NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Gemma C. Tetlow

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February 2016Health Capacity to Work at Older Ages: Evidence from the United Kingdom
with James Banks, Carl Emmerson: w21980
This paper estimates how much additional work capacity there might be among men and women aged between 55 and 74 in the United Kingdom, given their health, and how this has evolved over the last decade. The objective is not to suggest how much older people should work but rather to shed light on how much ill-health (as opposed to other constraints and preferences) constrains older individuals’ ability to work. We present two alternative methods, both of which rely on constructing a ‘counterfactual’ employment rate for older people based on the behaviour of other similarly healthy individuals. Both methods suggest that there is significant additional capacity to work among older men and women, but that this has been declining over recent years for women (and possibly also for men). This lat...

Forthcoming: Health Capacity to Work at Older Ages: Evidence from the United Kingdom, James Banks, Carl Emmerson, Gemma Tetlow. in Social Security Programs and Retirement Around the World: The Capacity to Work at Older Ages, Wise. 2016

January 2016Health Capacity to Work at Older Ages: Evidence from the United Kingdom
with James Banks, Carl Emmerson
in Social Security Programs and Retirement Around the World: The Capacity to Work at Older Ages, David A. Wise, editor
This paper estimates how much additional work capacity there might be among men and women aged between 55 and 74 in the United Kingdom, given their health, and how this has evolved over the last decade. The objective is not to suggest how much older people should work but rather to shed light on how much ill-health (as opposed to other constraints and preferences) constrains older individuals’ ability to work. We present two alternative methods, both of which rely on constructing a ‘counterfactual’ employment rate for older people based on the behaviour of other similarly healthy individuals. Both methods suggest that there is significant additional capacity to work among older men and women, but that this has been declining over recent years for women (and possibly also for men). This lat...
April 2014Effect of Pensions and Disability Benefits on Retirement in the United Kingdom
with James Banks, Carl Emmerson
in Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement, David A. Wise, editor
This paper examines to what extent differences in employment rates across those in better and worse health in the UK can be explained by the availability of publicly-funded disability insurance and the financial incentives provided by other retirement income schemes. Using an option value approach, we find that individuals' labor force participation is affected by financial incentives. A one standard deviation change in the option value is estimated to reduce the likelihood of an individual leaving the labor market in the next year by between 2.7 and 3.1 percentage points, relative to an average exit probability of 9.4%. This suggests the variation in financial incentives across different individuals could explain a significant proportion of retirements. However, we find no evidence that i...
February 2014Effect of Pensions and Disability Benefits on Retirement in the UK
with James Banks, Carl Emmerson: w19907
This paper examines to what extent differences in employment rates across those in better and worse health in the UK can be explained by the availability of publicly-funded disability insurance and the financial incentives provided by other retirement income schemes. Using an option value approach, we find that individuals' labor force participation is affected by financial incentives. A one standard deviation change in the option value is estimated to reduce the likelihood of an individual leaving the labor market in the next year by between 2.7 and 3.1 percentage points, relative to an average exit probability of 9.4%. This suggests the variation in financial incentives across different individuals could explain a significant proportion of retirements. However, we find no evidence that i...

Published: Effect of Pensions and Disability Benefits on Retirement in the United Kingdom, James Banks, Carl Emmerson, Gemma Tetlow. in Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement, Wise. 2016

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

 
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