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Aging in the United States and Japan: Economic Trends

51 citations0/0 files storedRePEc: Research Papers in Economics

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Retirement, Disability, and Employment Aging, Elder Care, and Social Issues Financial Literacy, Pension, Retirement Analysis

Abstract

The American population is aging rapidly.Persons 65 and over who now constitute about one-fifth of the population will constitute about two-fifths of the population by 2040.In addition, individuals are living longer.Yet the labor force participation of older Americans has fallen dramatically in recent years.This paper discusses this trend and the principal arguments put forth to explain it.The paper is in two parts.The first part reviews trends in labor force participation and associated trends in Social Security (SS) coverage, firm pension plan coverage, and other factors that are likely to be associated with the labor force participation trends, including demographics.The second part of the paper discusses the incentive effects of SS and retirement plans, with emphasis on firm pension plans.

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References

1979Why Is There Mandatory Retirement?1990Pensions, the Option Value of Work, and Retirement 1986A Structural Retirement Model 1991Job Exit Behavior of Older Men 1986Social Security, Unanticipated Benefit Increases, and the Timing of Retirement 1985Pensions, Labor, and Individual Choice 1984The Effect of Social Security on Retirement in the Early 1970s 1991Aging and the income value of housing wealth

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2018Is Aging the Important Factor for Sustainable Agricultural Development in Korea? Evidence from the Relationship between Aging and Farm Technical Efficiency 1997Chapter 17 The economics of population aging 2000Social Security Incentives for Retirement 2002Mortality Change, the Uncertainty Effect, and Retirement 1999The effect of old age assistance on retirement 1996Disability Insurance Benefits and Labor Supply

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