Pensions, Labor, and Individual Choice
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A01=David A. Wise
aging
america
american
Author_David A. Wise
benefits
career
Category=KCF
Category=KFFP
compensation
contract
crisis
economics
economist
economy
elderly
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
federal
health
job
jobs
labor
pension
pensioners
plans
policy
policymaker
political
politics
prosperity
research
retired
retiree
retirement
social security
unions
wages
wealth
welfare
wellness
workers
workforce
Product details
- ISBN 9780226902937
- Weight: 794g
- Dimensions: 16 x 24mm
- Publication Date: 01 Sep 1985
- Publisher: The University of Chicago Press
- Publication City/Country: US
- Product Form: Hardback
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In recent years a decline in the labor force participation of older workers has combined with rapid current and projected increases in the number of older Americans, producing major policy debates over looming "crises" in social security and, to a lesser extent, in the private pension system. That private system is playing an increasing role in the support of retired workers and promises to be the subject of increasing scrutiny by economists and policymakers alike.
Previous books on private pensions have largely neglected behavioral implications of the features of pension plans. The papers in this volume, developed from material presented at a recent National Bureau of Economic Research conference, address two aspects of the relation between varieties of labor coverage and participation in the labor force. First, age at retirement may be correlated with kind of pension coverage. The papers, in fact, provide strong evidence that individual decisions about when to retire are directly influenced by pension options. Second, pension plans usually impose a high cost on workers who change jobs, which suggests that pension coverage reduces instances of job change. Pensions, Labor, and Individual Choice quantifies these correlations and proposes a conceptual framework within which to view them.
Previous books on private pensions have largely neglected behavioral implications of the features of pension plans. The papers in this volume, developed from material presented at a recent National Bureau of Economic Research conference, address two aspects of the relation between varieties of labor coverage and participation in the labor force. First, age at retirement may be correlated with kind of pension coverage. The papers, in fact, provide strong evidence that individual decisions about when to retire are directly influenced by pension options. Second, pension plans usually impose a high cost on workers who change jobs, which suggests that pension coverage reduces instances of job change. Pensions, Labor, and Individual Choice quantifies these correlations and proposes a conceptual framework within which to view them.
