English, Article, Journal or magazine article edition: Technical Progress and Early Retirement Avner Ahituv; Joeph Zeira

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Technical Progress and Early Retirement
Author
  • Avner Ahituv
  • Joeph Zeira
Physical Description
  • preprint
Notes
  • This paper claims that technical progress induces early retirement of older workers. Technical progress erodes technology specific human capital. Since older workers have shorter career horizons, there is less incentive for them or for their employers to invest in learning how to use the new technologies. Consequently, they are more likely to stop working. We call this effect the erosion effect. Since technical progress also raises wages in the economy as a whole and since technical progress is positively correlated across sectors, this presents an opposite effect of technical progress, which we call the wage effect. Using individual and sector data, we separate the two effects and find support for our theory. JEL Specification: J24, J26, O15, O33
  • Early Retirement, Technical Change, Human Capital, Labor For
  • RePEc:crt:wpaper:0801
Language
  • English
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