Technical Progress and Early Retirement

  title={Technical Progress and Early Retirement},
  author={Avner Ahituv},
This paper claims that technical progress induces early retirement of older workers. It presents a model where human capital is technology specific, so that technical progress erodes some existing human capital. This affects mostly older workers, who have a smaller incentive to learn the new technology, since their career horizon is shorter. Hence, their labor supply declines. We find strong support to this erosion effect in HRS data, which shows that labor of older workers is negatively… CONTINUE READING
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