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Title: Revisiting the Hump-Shaped Wage Profile

Citation Type: Miscellaneous

Publication Year: 2018

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Abstract: This paper shows that the wage path of the typical individual does not decline smoothly in the years before retirement, as implied by the popular hump-shaped specification. Instead, wages are flat for full-time workers, and wage drops are only observed for those who transit into part-time work before fully withdrawing from the labor force. The paper tests the implications of three alternative models of retirement that can generate the observed wage profile. The results of these tests are used to characterize the offered wage profile at older ages and the forces driving retirement transitions.

Url: https://pdfs.semanticscholar.org/aeff/83f731cac75df09d5c66a1f6388dcb71d623.pdf

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Authors: Casanova, María; Attanasio, Orazio; Blundell, Richard; French, Eric; Hurd, Michael; Low, Hamish; Lumsdaine, Robin; Mazzocco, Maurizio; Nesheim, Lars; Peracchi, Franco; Samwick, Andrew

Publisher: CSUF

Data Collections: IPUMS USA

Topics: Labor Force and Occupational Structure

Countries: United States