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Nonconvexities, Ret...
Nonconvexities, Retirement, and the Elasticity of Labor Supply
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- Wallenius, Johanna (author)
- Stockholm School of Economics,Handelshögskolan i Stockholm
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- Rogerson, Richard (author)
- Arizona State University (US)
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(creator_code:org_t)
- American Economic Association, 2013
- 2013
- English.
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In: American Economic Review. - : American Economic Association. - 0002-8282. ; 103:4, s. 1445-1462
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Abstract
Subject headings
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- We consider two life cycle models of labor supply that use nonconvexities to generate retirement. In each case we derive a link between hours worked prior to retirement, the intertemporal elasticity of substitution for labor (IES), and the size of the nonconvexities. This link is robust to allowing for credit constraints and human capital accumulation by younger workers and suggests values for the IES that are .75 or higher.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Publication and Content Type
- art (subject category)
- ref (subject category)
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