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Title: Economic Status of the Elderly in Industrial America: Implications for the Rise of the Welfare State

Citation Type: Journal Article

Publication Year: 2000

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Abstract: This paper estimates the expected length of retirement for each labor market cohort between 1850 and 1990. Since 1850, the expected length of retirement has increased by more than six-fold and now represents up to 30 percent of male length of life after entry into the labor force. The rise of the duration of retirement during the twentieth century is analyzed according to the effects of mortality decline and of decreased age of retirement. Implications of the result for a number of economic issues, including the relative importance of life-cycle savings and the potential saving effect of Social Security, are discussed.

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Authors: Lee, Chulhee

Periodical (Full): Korean Economic Journal

Issue: 0

Volume: 40

Pages: 221-248

Data Collections: IPUMS USA

Topics: Aging and Retirement, Labor Force and Occupational Structure

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