The Impact of Postponement of Retirement Decision on Intergenerational Income Mobility of Resident Families—Based on the human capital delivery mechanism

Abstract

Abstract: Based on the three-cycle intergenerational overlapping model (OLG model), CFPS (2010-2018) data are used to explore the impact of different levels of human capital on the decision of delaying retirement of household members and the impact of different decision of delaying retirement on the intergenerational income mobility of households. The heterogeneity between agricultural workers and non-agricultural workers in delayed retirement decision is analyzed. The results showed that the lower the level of education and the better the self-rated health status of the fathers, the higher the willingness to choose to delay retirement, and the probability of agricultural workers choosing to delay retirement was higher than that of non-agricultural workers. The intergenerational income mobility of resident households showed a downward trend. The intergenerational income mobility of normal retired households was larger than that of delayed retired households. The intergenerational income mobility of agricultural workers was larger than that of non-agricultural workers. Non-agricultural workers have a positive impact on their offspring’s income through their own education level, while agricultural workers have a positive impact on their offspring’s income mainly through their own income and their offspring’s education level.

Key words: delay retirement, human capital, intergenerational income mobility, OLG model

CLC Number:

F249.2

LIU Run-fang, CHE Yan. The Impact of Postponement of Retirement Decision on Intergenerational Income Mobility of Resident Families—Based on the human capital delivery mechanism[J]. Journal of Guizhou University of Finance and Economics, 2022(05): 92-101.

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