Vienna Yearbook of Population Research 2014 Health, Education, and Retirement over the Prolonged Life Cycle
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Verlag der Österreichischen Akademie der Wissenschaften Austrian Academy of Sciences Press
A-1011 Wien, Dr. Ignaz Seipel-Platz 2
Tel. +43-1-515 81/DW 3420, Fax +43-1-515 81/DW 3400 https://verlag.oeaw.ac.at, e-mail: verlag@oeaw.ac.at |
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DATUM, UNTERSCHRIFT / DATE, SIGNATURE
BANK AUSTRIA CREDITANSTALT, WIEN (IBAN AT04 1100 0006 2280 0100, BIC BKAUATWW), DEUTSCHE BANK MÜNCHEN (IBAN DE16 7007 0024 0238 8270 00, BIC DEUTDEDBMUC)
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Vienna Yearbook of Population Research 2014 Health, Education, and Retirement over the Prolonged Life Cycle
ISSN 1728-4414
Print Edition ISSN 1728-5305 Online Edition ISBN 978-3-7001-7948-1 Print Edition ISBN 978-3-7001-7924-5 Online Edition
doi:10.1553/populationyearbook2014
Vienna Yearbook of Population Research 2014 2015, 210 Seiten, 24x17cm, broschiert
Haodong Qi
S. 83 doi:10.1553/populationyearbook2014s83 Verlag der Österreichischen Akademie der Wissenschaften
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). Published Online: 2015/12/23 06:40:31 Object Identifier: 0xc1aa5576 0x00329fcd Rights: .
Introduction - Health, education, and retirement over the prolonged life cycle: a
selective survey of recent research (Michael Kuhn, Alexia Prskawetz, Uwe Sunde)
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Verlag der Österreichischen Akademie der Wissenschaften Austrian Academy of Sciences Press
A-1011 Wien, Dr. Ignaz Seipel-Platz 2
Tel. +43-1-515 81/DW 3420, Fax +43-1-515 81/DW 3400 https://verlag.oeaw.ac.at, e-mail: verlag@oeaw.ac.at |