Seminar: Labor Income as a Resource for Old-Age Support

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Research Program Brown Bag Seminar

When: Apr 21 2009 (All day)
Where: John A. Burns Hall, Room 3012
What:

Labor Income as a Resource for Old-Age Support

Sang Hyop Lee, Fellow, East-West Center
Associate Professor, Department of Economics, University of Hawaii at Manoa

April 21, 2009, Noon – 1:00 pm

John A. Burns Hall, Room 3012, 3rd floor

We present a broad measure of production by age for a wide range of economies here, which provides a basis for constructing economic life-cycle. Using the labor income profiles and other age profiles, we also consider the implications of delaying retirement or increasing the pensionable age. The estimated age profiles of labor income are broadly similar, but there are interesting contrasts in the lifetime earnings share of elderly, in the importance of labor income as a source of financing consumption, and so on. The results from a decomposition analysis suggest that the conventional way of looking at either labor force participation rates or earnings of workers do not provide a comprehensive picture for the economic life-cycle. The results show that the old-age support problems do not go away only because people stay longer in the labor market. The lesson to be learned from this is the importance of policies that maintain the productivity of workers for these groups. The results also show that delaying retirement will lead to a decrease in assets, but this effect will be smaller when the government increases the pensionable age at the same time.

Sang-Hyop Lee is a Fellow in the Research Program at the East-West Center and Associate Professor in the Department of Economics at the University of Hawaii at Manoa. His research encompasses labor economics, population economics, human resources, and applied econometrics. The overall objective of his research is to find key measures of various aspects of human resources factor in production and consumption and their relationship with economic development. He has been published numerous journals and books. He currently serves as the executive director of the annual EWC/KDI conference.




Primary Contact Info:
Name: Laura Moriyama
Phone: 808-944-7444