Interdependent Durations in Joint Retirement
AbstractIn this paper, we use a novel duration model to study joint retirement in married couples using the Health and Retirement Study. Whereas conventionally used models cannot account for joint retirement, our model admits joint retirement with positive probability and nests the traditional proportional hazards model. In contrast to other statistical models for simultaneous durations, it is based on Nash bargaining and is interpretable as an economic behavior model. Our estimation strategy relies on indirect inference.
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Bibliographic InfoPaper provided by Center for Retirement Research in its series Working Papers, Center for Retirement Research at Boston College with number wp2011-5.
Length: 29 pages
Date of creation: Feb 2011
Date of revision: Feb 2011
Publication status: Published on the Center for Retirement Research website
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Other versions of this item:
- Bo Honore & Aureo de Paula, 2013. "Interdependent durations in joint retirement," CeMMAP working papers, Centre for Microdata Methods and Practice, Institute for Fiscal Studies CWP05/13, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Bo Honore & Aureo de Paula, 2014. "Interdependent durations in joint retirement," CeMMAP working papers, Centre for Microdata Methods and Practice, Institute for Fiscal Studies CWP08/14, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
- C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
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