年金、退休、退休後勞動供給與財富效果－－擴充的家庭生命周期模型

Pension, Retirement, Postretirement Labor Supply and Wealth Effect: An Extended Family-Life-Cycle Model

本文主要的目的在於考慮資本市場是完全競爭時，建立一擴充的家庭生命周期模型，以分析年金制度的存在與財富變動，如何影響家庭中經濟個體的退休與退休後勞動供給行為，強調整體家庭成員間決策的交互作用及勞動供給的內生性。在本文建立的模型中，年金制度對夫妻退休行為的影響決定於年金給付方式與工作的邊際負效用。至於存在年金制度時，家庭財富增加，對夫妻退休行為與退休後勞動供給的影響是模糊的，因為財富增加除了產生所得效果外，尚有年金效果必須納入考慮，此與傳統單一經濟個體的勞動供給模型認為退休年齡將提前及勞動供給下降的結論不同。因此，夫妻雙方自上一代所獲得遺產或由他人取得的贈予，以及對子女的投資行為，對退休與退休後勞動供給的衝擊無法確定。再者，若將傳統勞動供給模型所獲得結論直接加總，以作為整體經濟勞動供給對財富變動的反應值，將高估了財富效果。

This paper attempts to construct an extended family -life -cyclemodel to nalyse how the existence of pension and the change of wealth affectthe behaviors, of spouse's retirement and postretirement labor supply, undercompetitive capital market. I highlihgt the interaction of spousesemployment behaviors and the endogeneity of labor supply. Under the extendedfamily -life -cycle model, marginal disutility of work and pension systemdecide the effect of pension on spouses retirement. The effect of the changeof wealth on spouse's retirement and postretirement labor supply is ambiguous, because the change of wealth derives wealth effect and pension effect. Thisconclusion is quite different from that of tranditional labor supply modelIn other words, if we utilize the conclusion of tranditional labor supplymodel to estimate the change of overall labor supply, it will beoverestimated. Moreover, based on the consideration of the demand of part-time worker in the future and the reduction of labor cost to improve workenvironment, facilitate rational wage distribution, adjust property tax arenecessary policies.