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Title: A new look at technical progress and early retirement
Author: Burlon, Lorenzo
Vilalta-Bufí, Montserrat
Keywords: Innovacions tecnològiques
Technological innovations
Early retirement
Issue Date: Mar-2016
Publisher: Springer Open
Abstract: Technical progress affects early retirement in two opposing ways. On the one hand, it increases real wages and thus produces an incentive to postpone retirement. On the other hand, it erodes workers' skills, making early retirement more likely. We re-examine the effect of technical progress on early retirement in the US. We measure technical change during the whole working life of the individuals and find that its effect on the probability of early retirement is non-monotonic. In particular, when technical change is small, the erosion effect dominates, but when it is large the wage effect dominates. These results may signal that the higher the technical change, the more willing are the elderly to retrain, which has direct policy implications for the design of elderly training programs.
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It is part of: IZA Journal of Labor Policy, 2016, vol. 2016 (5), num. 5, p. 1-39
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ISSN: 2193-9004
Appears in Collections:Articles publicats en revistes (Economia)

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