The labour supply and retirement of older workers: an empirical analysis

This thesis examines the labour supply of older workers, their movement into retirement, and any movement out of retirement and back into work. In particular the labour force participation, labour supply and wage elasticity and other income elasticity of work hours are estimated for older workers and compared to younger workers. The thesis goes on to look at the movement into retirement for older workers as a whole by examining cohorts by gender, wave and age. The thesis also presents a descriptive and quantitative • examination of the changes in income and happiness that occur as an individual retires. Finally the thesis examines the reasons why an individual may return to work from v . retirement. The results of the findings suggest: that younger workers are significantly more responsive to wage and household income changes than older workers