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‘Voluntary’ and ‘involuntary’ early retirement: an international analysis


Dorn, David; Sousa-Poza, Alfonso (2010). ‘Voluntary’ and ‘involuntary’ early retirement: an international analysis. Applied Economics, 42(4):427-438.

Abstract

Recent literature makes a distinction between ‘voluntary’ and ‘involuntary’ early retirement, where ‘involuntary’ early retirement results from employment constraints rather than from a preference for leisure relative to work. This article analyses ‘voluntary’ and ‘involuntary’ early retirement based on international microdata covering 19 industrialized countries. The results show that ‘involuntary’ early retirement is particularly widespread in Continental Europe. Countries facing economic recessions and having strict employment protection legislation have higher shares of ‘involuntary’ retirements among early retirees. Generous early retirement provisions of the social security system do not only make ‘voluntary’ early retirement more attractive for individuals, but also induce firms to push more employees to retire early.

Abstract

Recent literature makes a distinction between ‘voluntary’ and ‘involuntary’ early retirement, where ‘involuntary’ early retirement results from employment constraints rather than from a preference for leisure relative to work. This article analyses ‘voluntary’ and ‘involuntary’ early retirement based on international microdata covering 19 industrialized countries. The results show that ‘involuntary’ early retirement is particularly widespread in Continental Europe. Countries facing economic recessions and having strict employment protection legislation have higher shares of ‘involuntary’ retirements among early retirees. Generous early retirement provisions of the social security system do not only make ‘voluntary’ early retirement more attractive for individuals, but also induce firms to push more employees to retire early.

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32 citations in Web of Science®
42 citations in Scopus®
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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Date:2010
Deposited On:14 Oct 2014 12:19
Last Modified:05 Apr 2016 18:25
Publisher:Taylor & Francis Inc.
ISSN:0003-6846
Additional Information:This is an electronic version of an article published in Applied Economics Volume 42, Issue 4, 2010 . Applied Economics is available online at: http://dx.doi.org/10.1080/00036840701663277
Publisher DOI:https://doi.org/10.1080/00036840701663277

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