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This chapter develops empirical measures of the economic incentives for deferred retirement among older workers. Using a new data file on pay and pensions, we construct intertemporal budget sets reflecting income available to workers at alternative retirement ages. The analysis explores how continued labor force attachment is rewarded in terms of net earnings, Social Security benefits, and private pension income.


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© National Bureau of Economic Research. Reprinted with permission. All rights reserved.

Suggested Citation
Mitchell, O. S., & Fields, G. S. (1985). Rewards for continued work: The economic incentives for postponing retirement [Electronic version]. In M. David & T. Smeeding (Eds.), Studies in Income and Wealth: Vol. 50. Horizontal equity, uncertainty, and economic well-being (pp. 269-286). Chicago, IL: University of Chicago Press.