Spousal Effect and Timing of Farmers' Early Retirement Decisions
AbstractThe retirement decisions of individuals are strongly influenced by spousal retirement, financial incentives and institutional constraints such as access to early retirement benefits. In the European Union (EU), farm retirement is encouraged by early retirement provisions for farmers. As exit from farming determines the characteristics of structural change in agriculture, it is important to find out how spousal retirement and economic incentives affect the timing and type of retirement decisions among elderly farmers. This paper analyses the timing of early retirement decisions of farming couples using duration analysis and different exit channels. The empirical analysis is based on Finnish farm-level panel data for the period 1993-1998. The results suggest that an expected pension particularly advances farm transfers. Farming couples are found to co-ordinate their early retirement according to spousal retirement under other pension schemes.
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Bibliographic InfoPaper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24696.
Date of creation: 2005
Date of revision:
duration; early retirement; farming couple; succession; Farm Management; Labor and Human Capital; J26; Q12; C41;
Find related papers by JEL classification:
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
- Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
- C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
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