Economics and Ageing Volume III: Long-term Care and Finance
This upper level textbook provides a coherent introduction to the economic implications of individual and population ageing. Placing economic considerations into a wider social sciences context, this is ideal reading not only for advanced undergraduate an
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JOSÉ LUIS I PA R R A G U I R R E
Economics and Ageing
José Luis Iparraguirre
Economics and Ageing Volume III: Long-term Care and Finance
José Luis Iparraguirre Age UK London, UK
ISBN 978-3-030-29018-4 ISBN 978-3-030-29019-1 https://doi.org/10.1007/978-3-030-29019-1
(eBook)
© The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2020 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors, and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: © Darren Nakata / EyeEm This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Contents
Part I Labour Economics and Ageing 1
The Older Labour Force 1.1 Scope of Labour Economics with Regard to Ageing 1.1.1 Alternative Conceptualisations of Work 1.1.2 The Three Analytical Perspectives 1.1.3 Definition of Older Worker 1.2 Labour Demand 1.3 Labour Supply 1.4 Economic Activity 1.5 Substitution and Complementarity Between Younger and Older Workers 1.5.1 The Effect of the Size of the Cohort 1.5.2 The Effect of the Business Cycle 1.6 Paid Employment in Later Life 1.6.1 Pull and Push Factors 1.6.2 Labour Force Participation and Health 1.6.3 Motivation to Remain in Paid Employment 1.6.4 Employment and Pensions 1.6.5 Self-employment 1.6.6 Number of Hours Worked 1.6.7 Underemployment and Overemployment 1.6.8 The ‘Lump-of-Labour’ Fallacy
1 3 3 5 9 10 11 12 16 24 25 27 29 29 31 38 41 42 44 47 48
v
vi
Contents
1.7
Voluntary Work 1.7.1 Extent 1.7.2 Contribution 1.7.3 Theories 1.7.4 Reasons and Drivers 1.7.5 Intergenerational Transmission 1.8 Unemployment 1.8.1 Job Search 1.8.2 Long-Term Unemployment 1.8.3 Scarring Effects of Unemployment 1.8.4 Job Search and Re-employment 1.9 Economic Inactivity 1.10 Retirement 1.10.1 Retirement as a Social Institution, a Pro
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