Supplementary data for: Nonconvexities, Retirement, and the Elasticity of Labor Supply

<span>We consider two life cycle models of labor supply that use nonconvexities to generate retirement. In each case we derive a link between hours worked prior to retirement, the intertemporal elasticity of substitution for labor (IES), and the size of the nonconvexities. This link is robust to allowing for credit constraints and human capital accumulation by younger workers and suggests values for the IES that are .75 or higher.</span>

本文考察两类借助非凸性（nonconvexities）刻画退休行为的劳动供给生命周期模型。针对每种模型，我们均推导出退休前劳动时长、劳动跨期替代弹性（intertemporal elasticity of substitution for labor, IES）与非凸性规模三者间的关联关系。该关联关系在年轻工人面临信贷约束、进行人力资本积累的情形下依然保持稳健，且表明劳动跨期替代弹性的取值应不低于0.75。