Labor-Market Experience of the Almost Old and the Implications for Income Support
Abstract
Old age, like beauty, is in the eye of the beholder. If by old age we mean the period of life characterized by a significant reduction in market work, then a major phenomenon of the last three decades has been that the old among us have gotten considerably younger. Here we briefly review this phenomenon, discuss a parallel growth in broadly defined income support, both public and private, and then provide a mechanism for relating the two.
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