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Lifecycle Events and Their ConsequencesJob Loss, Family Change, and Declines in Health$
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Kenneth A. Couch, Mary C. Daly, and Julie M. Zissimopoulos

Print publication date: 2013

Print ISBN-13: 9780804785853

Published to Stanford Scholarship Online: January 2014

DOI: 10.11126/stanford/9780804785853.001.0001

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Effects of Late-Life Job Loss on Wealth and Labor Supply

Effects of Late-Life Job Loss on Wealth and Labor Supply

(p.57) Chapter Four Effects of Late-Life Job Loss on Wealth and Labor Supply
Lifecycle Events and Their Consequences

Ann H. Stevens

Jeremy G. Moulton

Stanford University Press

This chapter considers the impact of job loss on economic well-being during retirement. Using data from the Health and Retirement Study (HRS), it compares retirement wealth across individuals who experience a job loss and those who do not. Sizeable differences are reported, especially when the job loss occurs at young ages. Little evidence is found that displaced workers can make up these differences by shifting retirement to a later date. The inability to recover appears related to both the difficulty in becoming reemployed and, if a new job is found, working sufficiently long before retirement to offset the initial declines in assets.

Keywords:   job loss, displacement, late-life, retirement, wealth, HRS

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