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The retirement behaviour of the self-employed in Britain

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  • Simon Parker
  • Jonathan Rougier

Abstract

We analyze the retirement behaviour of older self-employed workers, using a life cycle framework and a multinomial logit model of dynamic employment and retirement choices. Using data from the two-wave Retirement Survey, we find that greater actual or potential earnings decrease the probability of retirement among the self-employed. In contrast to employees, none of gender, health or family circumstances appear to affect self-employed retirement decisions. The dynamic analysis reveals that relatively few employees and virtually no retirees switch into self-employment in later life. The switches that do occur are motivated less by attempts to use self-employment as a bridge job or 'stepping stone' to full retirement, than by self-employment being a last resort for less affluent workers with job histories of weak attachment to the labour market. We compare self-employed and employee retirement behaviour and discuss the policy implications of our results.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/00036840500447807
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 39 (2007)
Issue (Month): 6 ()
Pages: 697-713

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Handle: RePEc:taf:applec:v:39:y:2007:i:6:p:697-713

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Cited by:
  1. Mikaela Backman, 2013. "Who says life is over after 55?- New firm formation and an ageing population," ERSA conference papers ersa13p58, European Regional Science Association.
  2. Stefan Hochguertel, 2010. "Self-Employment around Retirement Age," Tinbergen Institute Discussion Papers 10-067/3, Tinbergen Institute.
  3. Simoes, Nadia & Moreira, Sandrina B. & Crespo, Nuno, 2013. "Individual Determinants of Self-Employment Entry – What Do We Really Know?," MPRA Paper 48403, University Library of Munich, Germany.
  4. Nikolaj Malchow-Møller & James Markusen & Jan Skaksen, 2010. "Labour market institutions, learning and self-employment," Small Business Economics, Springer, vol. 35(1), pages 35-52, July.
  5. J L Ford & K Park & S Sen, 2009. "All Work and No Play: Pecuniary Versus Non-Pecuniary Factors in the Labour Supply of the Elderly," Discussion Papers 09-08, Department of Economics, University of Birmingham.
  6. Backman, Mikaela & Karlsson, Charlie, 2013. "Who says life is over after 55? Entrepreneurship and an aging population," Working Paper Series in Economics and Institutions of Innovation 325, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  7. Stefan Hochguertel, 2010. "Self-Employment around Retirement Age," Tinbergen Institute Discussion Papers 10-067/3, Tinbergen Institute.

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