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Institutional Affiliation: RAND Corporation
NBER Working Papers and Publications
|October 2019||The Effects of Job Characteristics on Retirement|
with Péter Hudomiet, Michael D. Hurd, Susann Rohwedder: w26332
This paper presents results based on a survey fielded in the RAND American Life Panel that queried older workers about their current, desired, and expected job characteristics, and about how certain job characteristics would affect their retirement. Having access to flexible work hours was found to be the most consistent predictor of retirement expectations. For example, we estimated that the fraction of individuals working after age 70 would be 32.2% if all workers had flexible hours, while the fraction working would be 17.2% if none had the option of flexible hours. We further found that job stress, physical and cognitive job demands, the option to telecommute, and commuting times were also strong predictors of retirement expectations. By comparing workers’ current job characteristics wi...
|August 2019||The Effects of Job Characteristics on Retirement|
with Péter Hudomiet, Michael D. Hurd, Susann Rohwedder
in Incentives and Limitations of Employment Policies on Retirement Transitions: Comparisons of Public and Private Sectors, Robert L. Clark and Joseph P. Newhouse, organizers
Along with data about actual, desired, and anticipated job characteristics, this paper uses a novel data element, the subjective conditional probability of working at age 70, to estimate the causal effects of job characteristics on retirement in the United States. Having flexible work hours is the most consistent predictor of retirement preferences and expectations: if all current workers had flexible hours, the fraction working at age 70 would be 0.322, but it would be just 0.172 if none had this option. Job stress, physical, and cognitive job demands, the option to telecommute, and commuting times were additional predictors of retirement expectations.