Tag: household wealth
![older_workers_10](https://crr.bc.edu/wp-content/uploads/2022/11/older_workers_10-1536x1028.jpg)
Abstract Recessions affect the timing of retirement through two channels, a weaker job market and losses in household wealth. The two phenomena have opposite effects. A weaker economy causes employers to increase permanent job separations and reduce new hires, accelerating retirements that would otherwise have occurred later. Falling household wealth reduces the resources available to…