The Effects of Pension Reforms on Physician Labour Supply: Evidence from the English NHS
We examine the labour supply response of senior doctors in England following a reform of the public sector pension system that moved employees from a final salary to a career average pension plan, thereby increasing the return to work. Exploiting the staggered rollout of the reform across narrowly defined age groups, we find that doctors increased labour supply in response to this greater return to work by just under 4% four years after exposure, driven by increases on the extensive margin. This implies a labour supply elasticity with respect to the return to work of 0.05.
Speaker profile
Carol Propper is a Professor of Economics at Imperial College Business School, London. Her research seeks to increase understanding of the factors that affect the production of public services and outcomes for users of these services, with a particular focus on healthcare. Her publications include papers on the effect of market incentives on the quality and productivity of healthcare, the impact of environmental factors on health, the effect of competition on public service production, equity in health and healthcare and understanding the links between environmental shocks and health outcomes. She has twice been awarded the Arrow Award for the best paper in the field of health economics and received the American Economic Association 2016 prize for the best paper published in the American Economic Journal: Policy. In 2010 she was awarded a CBE and in 2020 a DBE for her services to economics and public health. She is a Fellow of the British Academy, an International Fellow of the National Academy of Medicine and a past President of the Royal Economic Society.
Weekly seminar series
As part of our Centre's vibrant research culture, we host a weekly seminar series. Visiting and invited researchers present current research relating to the economics of health and wellbeing, and the healthcare sector. Visitors are welcome to join these sessions where discussion and debate is encouraged.
For further information on our seminar series, please contact shannon.stanwell@monash.edu.
Event Details
- Date:
- 20 March 2024 at 12:00 pm – 1:00 pm
- Venue:
- Caulfield campus, Building H, Level 9, Room H9.14
- Categories:
- CHE Seminar; Health Economics
Description
We examine the labour supply response of senior doctors in England following a reform of the public sector pension system that moved employees from a final salary to a career average pension plan, thereby increasing the return to work. Exploiting the staggered rollout of the reform across narrowly defined age groups, we find that doctors increased labour supply in response to this greater return to work by just under 4% four years after exposure, driven by increases on the extensive margin. This implies a labour supply elasticity with respect to the return to work of 0.05.
Speaker profile
Carol Propper is a Professor of Economics at Imperial College Business School, London. Her research seeks to increase understanding of the factors that affect the production of public services and outcomes for users of these services, with a particular focus on healthcare. Her publications include papers on the effect of market incentives on the quality and productivity of healthcare, the impact of environmental factors on health, the effect of competition on public service production, equity in health and healthcare and understanding the links between environmental shocks and health outcomes. She has twice been awarded the Arrow Award for the best paper in the field of health economics and received the American Economic Association 2016 prize for the best paper published in the American Economic Journal: Policy. In 2010 she was awarded a CBE and in 2020 a DBE for her services to economics and public health. She is a Fellow of the British Academy, an International Fellow of the National Academy of Medicine and a past President of the Royal Economic Society.
Weekly seminar series
As part of our Centre's vibrant research culture, we host a weekly seminar series. Visiting and invited researchers present current research relating to the economics of health and wellbeing, and the healthcare sector. Visitors are welcome to join these sessions where discussion and debate is encouraged.
For further information on our seminar series, please contact shannon.stanwell@monash.edu.