Does Delayed Retirement Crowd Out Workforce Welfare? Evidence in China

Does delayed retirement crowd out the welfare of the workforce? To answer this question, a dynamic optimization framework is established to simulate the impact of delayed retirement on the welfare of the working population over time. Simulations are conducted based on practical and feasible paramete...

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Autores principales:	Zhen Hu, James Yang
Formato:	article
Lenguaje:	EN
Publicado:	SAGE Publishing 2021
Materias:	History of scholarship and learning. The humanities AZ20-999 Social Sciences H
Acceso en línea:	https://doaj.org/article/ebc2849f015f4aafb518f8ceaeeb612a
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spelling	oai:doaj.org-article:ebc2849f015f4aafb518f8ceaeeb612a2021-12-02T02:04:43ZDoes Delayed Retirement Crowd Out Workforce Welfare? Evidence in China2158-244010.1177/21582440211054488https://doaj.org/article/ebc2849f015f4aafb518f8ceaeeb612a2021-11-01T00:00:00Zhttps://doi.org/10.1177/21582440211054488https://doaj.org/toc/2158-2440Does delayed retirement crowd out the welfare of the workforce? To answer this question, a dynamic optimization framework is established to simulate the impact of delayed retirement on the welfare of the working population over time. Simulations are conducted based on practical and feasible parameters. Delayed retirement was found to improve the welfare of the working population rather than crowding it out. Furthermore, the results are robust against changes in parameters and modes of supporting elderly individuals. In terms of policymaking, it is suggested that such facts be shared with the public and that a delayed retirement plan be introduced as soon as possible to manage the pension and retirement wave caused by post-1960s baby boomers. However, to ensure that the delayed retirement plan does not lead to a reduction in the welfare of the working population, increases in fertility costs and the pension replacement rate should be appropriately controlled.Zhen HuJames YangSAGE PublishingarticleHistory of scholarship and learning. The humanitiesAZ20-999Social SciencesHENSAGE Open, Vol 11 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	History of scholarship and learning. The humanities AZ20-999 Social Sciences H
spellingShingle	History of scholarship and learning. The humanities AZ20-999 Social Sciences H Zhen Hu James Yang Does Delayed Retirement Crowd Out Workforce Welfare? Evidence in China
description	Does delayed retirement crowd out the welfare of the workforce? To answer this question, a dynamic optimization framework is established to simulate the impact of delayed retirement on the welfare of the working population over time. Simulations are conducted based on practical and feasible parameters. Delayed retirement was found to improve the welfare of the working population rather than crowding it out. Furthermore, the results are robust against changes in parameters and modes of supporting elderly individuals. In terms of policymaking, it is suggested that such facts be shared with the public and that a delayed retirement plan be introduced as soon as possible to manage the pension and retirement wave caused by post-1960s baby boomers. However, to ensure that the delayed retirement plan does not lead to a reduction in the welfare of the working population, increases in fertility costs and the pension replacement rate should be appropriately controlled.
format	article
author	Zhen Hu James Yang
author_facet	Zhen Hu James Yang
author_sort	Zhen Hu
title	Does Delayed Retirement Crowd Out Workforce Welfare? Evidence in China
title_short	Does Delayed Retirement Crowd Out Workforce Welfare? Evidence in China
title_full	Does Delayed Retirement Crowd Out Workforce Welfare? Evidence in China
title_fullStr	Does Delayed Retirement Crowd Out Workforce Welfare? Evidence in China
title_full_unstemmed	Does Delayed Retirement Crowd Out Workforce Welfare? Evidence in China
title_sort	does delayed retirement crowd out workforce welfare? evidence in china
publisher	SAGE Publishing
publishDate	2021
url	https://doaj.org/article/ebc2849f015f4aafb518f8ceaeeb612a
work_keys_str_mv	AT zhenhu doesdelayedretirementcrowdoutworkforcewelfareevidenceinchina AT jamesyang doesdelayedretirementcrowdoutworkforcewelfareevidenceinchina
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Does Delayed Retirement Crowd Out Workforce Welfare? Evidence in China

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