Using data from the National Longitudinal Surveys, I analyze short-term changes in the retirement behavior of older white males. The 1969 to 1975 period straddles a major turning point in the Social Security system and allows examination of the hypothesis that older workers quickly respond to policy changes that alter their opportunity structures. Retirement is approached through labor supply, which allows maximum flexibility in analytic conception. Changes in the patterns of results during the 1969–75 period reflect the interaction of the “pull” dynamic of liberalized benefits with other determinants of retirement behavior. The strongest shifts were observed for workers with health limitations and workers facing compulsory retirement but covered by second pensions.
All Science Journal Classification (ASJC) codes
- Sociology and Political Science