• Vienna Institute of Demography (Ed.)

Vienna Yearbook of Population Research 2014

Health, Education, and Retirement over the Prolonged Life Cycle

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Introduction - Health, education, and retirement over the prolonged life cycle: a selective survey of recent research (Michael Kuhn, Alexia Prskawetz, Uwe Sunde)

What can reverse causation tell us about demographic differences in the social network and social support determinants of self-rated health in later life? (Heather Booth, Pilar Rioseco, Heather Crawford)

The effect of retirement on self-reported health: a gender comparison in Italy (Lucia Coppola, Daniele Spizzichino)

Real wages and labor supply in a quasi life-cycle framework: a macro compression by Swedish National Transfer Accounts (1985-2003) (Haodong Qi)

Working after age 50 in Spain. Is the trend towards early retirement reversing? (Madelín Goméz-León, Pau Miret-Gamundi)

Retirement and leisure: a longitudinal study using Swedish data (Linda Kridahl)

More with less: the Almost Ideal Pension Systems (AIPS) (Gustavo DeSantis)

How large are the effects of population aging on economic inequality? (Joshua R Goldstein, Ronald D. Lee)

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Vienna Yearbook of Population Research 2014
ISSN 1728-4414
Print Edition
ISSN 1728-5305
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ISBN 978-3-7001-7948-1
Print Edition
ISBN 978-3-7001-7924-5
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Real wage and labor supply in a quasi life-cycle framework: a macro compression by Swedish National Transfer Accounts (1985-2003)

    Haodong Qi

Vienna Yearbook of Population Research 2014, pp. 83, 2000/02/21

Health, Education, and Retirement over the Prolonged Life Cycle

doi: 10.1553/populationyearbook2014s83


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doi:10.1553/populationyearbook2014s83

Abstract

This paper examines the life-cycle dynamics of real wages and labor supply in Sweden. The descriptive results lend support to the inter-temporal substitution hypothesis (ISH), as the age patterns of real wages and the labor supply are both hump-shaped. However, the age-wage profiles increasingly shift toward older ages over time, whereas the age-employment profiles do not. This leads to an accentuated difference-in-differences of the two variables from prime working age through retirement, which casts doubt on the explanatory power of the ISH for the lifecycle labor supply. Econometric analysis shows that the intra-temporal elasticity outweighs the inter-temporal elasticity of substitution, and thus provides little support for the ISH. The estimated labor supply elasticity also varies considerably across age groups. This suggests that an array of age-specific parameters are needed in calibrating the overlapping generation model (OLG).

Keywords: Health; Education; Retirement; Sweden

Published Online: 2000/02/21 23:00:00

Object Identifier: 0xc1aa5572 0x003fad5d

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