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Retirement in Non-Cooperative and Cooperative Families

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Author Info

  • Hærnes, Erik

    ()
    (The Ragnar Frisch Centre for Economic Research)

  • Jia, Zhiyang

    (Dept. of Economics, University of Oslo)

  • Strøm, Steinar

    ()
    (Dept. of Economics, University of Oslo)

Abstract

Models for non-cooperative as well as cooperative behavior of families are estimated on data from Norway from 1994 to 1998. The models aim at explaining labor supply behavior of married couples the first five months after the husband becomes eligible for early retirement, while the wife is not eligible. Estimates and predictions derived from the different models are compared. Econometric tests find that the Stackelberg model with the male as the leader is the best. Simulations with the estimated models show that taxing pension income the same way as labor income would reduce the propensity to retire early considerably.

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Bibliographic Info

Paper provided by Oslo University, Department of Economics in its series Memorandum with number 15/2006.

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Length: 38 pages
Date of creation: 11 Dec 2005
Date of revision:
Handle: RePEc:hhs:osloec:2006_015

Contact details of provider:
Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
Phone: 22 85 51 27
Fax: 22 85 50 35
Email:
Web page: http://www.oekonomi.uio.no/indexe.html
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Keywords: family labor supply; retirement; econometric models; policy simulations;

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References

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  1. Hiedemann, Bridget, 1998. "A Stackelberg model of Social Security acceptance decisions in dual career households," Journal of Economic Behavior & Organization, Elsevier, vol. 34(2), pages 263-278, February.
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  7. Kapteyn, A.J. & Kooreman, P., 1992. "Household labor supply: What kind of data can tell us how many decision makers there are?," Open Access publications from Tilburg University urn:nbn:nl:ui:12-364382, Tilburg University.
  8. Heckman, James J, 1978. "Dummy Endogenous Variables in a Simultaneous Equation System," Econometrica, Econometric Society, vol. 46(4), pages 931-59, July.
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  11. 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.
  12. Blau, David M., 1997. "Social security and the labor supply of older married couples," Labour Economics, Elsevier, vol. 4(4), pages 373-418, December.
  13. Kooreman, Peter, 1994. "Estimation of Econometric Models of Some Discrete Games," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 9(3), pages 255-68, July-Sept.
  14. McElroy, Marjorie B & Horney, Mary Jean, 1981. "Nash-Bargained Household Decisions: Toward a Generalization of the Theory of Demand," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 22(2), pages 333-49, June.
  15. 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.
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Citations

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Cited by:
  1. Jia, Zhiyang, 2003. "A Mixture Model of Household Retirement Choice," Memorandum 04/2003, Oslo University, Department of Economics.
  2. Zhiyang Jia, 2005. "Spousal Influence on Early Retirement Behavior," Discussion Papers 406, Research Department of Statistics Norway.
  3. Iskhakov, Fedor, 2008. "Dynamic Programming Model of Health and Retirement," Memorandum 03/2008, Oslo University, Department of Economics.
  4. Zhiyang Jia, 2005. "Labor Supply of Retiring Couples and Heterogeneity in Household Decision-Making Structure," Review of Economics of the Household, Springer, vol. 3(2), pages 215-233, 06.
  5. 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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