Occupational safety and health is an important determinant of workers' welfare. Our theory predicts that firms facing greater shut down risk reallocate resources to improve productivity at the expense of safety. Therefore, at firms facing the greatest shutdown risk due to import competition, safety conditions worsen following an import shock but firm productivity increases. We provide empirical evidence that the growth in Chinese imports in the years 1996-2007 significantly increased injury rates in the competing US manufacturing industries over the short to medium run, particularly at smaller establishments. Back of the envelope calculations show that the increase in injury risk at the smallest firms costs workers the equivalent of a 1 to 2 percent reduction in annual wages.JEL: F16, F66, J81, J32, L60
We provide evidence that average mental, physical, and general health worsens for employed workers in local U.S. labor markets exposed to greater import competition from China. The effects are greatest for mental health. Moving a region from the 25th to 75th percentiles of import exposure corresponds to a 7.8% increase in the morbidity of poor mental health, adding about 3 days of poor mental health per year for the average adult. Concurrently, the ability to afford health care decreases. Our results complement documented consequences of import competition on labor markets and temporary business cycle shocks on health outcomes.
PurposeTo show that retirement is no longer a given, but that not being able to retire may not be a bad thing. Remaining in the workforce might end up being a win‐win situation.Design/methodology/approachThe reader is given an introduction of some of the issues related to retirement, such as demographic, economic, and legal factors. The article discusses how these and other factors affect our ability to retire at 65. Some of the positive aspects of not retiring, including better physical and mental health for the individual and a stronger society, are also introduced.FindingsRetirement as we know it is very likely to soon be a thing of the past. Changes in demographic, economic, and legal factors are forcing us to look at retirement from a different point of view. Studies have shown that people who remain in the workforce at an older age are better off, both physically and mentally. In addition to improved health, being an active contributor to the community will serve the society as a whole.Practical implicationsThe article can serve as an eye‐opener to some people who take retirement for granted. It can also help people that fear not being able to retire, to look more favorably upon the fact that they may have to work additional years before retiring.Originality/valueInstead of only discussing the negative aspects of an aging population, the authors take a different approach and present no retirement as an opportunity, not a problem. Don't fear it, prepare for it.
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