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Title: The labour supply and retirement of older workers : an empirical analysis
Author: Allan, Stephen
ISNI:       0000 0004 2721 7613
Awarding Body: University of Kent
Current Institution: University of Kent
Date of Award: 2008
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This thesis examines the labour supply of older workers, their movement into retirement, and any movement out of retirement and back into work. In particular the labour force participation, labour supply and wage elasticity and other income elasticity of work hours are estimated for older workers and compared to younger workers. The thesis goes on to look at the movement into retirement for older workers as a whole by examining cohorts by gender, wave and age. The thesis also presents a descriptive and quantitative • examination of the changes in income and happiness that occur as an individual retires. Finally the thesis examines the reasons why an individual may return to work from v . retirement. The results of the findings suggest: that younger workers are significantly more responsive to wage and household income changes than older workers; that there are gradual movements into retirement for workers as a whole but sudden movements into retirement for individuals; that there are significant changes in income and happiness as individuals retire that depend on certain traits; and that life satisfaction is significantly affected by an individual's pre-retirement wage and whether they retire late or not. There is also an important role for pensions both in terms of the fall in income as an individual retires and in the probability that a retiree will return to work.
Supervisor: Green, Francis Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
Keywords: H Social Sciences