Table 3.7: Decomposing the labor supply responses along the intensive and the extensive margins.
(a) The intensive margin: average weekly hours spent on market work between ages 25-55.
Experiment ϕ = 0.2 ϕ = 0.4 ϕ = 0.6 ϕ = 0.8 ϕ = 1 Baseline 29.9 34.07 35.44 36.13 36.54 1 29.75 34.24 35.73 36.47 36.91
2 29.95 34.6 36.14 36.91 37.37
3 30.25 34.92 36.48 37.25 37.72
(b) The extensive margin: actual retirement age. Experiment ϕ = 0.2 ϕ = 0.4 ϕ = 0.6 ϕ = 0.8 ϕ = 1
Baseline 61.48 63.09 63.61 63.86 64.02
2 64.37 65.88 66.24 66.41 66.5 3 65.9 66.89 67.17 67.3 67.38 4 66.9 67.67 67.91 68.02 68.09
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