Incoming And Willingness To Work For The Elderly

With the aggravation of aging,there are more and more studies on the issues related to delayed retirement in academic circles,but most of them are carried out from the macro level,limited to the availability of data.There are few studies on the micro-analysis of the labor supply of the elderly,especially on the willingness of the labor supply of the elderly.Therefore,on the basis of previous scholars research,this paper chooses the microcosmic perspective of income and the willingness of the elderly labor supply to explore the impact of different types of income on the willingness of the elderly labor supply.According to the theory of "labor-leisure"about the principle that labor supply rises first and then decreases with the increase of income,and the theory of "life cycle" that people have the ability to smooth their lifetime consumption,this study puts forward two basic hypotheses:first,the willingness of the elderly to supply labor is greatly influenced by the level of the family s total income,but is less affected by the level of personal income.Secondly,pension and permanent assets income can significantly inhibit the willingness of the elderly to work,but the wage income before retirement has little effect on the willingness of the elderly to work.This paper uses the data of China Health and Pension Tracking Survey(CHARLS)in 2011 and uses multiple regression to verify the above hypothesis.The validation results basically confirm the theoretical hypothesis of this study.Firstly,from the perspective of different income ranges,personal income has no significant impact on the willingness to provide labor for the elderly,but the total family income has a negative correlation with the willingness to supply labor for the elderly.Then,from the perspective of income smoothing effect of consumption life cycle,wage income and permanent asset income will not have a significant impact on the willingness to provide labor for the elderly,but pension has a significant negative correlation with the willingness to supply labor for the elderly.It is concluded that higher total family income can effectively inhibit the willingness to supply labor for the elderly,while the level of personal income has little effect on the willingness to supply labor for the elderly.Therefore,the willingness to supply labor for the elderly is a function of the total family income;pension can inhibit the willingness to supply labor for the elderly,while the wage income before retirement has little effect on the willingness to supply labor for the elderly;in this study Due to insufficient data,the relationship between the willingness to supply labor and permanent assets income of the elderly has not been validated effectively.The policy implications of this paper are as follows:firstly,while postponing the pension payment period,we should take appropriate incentives to improve the willingness of the elderly labor supply and support their labor input in the market.Then,we should effectively expand the capacity of the employment market,especially strengthen the vocational skills and professional level of the whole labor force,and construct a harmonious relationship between the new and old labor force's intergenerational replacement.Finally,based on the long-term efficiency of the policy,we should not only adopt the policy of delaying retirement to alleviate labor shortage and prolong working life,but also increase the fertility rate as soon as possible to supplement the new labor force for the labor market.