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Retirement patterns in Hong Kong: A censored regression analysis

Author

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  • Wing Suen

    (School of Economics and Finance, The University of Hong Kong, Pokfulam Road, Hong Kong)

Abstract

This paper provides an overview of retirement patterns in Hong Kong on the basis of limited data. A censored regression model is used to infer the retirement age from people`s current retirement status and their current age. This model is equivalent to a restricted probit model, and the interpretation of parameters is straightforward. The results clearly show a negative income effect on the retirement decision. The retirement age seems to be positively related to lifetime earnings but negatively related to the rate of decline of earnings with age. JEL classification: C24, J14, J26

Suggested Citation

  • Wing Suen, 1997. "Retirement patterns in Hong Kong: A censored regression analysis," Journal of Population Economics, Springer;European Society for Population Economics, vol. 10(4), pages 443-461.
    • Handle: RePEc:spr:jopoec:v:10:y:1997:i:4:p:443-461
    Note: Received May 6, 1996 / Accepted February 5, 1997
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    More about this item

    Keywords

    Retirement age · probit model · cohort analysis;

    JEL classification:

    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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