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Title: Wage Declines Among Older Men
Resulting in 1 citation.
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Johnson, Richard W. Neumark, David B. |
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Wage Declines Among Older Men Preliminary Paper, Population Studies Center, the University of Pennsylvania, 1992 Cohort(s): Older Men Publisher: University of Pennsylvania Press Keyword(s): Age and Ageing; Human Capital; Social Security; Wage Dynamics; Wage Growth; Wage Rates; Wages, Men This paper re-examines the evidence an whether real wages decline with age among older men. While the human capital model of wage growth predicts that wages will fall as workers near the end of their career, we demonstrate that two alternative theories -- based on the shirking model and the forced-saving hypothesis -generally do not predict wage declines for older workers. Our analysis indicates that factors other than the depreciation of human capital can explain most of the drop in wages. In particular, longitudinal estimation of age-wage profiles reveals that much of the observed decline in cross-sectional data results from the tendency of lower-wage workers to remain at work while collecting Social Security. |
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Bibliography Citation
Johnson, Richard W. and David B. Neumark. "Wage Declines Among Older Men." Preliminary Paper, Population Studies Center, the University of Pennsylvania, 1992. |