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Technical Progress, Sorting, and Early Retirement
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[cat] El progrés tecnològic afecta a la jubilació anticipada a través de dues forces oposades. Per una banda, augmenta el salari real i, per tant, crea incentius per posposar la jubilació. Per altra banda, causa l’erosió de les habilitats dels treballadors, el qual augmenta la probabilitat de jubilació anticipada. En aquest article reexaminem l’efecte del progrés tecnològic en la jubilació anticipada tenint en compte que, al principi de la vida laboral, els individus es distribueixen en diferents sectors segons la seva habilitat. Obtenim dos resultats principals: 1) per petits (grans) canvis tecnològics, l’efecte salari (erosió) domina, i 2) els individus més capaços resisteixen millor l’efecte erosió.
[eng] Technological progress has been shown to affect early retirement via two opposite forces. On the one hand, it increases real wages and, therefore, creates incentives to delay retirement. On the other hand, it causes an erosion of workers' skills, which raises the probability of early retirement. We reexamine the effect of technological progress on early retirement by taking into account that, at the beginning of their working life, individuals sort into sectors according to their ability level. This gives us two main results: 1) for small (large) technical changes the wage (erosion) effect dominates, and 2) the more able individuals resist better the erosion effect.
[eng] Technological progress has been shown to affect early retirement via two opposite forces. On the one hand, it increases real wages and, therefore, creates incentives to delay retirement. On the other hand, it causes an erosion of workers' skills, which raises the probability of early retirement. We reexamine the effect of technological progress on early retirement by taking into account that, at the beginning of their working life, individuals sort into sectors according to their ability level. This gives us two main results: 1) for small (large) technical changes the wage (erosion) effect dominates, and 2) the more able individuals resist better the erosion effect.
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BURLON, Lorenzo and VILALTA-BUFÍ, Montserrat. Technical Progress, Sorting, and Early Retirement. Documents de treball (Facultat d'Economia i Empresa. Espai de Recerca en Economia). 2013. Vol. E13/294. ISSN 1136-8365. [consulted: 7 of October of 2026]. Available at: https://hdl.handle.net/2445/48441