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Spousal Effect and Timing of Farmers' Early Retirement Decisions

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  • Vare, Minna
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    Abstract

    The 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 Info

    Paper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24696.

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    Date of creation: 2005
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    Handle: RePEc:ags:eaae05:24696

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    Keywords: duration; early retirement; farming couple; succession; Farm Management; Labor and Human Capital; J26; Q12; C41;

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    1. Asch, Beth & Haider, Steven J. & Zissimopoulos, Julie, 2005. "Financial incentives and retirement: evidence from federal civil service workers," Journal of Public Economics, Elsevier, vol. 89(2-3), pages 427-440, February.
    2. Blau, David M. & Riphahn, Regina T., 1999. "Labor force transitions of older married couples in Germany," Labour Economics, Elsevier, vol. 6(2), pages 229-252, June.
    3. Blau, David M., 1997. "Social security and the labor supply of older married couples," Labour Economics, Elsevier, vol. 4(4), pages 373-418, December.
    4. Christoph R. Weiss, 1999. "Farm Growth and Survival: Econometric Evidence for Individual Farms in Upper Austria," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(1), pages 103-116.
    5. Blau, David M, 1998. "Labor Force Dynamics of Older Married Couples," Journal of Labor Economics, University of Chicago Press, vol. 16(3), pages 595-629, July.
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    7. Kimhi, Ayal & Bollman, Ray, 1999. "Family farm dynamics in Canada and Israel: the case of farm exits," Agricultural Economics: The Journal of the International Association of Agricultural Economists, International Association of Agricultural Economists, vol. 21(1), August.
    8. Stephan J. Goetz & David L. Debertin, 2001. "Why Farmers Quit: A County-Level Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 1010-1023.
    9. Kiefer, Nicholas M, 1988. "Economic Duration Data and Hazard Functions," Journal of Economic Literature, American Economic Association, vol. 26(2), pages 646-79, June.
    10. Kerkhofs, Marcel & Lindeboom, Maarten & Theeuwes, Jules, 1998. "Retirement, financial incentives and health," Serie Research Memoranda 0042, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    11. Ayal Kimhi & Noga Nachlieli, 2001. "Intergenerational Succession on Israeli Family Farms," Journal of Agricultural Economics, Wiley Blackwell, vol. 52(2), pages 42-58.
    12. Gustman, Alan L & Steinmeier, Thomas L, 2000. "Retirement in Dual-Career Families: A Structural Model," Journal of Labor Economics, University of Chicago Press, vol. 18(3), pages 503-45, July.
    13. Hernaes, Erik & Sollie, Marte & Strom, Steinar, 2000. " Early Retirement and Economic Incentives," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(3), pages 481-502, June.
    14. Ruuskanen, Olli-Pekka, . "An Econometric Analysis of Time Use in Finnish Households," ETLA A, The Research Institute of the Finnish Economy, number 41.
    15. Ky–sti Pietola & Minna V”re & Alfons Oude Lansink, 2003. "Timing and type of exit from farming: farmers' early retirement programmes in Finland," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 30(1), pages 99-116, March.
    16. Ayal Kimhi & Ramon Lopez, 1999. "A Note on Farmers' Retirement and Succession Considerations: Evidence from a Household Survey," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(1), pages 154-162.
    17. Thomas Glauben & Hendrik Tietje & Christoph Weiss, 2004. "Intergenerational Succession in Farm Households: Evidence from Upper Austria," Review of Economics of the Household, Springer, vol. 2(4), pages 443-462, 08.
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