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Social Security Programs and Retirement Around the World: Working Longer – Introduction and Summary

Author

Listed:
  • Courtney Coile
  • Kevin S. Milligan
  • David A. Wise
Abstract
This is the introduction and summary to the eighth phase of an ongoing project on Social Security Programs and Retirement Around the World. This project, which compares the experiences of a dozen developed countries, was launched in the mid 1990s following decades of decline in the labor force participation rate of older men. The first several phases of the project document that social security program provisions can create powerful incentives for retirement that are strongly correlated with the labor force behavior of older workers. Subsequent phases of the project have explored disability program provisions and their effects on retirement as well as potential obstacles to promoting work at older ages, including whether there is a link between older employment and youth unemployment and whether older individuals are healthy enough to work longer. In the two decades since the project began, the dramatic decline in men’s labor force participation has ended and been replaced by sharply rising participation rates. Older women’s participation has been rising as well. In this eighth phase of the project, we explore this phenomenon of working longer. We document trends in participation and employment and also consider factors that may help to explain these changes in behavior. We conclude that social security reforms as well as other factors such as the movement of women into the labor force have likely played an important role.

Suggested Citation

  • Courtney Coile & Kevin S. Milligan & David A. Wise, 2018. "Social Security Programs and Retirement Around the World: Working Longer – Introduction and Summary," NBER Working Papers 24584, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:24584
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    References listed on IDEAS

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    1. Jonathan Gruber & David A. Wise, 2010. "Social Security Programs and Retirement around the World: The Relationship to Youth Employment," NBER Books, National Bureau of Economic Research, Inc, number grub08-1.
    2. David A. Wise, 2016. "Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement," NBER Books, National Bureau of Economic Research, Inc, number wise14-1.
    3. David A. Wise, 2012. "Social Security Programs and Retirement around the World: Historical Trends in Mortality and Health, Employment, and Disability Insurance Participation and Reforms," NBER Books, National Bureau of Economic Research, Inc, number wise11-1.
    4. Goldin, Claudia, 2006. "The Quiet Revolution That Transformed Women’s Employment, Education, and Family," Scholarly Articles 2943933, Harvard University Department of Economics.
    5. Costa, Dora L., 1998. "The Evolution of Retirement," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226116082, September.
    6. David A. Wise, 2017. "Social Security Programs and Retirement around the World: The Capacity to Work at Older Ages," NBER Books, National Bureau of Economic Research, Inc, number wise-22.
    7. Jonathan Gruber & David A. Wise, 2004. "Social Security Programs and Retirement around the World: Micro-Estimation," NBER Books, National Bureau of Economic Research, Inc, number grub04-1.
    8. Courtney Coile & Kevin Milligan & David A. Wise, 2017. "Introduction to "Social Security Programs and Retirement around the World: The Capacity to Work at Older Ages"," NBER Chapters, in: Social Security Programs and Retirement around the World: The Capacity to Work at Older Ages, pages 1-33, National Bureau of Economic Research, Inc.
    9. Jonathan Gruber & David A. Wise, 1999. "Introduction to "Social Security and Retirement around the World"," NBER Chapters, in: Social Security and Retirement around the World, pages 1-35, National Bureau of Economic Research, Inc.
    10. Michael Chernew & David M. Cutler & Kaushik Ghosh & Mary Beth Landrum, 2016. "Understanding the Improvement in Disability-Free Life Expectancy in the US Elderly Population," NBER Chapters, in: Insights in the Economics of Aging, pages 161-201, National Bureau of Economic Research, Inc.
    11. Jonathan Gruber & David A. Wise, 2007. "Social Security Programs and Retirement around the World: Fiscal Implications of Reform," NBER Books, National Bureau of Economic Research, Inc, number grub07-1.
    12. Jonathan Gruber & David A. Wise, 1999. "Social Security and Retirement around the World," NBER Books, National Bureau of Economic Research, Inc, number grub99-1.
    13. David A. Wise, 2014. "Discoveries in the Economics of Aging," NBER Books, National Bureau of Economic Research, Inc, number wise13-1.
    14. Claudia Goldin, 2006. "The Quiet Revolution That Transformed Women's Employment, Education, and Family," American Economic Review, American Economic Association, vol. 96(2), pages 1-21, May.
    15. Tammy Schirle, 2008. "Why Have the Labor Force Participation Rates of Older Men Increased since the Mid-1990s?," Journal of Labor Economics, University of Chicago Press, vol. 26(4), pages 549-594, October.
    16. Dora L. Costa, 1998. "The Evolution of Retirement: An American Economic History, 1880-1990," NBER Books, National Bureau of Economic Research, Inc, number cost98-1.
    17. Kevin Milligan & David A. Wise, 2012. "Introduction and Summary to "Social Security and Retirement around the World: Historical Trends in Mortality and Health, Employment, and Disability Insurance Participation and Reforms"," NBER Chapters, in: Social Security Programs and Retirement around the World: Historical Trends in Mortality and Health, Employment, and Disability Insurance Participatio, pages 1-39, National Bureau of Economic Research, Inc.
    18. Jonathan Gruber & David A. Wise, 2007. "Introduction to "Social Security Programs and Retirement around the World: Fiscal Implications of Reform"," NBER Chapters, in: Social Security Programs and Retirement around the World: Fiscal Implications of Reform, pages 1-42, National Bureau of Economic Research, Inc.
    19. Anek Belbase & Geoffrey T. Sanzenbacher & Christopher M. Gillis, 2016. "How Do Job Skills That Decline With Age Affect White-Collar Workers?," Issues in Brief ib2016-6, Center for Retirement Research.
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    Cited by:

    1. Zwick, Thomas & Bruns, Mona & Geyer, Johannes & Lorenz, Svenja, 2022. "Early retirement of employees in demanding jobs: Evidence from a German pension reform," The Journal of the Economics of Ageing, Elsevier, vol. 22(C).
    2. Teresa Ghilarducci & Siavash Radpour & Jessica Forden, 2023. "No Rest for The Weary: Measuring the Changing Distribution of Wealth in The US," SCEPA working paper series. 2023-02, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    3. Malavasi, Chiara & Ye, Han, 2024. "Live Longer and Healthier: Impact of Pension Income for Low-Income Retirees," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302374, Verein für Socialpolitik / German Economic Association.
    4. Torben M. Andersen, 2023. "Pensions and the Nordic Welfare Model," CESifo Working Paper Series 10321, CESifo.
    5. Alfonso R. Sánchez Martín & Sergi Jiménez Martín, 2021. "La compatibilidad del trabajo y el cobro de pensión en España: análisis institucional en el contexto europeo," Studies on the Spanish Economy eee2021-11, FEDEA.
    6. Hernæs, Erik & Kornstad, Tom & Markussen, Simen & Røed, Knut, 2023. "Ageing and labor productivity," Labour Economics, Elsevier, vol. 82(C).
    7. repec:bon:boncrc:crctr224_2024_514 is not listed on IDEAS
    8. Oude Mulders, Jaap & Henkens, C.J.I.M. & van Dalen, Hendrik Peter, 2021. "Employees’ emotional, cognitive, and behavioral responses to increasing statutory retirement ages," Other publications TiSEM 4aab8515-50c9-4c23-bd2f-3, Tilburg University, School of Economics and Management.
    9. Anna Amilon & Mona Larsen, 2023. "Increasing retirement ages in Denmark: Do changes in gender, education, employment status and health matter?," European Journal of Ageing, Springer, vol. 20(1), pages 1-10, December.

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    More about this item

    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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