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The effects of job characteristics on retirement

Published online by Cambridge University Press:  11 February 2020

Péter Hudomiet ,
Michael D. Hurd ,
Andrew M. Parker  and
Susann Rohwedder
Péter Hudomiet
Affiliation:
RAND Corp, 1776 Main Street, Santa Monica, CA, USA
Michael D. Hurd
Affiliation:
RAND Corp, 1776 Main Street, Santa Monica, CA, USA NBER, 1050 Massachusetts Ave., Cambridge, MA, USA NETSPAR, P.O. Box 90153, 5000 LE Tilburg, The Netherlands
Andrew M. Parker
Affiliation:
RAND Corp Pittsburgh, Pittsburgh, PA, USA
Susann Rohwedder*
Affiliation:
RAND Corp, 1776 Main Street, Santa Monica, CA, USA NETSPAR, P.O. Box 90153, 5000 LE Tilburg, The Netherlands
*
*Corresponding author. Email: susannr@rand.org
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Abstract

Along with data about actual, desired, and anticipated job characteristics, this paper uses a novel data element, the subjective conditional probability of working at age 70, to estimate the causal effects of job characteristics on retirement in the United States. Having flexible work hours is the most consistent predictor of retirement preferences and expectations: if all current workers had flexible hours, the fraction working at age 70 would be 0.322, but it would be just 0.172 if none had this option. Job stress, physical, and cognitive job demands, the option to telecommute, and commuting times were additional predictors of retirement expectations.

Keywords

Retirement expectationsstated preferencessubjective probabilitiesworking conditionsJ14J24J26
Type
Article
Information
Journal of Pension Economics & Finance , Volume 20 , Special Issue 3: Retirement Decisions in a Changing Labor Market , July 2021 , pp. 357 - 373
Copyright
Copyright © The Author(s), 2020. Published by Cambridge University Press

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