Essays on the Labor Force Participation of Older Men

Essays on the Labor Force Participation of Older Men

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In the second chapter, my co-author (David Blau) and I examine trends in the Labor Force Participation Rate (LFPR) of older men. After nearly a full century of decline, the LFPR of older men in the United States leveled off in the 1980s, and began to increase in the late 1990s. We use a time series of cross sections from 1962 to 2005 to model the LFPR of men aged 55-69, with the aim of determining whether changes in the rules governing Social Security benefits can explain these trends. Our results indicate that the decline in the LFPR from the 1960s through the 1980s cannot be explained by the increasing generosity of Social Security during this period. The recent increase in the LFPR of older men can be explained by changes in the composition of the older male population away from high school dropouts and toward college attendees and graduates. Changes in Social Security may have contributed to the recent increase as well, but this result is sensitive to specification.Although these drops are non-random, the estimates presented in this paper are not sensitive to including the omitted observations.14 The final analysis sample includes 8, 021 person-year records. Descriptive statistics are presented in Table anbsp;...

Title:Essays on the Labor Force Participation of Older Men
Author:Ryan Michael Goodstein
Publisher:ProQuest - 2008


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