Considerable disagreement exists about those factors that have
contributed to the decline in the labor force participation of the
elderly during this century. This paper reviews five explanations
for this decline: changes in health status, changes in retirement
policies, changes in population age structure, changes in the composition of the labor force, and age discrimination in employment.
The author concludes that to select or reject retirement policies
without a full understanding of the factors that have led to the
current level of labor force participation among the elderly would
be unwise.
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