Scandinavian Working Papers in Economics

Working Paper Series,
Uppsala University, Department of Economics

No 2003:4: Alternative Approaches to Model Withdrawals from the Labour Market – A Literature Review

Tuulia Hakola ()
Additional contact information
Tuulia Hakola: The Central Pension Security Institute, Postal: 00065 The Central Pension Security Institute, Finland

Abstract: The paper reviews large literature on retirement, keeping in mind the goal of finding a suitable model to the labour market of the older workers in Sweden. The review is divided into six sections. The first section explains the problems of defining retirement. The second section deals with a multitude of labour market exit channels. Specific features of modelling old-age retirement, disability, sick leave, and unemployment of the aged are explained. The third section is concerned with economic and non-economic incentives. Different definitions of economic incentives are described, and the importance of a correct health measure is discussed. The fourth section is concerned with the spousal decision-making, and the fifth with the labour demand effects on retirement. The final chapter goes through strengths and weaknesses of structural and reduced-form models.

Keywords: Retirement; Labour force participation of the older workers

JEL-codes: J14; J26

39 pages, December 20, 2002

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