As baby boomers reach retirement age, demographic pressures on public programs may cause policy makers to cut benefits and encourage employment at later ages. But how much demand exists for older workers? This paper reports on a field experiment to determine hiring conditions for older women in entry-level jobs in two cities. A younger worker is…

A comparative analysis of defined benefit pension plans that were more common before 1980s and the defined contribution plans is presented. It is observed that defined benefit pension plans offered age related incentives thereby encouraging people to retire earlier. In contrast, defined contribution plans encourage people to continue with jobs…

Builds upon Lazear's empirical explanation of mandatory retirement by adding these testable implications: the relationships between mandatory retirement and (1) specific on-the-job training, (2) vested pension plans, and (3) costs of monitoring worker performance. Indicates that a comprehensive explanation requires consideration of human capital…