|Title of host publication||International Encyclopedia of the Social & Behavioral Sciences|
|Editors||James D. Wright|
|Place of Publication||Oxford|
|Number of pages||8|
|Publication status||Published - 2015|
To understand how to raise labor force participation of older workers, it is necessary to understand demand, supply, and institutional factors. Labor supply and retirement decisions of older workers are at the core of microeconomic research and many countries have recently reformed their pension systems to make early retirement financially less attractive. Noneconomic factors like quality of work, health status, social networks, and peer group behavior are important as well. The demand side of the labor market is equally important, particularly now that recent pension reforms have raised labor supply.