skip to content
The market crash and mass layoffs : how the current economic crisis may affect retirement Preview this item
ClosePreview this item
Checking...

The market crash and mass layoffs : how the current economic crisis may affect retirement

Author: Courtney Coile; Phillip B Levine; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, ©2009.
Series: Working paper series (National Bureau of Economic Research), no. 15395.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Recent dramatic declines in U.S. stock and housing markets have led to widespread speculation that shrinking retirement accounts and falling home equity will lead workers to delay retirement. Yet the weakness in the labor market and its impact on retirement is often overlooked. If older job seekers have difficulty finding work, they may retire earlier than expected. The net effect of the current economic crisis on  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Courtney Coile; Phillip B Levine; National Bureau of Economic Research.
OCLC Number: 451718439
Description: 1 online resource (45 pages) : illustrations, digital.
Series Title: Working paper series (National Bureau of Economic Research), no. 15395.
Responsibility: Courtney Coile, Phillip B. Levine.

Abstract:

Recent dramatic declines in U.S. stock and housing markets have led to widespread speculation that shrinking retirement accounts and falling home equity will lead workers to delay retirement. Yet the weakness in the labor market and its impact on retirement is often overlooked. If older job seekers have difficulty finding work, they may retire earlier than expected. The net effect of the current economic crisis on retirement is thus far from clear. In this paper, we use 30 years of data from the March Current Population Survey to estimate models relating retirement decisions to fluctuations in equity, housing, and labor markets. We find that workers age 62 to 69 are responsive to the unemployment rate and to long-run fluctuations in stock market returns. Less-educated workers are more sensitive to labor market conditions and more-educated workers are more sensitive to stock market conditions. We find no evidence that workers age 55 to 61 respond to these fluctuations or that workers at any age respond to fluctuating housing markets. On net, we predict that the increase in retirement attributable to the rising unemployment rate will be almost 50 percent larger than the decrease in retirement brought about by the stock market crash.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/451718439> # The market crash and mass layoffs : how the current economic crisis may affect retirement
    a schema:MediaObject, schema:CreativeWork, schema:Book ;
   library:oclcnum "451718439" ;
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/336879685#Place/cambridge_mass> ; # Cambridge, Mass.
   schema:about <http://dewey.info/class/330/> ;
   schema:about <http://id.worldcat.org/fast/1755654> ; # Global Financial Crisis (2008-2009)
   schema:about <http://experiment.worldcat.org/entity/work/data/336879685#Event/2008_2009> ; # 2008-2009
   schema:about <http://id.loc.gov/authorities/subjects/sh2009003683> ; # Global Financial Crisis, 2008-2009
   schema:about <http://id.worldcat.org/fast/1096292> ; # Retirement--Econometric models
   schema:about <http://id.worldcat.org/fast/1204155> ; # United States.
   schema:about <http://experiment.worldcat.org/entity/work/data/336879685#Topic/retirement_united_states_econometric_models> ; # Retirement--United States--Econometric models
   schema:bookFormat schema:EBook ;
   schema:contributor <http://viaf.org/viaf/135446122> ; # National Bureau of Economic Research.
   schema:contributor <http://viaf.org/viaf/67547789> ; # Phillip B. Levine
   schema:copyrightYear "2009" ;
   schema:creator <http://viaf.org/viaf/954530> ; # Courtney Coile
   schema:datePublished "2009" ;
   schema:description "Recent dramatic declines in U.S. stock and housing markets have led to widespread speculation that shrinking retirement accounts and falling home equity will lead workers to delay retirement. Yet the weakness in the labor market and its impact on retirement is often overlooked. If older job seekers have difficulty finding work, they may retire earlier than expected. The net effect of the current economic crisis on retirement is thus far from clear. In this paper, we use 30 years of data from the March Current Population Survey to estimate models relating retirement decisions to fluctuations in equity, housing, and labor markets. We find that workers age 62 to 69 are responsive to the unemployment rate and to long-run fluctuations in stock market returns. Less-educated workers are more sensitive to labor market conditions and more-educated workers are more sensitive to stock market conditions. We find no evidence that workers age 55 to 61 respond to these fluctuations or that workers at any age respond to fluctuating housing markets. On net, we predict that the increase in retirement attributable to the rising unemployment rate will be almost 50 percent larger than the decrease in retirement brought about by the stock market crash."@en ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/336879685> ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/336879685#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/336879685#Series/nber_working_paper_series> ; # NBER working paper series ;
   schema:name "The market crash and mass layoffs : how the current economic crisis may affect retirement"@en ;
   schema:productID "451718439" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/451718439#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_2009> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/336879685#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
   schema:url <http://ezproxy.eui.eu/login?url=http://papers.nber.org/papers/w15395> ;
   schema:url <http://papers.nber.org/papers/w15395> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/451718439> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/336879685#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
   schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/336879685#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
   schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/336879685#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/451718439> ; # The market crash and mass layoffs : how the current economic crisis may affect retirement
   schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/336879685#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/451718439> ; # The market crash and mass layoffs : how the current economic crisis may affect retirement
   schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/336879685#Topic/retirement_united_states_econometric_models> # Retirement--United States--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh85113347> ;
   schema:name "Retirement--United States--Econometric models"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh2009003683> # Global Financial Crisis, 2008-2009
    a schema:Intangible ;
   schema:name "Global Financial Crisis, 2008-2009"@en ;
    .

<http://id.worldcat.org/fast/1096292> # Retirement--Econometric models
    a schema:Intangible ;
   schema:name "Retirement--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1204155> # United States.
    a schema:Place ;
   schema:name "United States." ;
    .

<http://id.worldcat.org/fast/1755654> # Global Financial Crisis (2008-2009)
    a bgn:Meeting, schema:Event ;
   schema:name "Global Financial Crisis (2008-2009)" ;
    .

<http://viaf.org/viaf/135446122> # National Bureau of Economic Research.
    a schema:Organization ;
   schema:name "National Bureau of Economic Research." ;
    .

<http://viaf.org/viaf/67547789> # Phillip B. Levine
    a schema:Person ;
   schema:familyName "Levine" ;
   schema:givenName "Phillip B." ;
   schema:name "Phillip B. Levine" ;
    .

<http://viaf.org/viaf/954530> # Courtney Coile
    a schema:Person ;
   schema:familyName "Coile" ;
   schema:givenName "Courtney" ;
   schema:name "Courtney Coile" ;
    .

<http://www.worldcat.org/title/-/oclc/451718439>
    a genont:InformationResource, genont:ContentTypeGenericResource ;
   schema:about <http://www.worldcat.org/oclc/451718439> ; # The market crash and mass layoffs : how the current economic crisis may affect retirement
   schema:dateModified "2017-12-23" ;
   void:inDataset <http://purl.oclc.org/dataset/WorldCat> ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.