By Dirk Hofacker
This well timed booklet investigates the expansion of the early retirement pattern and its various unfold between assorted teams of older staff in fourteen smooth societies. It argues for a differentiated political method of opposite early retirement, which is determined by either pension and employability regulations for older employees. interpreting the early retirement pattern nearly all sleek societies were confronted with because the onset of the globalization procedure within the Nineteen Seventies and Nineteen Eighties, this booklet offers an intensive research of older employees' past due careers and their retirement transitions, in addition to explaining why this pattern has built in a different way among countries. to advertise an efficient reversal of the early retirement development, nationwide policymakers are suggested to not focus their efforts completely on lowering the monetary incentives for an early go out nonetheless found in so much nationwide pension structures. furthermore, it's also instructed that they put money into the employability of older employees, implying a radical reconsideration of the layout of schooling and exertions marketplace regulations. Dirk Hofacker provides a special and complete synthesis of theories describing and explaining the fashion in the direction of early retirement, and seriously discusses their comparative benefits and shortcomings. Researchers and scholars of sociology, economics, gerontology, demography and comparative welfare states shouldn't be with no this booklet and policymakers and practitioners facing exertions marketplace regulations will locate it precious.
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Extra resources for Older Workers in a Globalizing World: An International Comparison of Retirement and Late-Career Patterns in Western Industrialized Countries
It can hence be argued that, by referring theoretically to the supply side only, economic theory disregards important restrictions of retirement behavior and neglects relevant actors, resulting in a systematic overestimation of a single explanatory factor. The disregard of relevant context conditions, however, also points to a second shortcoming of the economic approach. Economists have put enormous effort into a detailed analysis of existing incentives and their labor market consequences on both the macro- and the micro-level.
Retirement increasingly came to constitute a normal as well as a distinctive and firmly established boundary between employment and inactivity, with a largely uniform beginning at formal retirement ages (Kohli and Rein 1991: 21). At the same time, it increasingly turned into a ‘moral institution’ as it provided a legitimate end of employment after which individuals were ‘rewarded’ for their previous contribution to the national economy (Kohli 1987). Hence, life courses in this ‘Fordist life-course regime’ were shaped far more strongly by public institutions and thus displayed a high level of continuity and reliability for the majority of (male) individuals.
Based on pooled State of the art in social science research ● ● 19 macroeconomic time-series data for the period between the 1970s and mid-1990s, both authors analyze the effects of pension systems as well as other social security transfers on the labor supply decisions of senior workers aged 55 to 64 years (1999) in 15 different countries, with special emphasis on possible work disincentive effects on labor supply in old age. Duval’s (2003a) and Johnson’s (2001a, 2001b) approaches partially resemble the perspective of the above studies.
Older Workers in a Globalizing World: An International Comparison of Retirement and Late-Career Patterns in Western Industrialized Countries by Dirk Hofacker