We are grateful for comments from Robert Barsky, John Bound, Rebecca Blank, Charlie Brown, John DiNardo, Matthew Shapiro, Gary Solon, and two anonymous referees. K.K.C. acknowledges support from the National Institutes of Aging.
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HOURS FLEXIBILITY AND RETIREMENT
Article first published online: 27 NOV 2006
DOI: 10.1111/j.1465-7295.2006.00009.x
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How to Cite
CHARLES, K. K. and DECICCA, P. (2007), HOURS FLEXIBILITY AND RETIREMENT. Economic Inquiry, 45: 251–267. doi: 10.1111/j.1465-7295.2006.00009.x
Publication History
- Issue published online: 4 JAN 2007
- Article first published online: 27 NOV 2006
- Online Early publication November 27, 2006
- Abstract
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Data from the Health and Retirement Study indicate that hours constraints are a common feature of jobs held by workers nearing retirement. We present a simple model that predicts that workers who are not free to lower their usual hours of work should be more likely than their unconstrained counterparts to retire by some future date. Our estimates, which are robust to various specifications, support this prediction. The amount by which being hours constrained is estimated to raise retirement probabilities is nearly as large as the effect of being in relatively poor health, suggesting an economically significant effect. (JEL J26, J22, J14)