Synopses & Reviews
Even as life expectancy in many countries has continued to increase, social security and similar government programs can provide strong incentives for workers to leave the labor force when they reach the age of eligibility for benefits. Disability insurance programs can also play a significant role in the departure of older workers from the labor force, with many individuals in some countries relying on disability insurance until they are able to enter into full retirement.and#160;and#160;and#160;and#160;and#160;and#160;
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The sixth stage of an ongoing research project studying the relationship between social security programs and labor force participation, this volume draws on the work of an eminent group of international economists to consider the extent to which differences in labor force participation across countries are determined by the provisions of disability insurance programs. Presented in an easily comparable way, their research covers twelve countries, including Canada, Japan, and the United States, and considers the requirements of disability insurance programs, as well as other pathways to retirement.
Synopsis
In nearly every industrialized country, large aging populations and increased life expectancy have placed enormous pressure on social security programsandmdash;and, until recently, the pressure has been compounded by a trend toward retirement at an earlier age. With a larger fraction of the population receiving benefits, in coming decades social security in many countries may have to be reformed in order to remain financially viable.
This volume offers a cross-country analysis of the effects of disability insurance programs on labor force participation by older workers. Drawing on measures of health that are comparable across countries, the authors explore the extent to which differences in the labor force are determined by disability insurance programs and to what extent disability insurance reforms are prompted by the circumstances of a countryandrsquo;s elderly population.
Synopsis
In many countries, social security and related government programs provide strong incentives for workers to leave the labor force at a young age. Research has shown that disability insurance programs can play a large role in the departure of older persons from the labor force, as many workers pass through disability insurance on their path from employment to retirement. But what is the real effect that disability insurance programs have on labor-force participation in different countries? In Social Security Programs and Retirement Around the World, renowned economist David A. Wise authoritatively tackles this question. Fifth in the series, this volumeandrsquo;s research encompasses the globe, traveling from Belgium to Canada to Japan and the United States, and covers the provisions of disability insurance programs as well as other pathways to retirement in over twelve countries. Presented in an easily comparable way, the findings in Social Security Programs and Retirement Around the World have profound implications for how the provisions of a countryandrsquo;s disability insurance program affect retirement.
About the Author
David A. Wise is the John F. Stambaugh Professor of Political Economy at the Kennedy School of Government at Harvard University. He is the area director of Health and Retirement Programs and director of the Program on the Economics of Aging at the National Bureau of Economic Research.
Table of Contents
Acknowledgments
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Introduction
David A. Wise
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1.Disability Insurance Incentives and the Retirement Decision: Evidence from the United States
Courtney Coile
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2.Effect of Pensions and Disability Benefits on Retirement in the United Kingdom
James Banks, Carl Emmerson, and Gemma Tetlow
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3.Option Value of Disability Insurance in Canada
Kevin Milligan and Tammy Schirle
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4.Health Status, Disability, and Retirement Incentives in Belgium
Alain Jousten, Mathieu Lefebvre, and Sergio Perelman
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5. Health, Disability Insurance, and Labor Force Exit of Older Workers in the Netherlands
Adriaan Kalwij, Klaas de Vos, and Arie Kapteyn
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6. Retirement, Early Retirement, and Disability: Explaining Labor Force Participation after Fifty-Five in France
Luc Behaghel, Didier Blanchet, and Muriel Roger
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7. Health, Financial Incentives, and Early Retirement: Microsimulation Evidence for Germany
Hendrik Janduuml;rges, Lars Thiel, Tabea Bucher-Koenen, Johannes Rausch, Morten Schuth, and Axel Bandouml;rsch-Supan
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8.Health, Disability Insurance, and Retirement in Denmark
Paul Bingley, Nabanita Datta Gupta, Michael Jandoslash;rgensen, and Peder J. Pedersen
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9.Pathways to Retirement and the Role of Financial Incentives in Sweden
Per Johansson, Lisa Laun, and Mandaring;rten Palme
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10. Health Status, Disability Insurance, and Incentives to Exit the Labor Force in Italy: Evidence from SHARE
Agar Brugiavini and Franco Peracchi
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11. Financial Incentives, Health, and Retirement in Spain
Pilar Garcandiacute;a-Gandoacute;mez, Sergi Jimandeacute;nez-Martandiacute;n, and Judit Vall Castellandoacute;
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12.Option Value of Work, Health Status, and Retirement Decisions in Japan: Evidence from the Japanese Study on Aging and Retirement (JSTAR)
Satoshi Shimizutani, Takashi Oshio, and Mayu Fujii
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Contributors
Author Index
Subject Index