Three Essays on the Labor Supply, Savings and Investment Behavior of Older Workers

by Jack Clift

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Abstract

This paper provides three distinct analyses addressing labor supply, saving and investment behavior of older workers, in the context of the incentives and constraints they face due to employer and government policies. The first paper examines labor supply flexibility and its effect on the labor supply decisions of older workers. The second paper examines whether labor supply flexibility affects investment behavior. The third paper describes the construction and characteristics of a unique dataset with which foundations are laid for understanding pension system incentives and how they influence work and savings behavior over the lifecycle.

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This document was submitted as a dissertation in September 2012 in partial fulfillment of the requirements of the doctoral degree in public policy analysis at the Pardee RAND Graduate School. The faculty committee that supervised and approved the dissertation consisted of Julie Zissimopoulos (Chair), Pierre-Carl Michaud, and Paul Heaton.

This report is part of the RAND Corporation dissertation series. PRGS dissertations are produced by graduate fellows of the Pardee RAND Graduate School, the world's leading producer of Ph.D.'s in policy analysis. The dissertations are supervised, reviewed, and approved by a PRGS faculty committee overseeing each dissertation.

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