Employment Status, Quality of Matching, and Retirement in Korea

Evidence from Korean Longitudinal Study of Aging

Chulhee Lee, Jinkook Lee

Published Feb 17, 2011

This paper explores how and why the probability of retirement differs between self-employed and wage-and-salary workers. It finds self-employed workers are less likely to retire than wage-and-salary ones, and that differences in retirement incomes, health, productivity, job characteristics, and compulsory retirement practices do not explain the disparity. This study suggests that the difference between self-employed and wage-and-salary workers in the quality of matching between the job and the worker (i.e., required and desired amount of work efforts) explains the later retirement of the self-employed. It notes the implications of these findings for labor-force participation at older ages and how policies might boost employment of the elderly.

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Lee, Chulhee and Jinkook Lee, Employment Status, Quality of Matching, and Retirement in Korea: Evidence from Korean Longitudinal Study of Aging. Santa Monica, CA: RAND Corporation, 2011. https://www.rand.org/pubs/working_papers/WR834.html.
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