UM07-03: A Model of Unretirement
Researchers
Abstract
I propose to integrate my previous MRRC research on unretirement, partial retirement, and the labor market for older workers in a new, unified model of retirement. The model generates anticipated unretirement (and partial retirement) transitions through a ‘burnout/recovery’ function, generates unanticipated unretirement transitions through uncertainty in asset returns, and features uncertainty in the likelihood an individual will be able to find a desirable post-retirement job. This research will improve our understanding of post-retirement labor supply, integrating unretirement and partial retirement in a single framework, and offering insight into how work after retirement might be brought into long-term projection models.