Increasing the labour force participation rates of older workers is a fundamental component of most OECD （Organization for Economic Cooperation and Development） countries＇ response to the fiscal pressures associate...Increasing the labour force participation rates of older workers is a fundamental component of most OECD （Organization for Economic Cooperation and Development） countries＇ response to the fiscal pressures associated with ageing populations. Both pension reform and employment policies are key elements to achieving such increases in participation and reversing the early retirement trends of recent decades. Econometric modeling results from a panel of 12 OECD countries indicate that labour market variables have a greater influence than social security pension value or the standard age of retirement on the labour force participation rates of males aged 55-64 years. Further results from modeling the potential asymmetric response of participation rates to unemployment rates indicate that a decrease in unemployment rates has a greater impact upon increasing the labour force participation rates of older workers compared to the effect of an increase on unemployment rates has on discouraging participation. We found mixed results for the asymmetric response of participation to an increase or decrease in pension value. Findings thus emphasize the importance of labour market oriented policies to reduce unemployment rates in the developed economies in coming years to address ageing population concerns.展开更多
文摘Increasing the labour force participation rates of older workers is a fundamental component of most OECD （Organization for Economic Cooperation and Development） countries＇ response to the fiscal pressures associated with ageing populations. Both pension reform and employment policies are key elements to achieving such increases in participation and reversing the early retirement trends of recent decades. Econometric modeling results from a panel of 12 OECD countries indicate that labour market variables have a greater influence than social security pension value or the standard age of retirement on the labour force participation rates of males aged 55-64 years. Further results from modeling the potential asymmetric response of participation rates to unemployment rates indicate that a decrease in unemployment rates has a greater impact upon increasing the labour force participation rates of older workers compared to the effect of an increase on unemployment rates has on discouraging participation. We found mixed results for the asymmetric response of participation to an increase or decrease in pension value. Findings thus emphasize the importance of labour market oriented policies to reduce unemployment rates in the developed economies in coming years to address ageing population concerns.
