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Title: The Trend in Retirement

Citation Type: Miscellaneous

Publication Year: 2009

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Abstract: A model with leisure production and endogenous retirement is used to explain the declining labor force participation rates of elderly males. The model is calibrated to cross-sectional data on the labor force participation rates of elderly US males by age, their median drop in marketconsumption and leisure good expenditure share in the year 2000. Running the calibrated model for the period 1850 to 2000, a prediction of the evolution of the cross-section is obtained. The model is able to predict more than 87 percent of the increase in retirement of men over 65. The increase in retirement is driven by rising real wages and a falling price of leisure goods over time.

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Authors: Kopecky, Karen A.

Publisher: The University of Western Ontario

Data Collections: IPUMS USA

Topics: Aging and Retirement

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