(UM13-Q5) - Working at Older Ages: the Roles of Work Environment and Psychological Factors.
Marco Angrisani, Michael Hurd, Erik Meijer and Andrew Parker
While financial preparedness for retirement and health shocks are often cited as main predictors of the choice to exit the labor force, other work-related factors may underlie retirement decisions. Changing and unfavorable work conditions may adversely impact one’s motivation and willingness to pursue goals on their career job. This may induce some to seek out alternative employment and others to withdraw from the labor force altogether. Which option prevails hinges crucially on individuals’ financial needs and proclivity to work, as well as on the availability of jobs and perception of job opportunities at older ages. Conceivably, all these factors are linked to and affected by specific personality traits. In this project we will study the pathways in which non-economic work-related dimensions interact with psychological or behavioral factors and influence retirement decisions. This will help us identify other drivers, besides monetary incentives, that may promote labor force attachment at older ages.