Private Wealth and Planned Early Retirement: A Panel Data Analysis for the Netherlands, 1994-2009
AbstractWe study the causal relation between private wealth and retirement age. We propose two estimation strategies based on expected retirement age. The outcome variable is observed repeatedly over time. We correct first for the unobserved heterogeneity in the disutility of work by using panel data techniques. Next, we exploit information on expected wealth accumulation in order to identify the unexpected component in wealth accumulation. In line with the literature we find a small but significant effect of private wealth on planned early retirement.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5339.
Length: 32 pages
Date of creation: Nov 2010
Date of revision:
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Find related papers by JEL classification:
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
This paper has been announced in the following NEP Reports:
- NEP-AGE-2010-12-11 (Economics of Ageing)
- NEP-ALL-2010-12-11 (All new papers)
- NEP-LAB-2010-12-11 (Labour Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Grip Andries de & Lindeboom Maarten & Montizaan Raymond, 2009.
"Shattered Dreams: The Effects of Changing the Pension System Late in the Game,"
003, Maastricht : ROA, Research Centre for Education and the Labour Market.
- Andries De Grip & Maarten Lindeboom & Raymond Montizaan, 2012. "Shattered Dreams: The Effects of Changing the Pension System Late in the Game," Economic Journal, Royal Economic Society, vol. 122(559), pages 1-25, 03.
- de Grip, Andries & Lindeboom, Maarten & Montizaan, Raymond, 2009. "Shattered Dreams: The Effects of Changing the Pension System Late in the Game," IZA Discussion Papers 4034, Institute for the Study of Labor (IZA).
- Hugo Benítez-Silva & Debra S. Dwyer, 2005. "The Rationality of Retirement Expectations and the Role of New Information," The Review of Economics and Statistics, MIT Press, vol. 87(3), pages 587-592, August.
- Mark van Duijn & Maarten Lindeboom & Mauro Mastrogiacomo & M. Lundborg, 2009. "Pension plans and the retirement replacement rates in the Netherlands," CPB Discussion Paper 118, CPB Netherlands Bureau for Economic Policy Analysis.
- repec:pri:indrel:682 is not listed on IDEAS
- Grip Andries de & Lindeboom Maarten & Montizaan Raymond, 2009. "Dreams: The Effects of Changing the Pension System Late in the Game," Research Memoranda 043, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
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