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A Bivariate Duration Model of the Joint Retirement Decisions of Married Couples

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Author Info

  • An, M.Y.
  • Christensen, B.J.
  • Gupta, N.D.

Abstract

We analyze the retirement behaviour of married couples using a new bi-variate proportional hazard model. This model generalizes the traditional univariate duration analysis to include a family-wide joint retirement process that induces both spouses to retire at the same time. The model is flexible and allows three unknown baseline hazard functions to be nonparametrically estimated. Fitting this model to data from the Retirement History Longitudinal Survey (RHS) we quantify the importance of the incidence of joint retirement and test the existence and the symmetry of the effects of one spouse's retirement propensity. Our main empirical findings reveal strong associations between the retirement probabilities of the spouses. The effects of wages are significant and assymetric by gender. The reported assymetry by gender in the effect of spouse's health status on own retirement hazard is likely spurious due to specification error.

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Bibliographic Info

Paper provided by Centre for Labour Market and Social Research, Danmark- in its series Papers with number 99-10.

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Length: 22 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:fth:clmsre:99-10

Contact details of provider:
Postal: Danmark; Centre for Labour Market and Social Research. Science Park Aarhus Wieds Vej 10C, 8000 Aarhus C, Danmark
Phone: +45 8942 2350
Fax: +45 8942 2365
Email:
Web page: http://www.cls.dk/
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Related research

Keywords: HOUSEHOLD ; DECISION MAKING ; STATISTICAL ANALYSIS ; RETIREMENT;

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Cited by:
  1. Zhiyang Jia, 2005. "Spousal Influence on Early Retirement Behavior," Discussion Papers 406, Research Department of Statistics Norway.
  2. Trudie Schils, 2006. "WP 44 - Early retirement patterns in Germany, the Netherlands and the United Kingdom," AIAS Working Papers wp44, AIAS, Amsterdam Institute for Advanced Labour Studies.
  3. Luca Spataro, 2002. "New Tools in Micromodeling Retirement Decisions: Overview and Applications to the Italian Case," CeRP Working Papers 28, Center for Research on Pensions and Welfare Policies, Turin (Italy).
  4. Thomas Barnay & François Legendre, 2012. "Simultaneous causality between health status and employment status within the population aged 30-59 in France," Working Papers hal-00717439, HAL.
  5. Hakola, Tuulia, 2002. "Alternative Approaches to Model Withdrawals from the Labour Market – A Literature Review," Working Paper Series 2003:4, Uppsala University, Department of Economics.
  6. Béatrice Sédillot & Antoine Bommier & Emmanuelle Walraet, 2002. "La cessation d’activité au sein des couples : y-a-t-il interdépendance des choix ? Suivi d'un commentaire d’Antoine Bommier," Économie et Statistique, Programme National Persée, vol. 357(1), pages 79-102.
  7. B. Sédillot & E. Walraet, 2002. "The retirement decision of couples: are the choices interdependant?," Documents de Travail de la DESE - Working Papers of the DESE g2002-03, Institut National de la Statistique et des Etudes Economiques, DESE.
  8. Zhiyang Jia, 2005. "Retirement Behavior of Working Couples in Norway. A Dynamic Programming Approach," Discussion Papers 405, Research Department of Statistics Norway.

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