English, Article, Journal or magazine article edition: Self-Employment and Labor Market Transitions at Older Ages Donald Bruce; Douglas Holtz-Eakin; Joseph F. Quinn

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Bookmark: http://trove.nla.gov.au/version/73822
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Self-Employment and Labor Market Transitions at Older Ages
Author
  • Donald Bruce
  • Douglas Holtz-Eakin
  • Joseph F. Quinn
Physical Description
  • preprint
Notes
  • Self-employment is an important aspect of the labor market activity of older workers and many wage and salary workers choose a period of self-employment before complete labor force withdrawal. Our analysis of the HRS data indicates that the determinants of self-employment transitions among these workers reflect those of younger workers. In particular, there appears to be an important effect of credit market imperfections, but little impact of employer-provided health insurance. In light of the demographic shift toward a relatively elderly population, these results suggest that the degree to which older workers utilize self-employment as a bridge to complete retirement will be more influenced by the distribution of wealth than by the private sector promise of medical insurance. Viewed from a research perspective, these results suggest the need for explicit modeling of joint life-cycle evolution of asset accumulation and the choice of working in the salaried and self-employed sectors. In addition, our results emphasize the importance of viewing ìretirementî as a process. In addition to transitions from wage and salary work to self-employment (and vice versa), there are interesting patterns of re-entry to the labor force, and to self-employment in particular, that merit further attention.
  • RePEc:crr:crrwps:2000-13
  • RePEc:boc:bocoec:490
Language
  • English
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