Semi-Daily Journal Archive

The Blogspot archive of the weblog of J. Bradford DeLong, Professor of Economics and Chair of the PEIS major at U.C. Berkeley, a Research Associate of the National Bureau of Economic Research, and former Deputy Assistant Secretary of the U.S. Treasury.

Wednesday, July 12, 2006

Raising the Retirement Age?

A little evidence on the potential for raising the retirement age:

Greg Mankiw's Blog: Is later retirement a plausible option?: A report by Alicia Munnell, Steven Sass, and Mauricio Soto of Boston College tells us about employer attitudes towards older workers. Their bottom line:

On balance, the survey paints a reasonably optimistic picture. The overwhelming majority of employers said older workers were at least as attractive as younger employees. It will not always be easy for older workers to extend their careers. But the survey suggests that the potential exists. Pushing back the average retirement age, from 63 to 65 or even 67, is thus an important and "reasonable" option for addressing the nation's retirement income challenge.

Of course, those who can't easily keep working through their sixties--and so would be hardest hit by any nationwide increase in expectations of the retirement age--are the poorest. This is a regressive fix.

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