Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Working Paper
Dissecting the Great Retirement Boom
See, Kurt; Birinci, Serdar; Faria-e-Castro, Miguel (2024-07)
Between 2020 and 2023, the fraction of retirees in the working-age population in the U.S. increased above its pre-pandemic trend. Several explanations have been proposed to rationalize this gap, such as the rise in net worth due to higher asset returns, the labor market's deterioration due to higher unemployment risk, the expansion of fiscal support programs, and increased mortality risk. We quantitatively study the interaction of these factors and decompose their relative contribution to the recent rise in retirements using an incomplete markets, overlapping generations model with a ...
Working Papers , Paper 2024-017

Working Paper
Time Averaging Meets Labor Supplies of Heckman, Lochner, and Taber
Sargent, Thomas J.; Graves, Sebastian; Gregory, Victoria; Ljungqvist, Lars (2025-01-08)
We add endogenous career lengths to the Heckman, Lochner, and Taber (1998a) (HLT) model with its credit markets and within-period labor supply indivisibilities, all of which are essential features of Ljungqvist and Sargent (2006) “time-averaging.” A benchmark social security system puts all workers at corner solutions of their retirement decisions. That lets our model reproduce most outcomes in HLT’s model with its inelastic labor supply and mandatory retirement date for all types of workers. Eight types of workers are indexed by pairs of innate abilities and choices of education ...
Working Papers , Paper 2023-012

Working Paper
Dissecting the Great Retirement Boom
See, Kurt; Birinci, Serdar; Faria-e-Castro, Miguel (2025-08-19)
Between 2020 and 2023, the fraction of retirees in the working-age population in the U.S. increased above its pre-pandemic trend. Several explanations have been proposed to rationalize this gap, including increases in net worth, the deterioration of the labor market with higher job separations, the expansion of fiscal transfer programs, and higher mortality risk. We develop an incomplete markets, overlapping generations model with a frictional labor market to quantitatively study the interaction of these factors and decompose their contributions to the rise in retirements. We find that new ...
Working Papers , Paper 2024-017

Working Paper
Flexible Retirement and Optimal Taxation
Ndiaye, Abdoulaye (2017-11-03)
This paper studies optimal insurance against private idiosyncratic shocks in a life-cycle model with intensive labor supply and endogenous retirement. In this environment, the optimal labor tax is hump-shaped in age: insurance benefits of taxation push for increasing-in-age taxes while rising labor supply elasticities and optimal late retirement of highly productive workers push for lowering taxes for old workers. In calibrated numerical simulations, the optimum achieves sizable welfare gains that age-dependent taxes do not deliver under the status quo US Social Security. Nevertheless, an ...
Working Paper Series , Paper WP-2018-18

Journal Article
Saving for Retirement with Job Loss Risk
Grochulski, Borys; Zhang, Yuzhe (2013-01)
This article studies a tractable theoretical model of optimal consumption and saving decisions with endogenous retirement. Particular attention is paid to the impact of an increase in the risk of losing one?s job on the optimal path of consumption and wealth accumulation. Even if one does not actually lose their job, an increase in the risk of a job loss is by itself sufficient to cause lower consumption, higher saving, and, through faster retirement, lower labor supply.
Economic Quarterly , Issue 1Q , Pages 45-81

Report
Why New England’s Labor Force Participation Has Been Recovering So Slowly since the COVID-19 Pandemic
Burke, Mary A.; Nelson, Nathaniel R. (2025-01-01)
This report investigates a variety of factors that may explain why New England experienced a participation recovery gap from 2019 through 2023 and discusses the resulting policy implications.
New England Public Policy Center Research Report , Paper 25-1

Working Paper
Occupational Choice, Retirement, and the Effects of Disability Insurance
Jacobs, Lindsay (2016-06)
There is much variation in the physical requirements across occupations, giving rise to great differences in later-life productivity, disability risk, and the value of Social Security Disability Insurance (SSDI). In this paper, I look at how such differences across occupations affect initial career choice as well as the extent to which SSDI, which insures shocks to productivity due to disability, prompts more people to choose physically intense occupations. Using data from the Health and Retirement Study (HRS) and the Current Population Survey (CPS), I estimate a dynamic model of occupational ...
Finance and Economics Discussion Series , Paper 2016-051

Working Paper
Labor Force Participation: Recent Developments and Future Prospects
Smith, Christopher L.; Aaronson, Stephanie; Fallick, Bruce; Galbis-Reig, Felix; Wascher, William L.; Cajner, Tomaz (2014-09-10)
Since 2007, the labor force participation rate has fallen from about 66 percent to about 63 percent. The sources of this decline have been widely debated among academics and policymakers, with some arguing that the participation rate is depressed due to weak labor demand while others argue that the decline was inevitable due to structural forces such as the aging of the population. In this paper, we use a variety of approaches to assess reasons for the decline in participation. Although these approaches yield somewhat different estimates of the extent to which the recent decline in ...
Working Papers (Old Series) , Paper 1410

show more (41)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords