Recherche sur l’Utilisation des Données Individuelles en lien avec la Théorie Economique - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel, TEPP - Travail, Emploi et Politiques Publiques - UPEM - Université Paris-Est Marne-la-Vallée - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The theoretical part of this paper provides the foundations of three statistical discriminations that are specific to the older workers: employers can think that a senior is characterized by (i) a shorter distance to the retirement age, (ii) a larger distance to the technological frontier, and/or (iii) a smaller ability to move from old toward new occupations than a younger worker. In the empirical part of the paper, a controlled experiments is designed in order to test each of these statistical discriminations. We also present a "pure" discrimination equilibrium and a controlled experiments specific to this assumption. Our empirical results, based on data collected in France, support the view that the older worker are discriminated in the hiring process via these 4 channels. This suggests that the French gap in the employment rate of the older workers is partially explained by significant discriminations. |
| Abstract: | La partie théorique de cet article pose les bases de trois discriminations statistiques propres aux seniors : les employeurs peuvent penser qu'un senior se caractérise par (i) une courte distance à l'âge de la retraite, (ii) une distance plus grande à la frontière technologique, et/ou (iii) une plus faible capacité qu'un jeune travailleur à passer d'un ancien vers un nouveaux métiers. Dans la partie empirique de l'article, une expérience contrôlée est conçue afin de tester chacune de ces discriminations statistiques. Nous présentons également un équilibre du marché du travail où il existe de la discrimination "pure". Une expérimentation contrôlée spécifique à cette hypothèse est alors menée. Nos résultats empiriques, basés sur des données collectées en France, confirment l'hypothèse que les seniors sont discriminés à l'embauche via ces 4 canaux. Ceci suggère que l'écart français du taux d'emploi des seniors s'explique en partie par des discriminations importantes. |
| Keywords: | search, matching, life-cycle, discrimination, correspondence test |
| Date: | 2023–04–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-04061727&r=age |
| By: | Sergi Jiménez; Analía Viola |
| Abstract: | Las tendencias demográficas auguran una pirámide poblacional invertida en España para los próximos 30 años. La alta esperanza de vida, el descenso del número de nacimientos y una mayor tasa de dependencia anticipan el cambio radical del paradigma demográfico. En este contexto la idoneidad y la naturaleza del sistema de pensiones establecido en los 60 y los 70 no han sido nunca realmente cuestionadas. Se han sucedido numerosas reformas, que, pretendiendo reducir la generosidad, en realidad no resuelven el problema, ni tampoco abordan el encaje entre el mercado de trabajo y el sistema de pensiones. Especialmente sangrantes son las dos últimas reformas, que, condicionadas por la sostenibilidad política y la presión de los ya jubilados, expanden el gasto y, en menor medida, el ingreso. Una posible solución a la espiral de ingresos y gasto es guiar la generosidad del sistema repartiendo los futuros incrementos de salarios reales entre aumentos nominales de derechos de pensión y reducciones de la generosidad, lo que probablemente contaría con el apoyo de mayores y jóvenes. El sistema de jubilación activa debería contar principalmente con una pensión compatible con el trabajo en todas las edades, sin penalización después de la edad normal de jubilación y con penalización dependiente del nivel salarial antes de la edad normal dejubilación. |
| Date: | 2023–05 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaeee:eee2023-15&r=age |
| By: | Taha Choukhmane; Lucas Goodman; Cormac O'Dea |
| Abstract: | Pareto Efficiency is a core assumption of most models of household decision-making. We test this assumption using a new dataset covering the retirement saving contributions of over a million U.S. individuals. While a vast literature has failed to reject household efficiency in developed countries, we find evidence of widespread inefficiency in our setting: retirement contributions are not allocated to the account of the spouse with the highest employer match rate. This lack of coordination cannot be explained by inertia, auto-enrollment, or simple heuristics. Instead, we find that indicators of weaker marital commitment correlate with the incidence of inefficient allocations. |
| JEL: | D13 D15 D19 J12 |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31195&r=age |
| By: | Alfonso R. Sánchez Martín |
| Abstract: | Este trabajo es el primero de una serie en la que se describe la actualización del modelo de simulación del sistema público de pensiones contributivas de FEDEA (MSSP-OLG), desarrollado por A. Sánchez Martín, con el fin de analizar los efectos de la reforma cerrada recientemente. Además de revisar la calibración del modelo, ha sido necesario introducir en el mismo dos extensiones metodológicas importantes: una que permite modelizar la respuesta a cambios normativos no anticipados y otra que ayuda a recoger mejor el grado de heterogeneidad existente entre agentes en términos de sus bases de cotización y pensiones. Este primer trabajo contiene, además de una breve discusión de las medidas adoptadas como parte de la reforma, una descripción de la versión anterior del modelo que sirve de punto de partida al proyecto, y un primer esbozo de los cambios que se introducen en éste, dejando los detalles técnicos para los dos artículos siguientes. |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaddt:2023-03&r=age |
| By: | Eric Pichet (BSE - Bordeaux Sciences Economiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique) |
| Keywords: | Travail, Retraite, Seniors, Dialogue Social, Système Social, Réforme Des Retraites |
| Date: | 2023–01–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04072395&r=age |
| By: | Jordahl, Henrik (Örebro University School of Business); Blix, Mårten (Ratio, Sweden); Moberg, Linda (Uppsala University); Persson, Lovisa (Kristianstad University, Sweden) |
| Abstract: | We examine the implementation of digital time tracking in home care services in Swedish municipalities. Our study combines original survey data with external measures of quality and costs, allowing us to examine both the perceived and estimated effects of time tracking. According to the responding managers, time tracking has led to improvements in quality and reductions in costs. However, the estimated effects suggest that these managerial perceptions may need to be revised. We found that quality is unaffected or reduced while costs have increased due to the implementation of time tracking. |
| Keywords: | Elderly care; Management accounting; Employee monitoring; Digitalization; Public sector productivity |
| JEL: | H42 H44 L33 |
| Date: | 2023–03–29 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:oruesi:2023_006&r=age |