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Do Single Women Value Early Retirement more than Single Men?

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Author Info
Anne Møller Danø (Institute of Local Government studies (AKF), Copenhagen)
Mette Ejrnæs (Institute of Economics, University of Copenhagen)
Leif Husted (Institute of Local Government studies (AKF), Copenhagen)
Abstract

The focus of this paper is to analyse why a large fraction of single elderly people choose to retire early. A structural model directly based on the individual decision of labour supply is estimated on a sample of singles, where singles are defined as those who are living alone. We find that income and health are important determinants of the retirement decision. Furthermore, we find substantial gender differences in the retirement pattern. Healthy single women value retirement more than healthy single men and are willing to reduce their disposable income to 74 per cent of their previous income while men are willing to reduce the income to 81 per cent. Men’s retirement decision is mainly influenced by income and health, whereas women’s retirement decision is also affected by education and unemployment experience.

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Paper provided by University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics in its series CAM Working Papers with number 2004-06.

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Length: 25 pages
Date of creation: Mar 2004
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Handle: RePEc:kud:kuieca:2004_06

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Related research
Keywords: retirement; gender differences; singles; panel data; option value;

Find related papers by JEL classification:
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped
J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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    Other versions:
  2. Lumsdaine, Robin L. & Mitchell, Olivia S., 1999. "New developments in the economic analysis of retirement," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 49, pages 3261-3307 Elsevier. [Downloadable!] (restricted)
    Other versions:
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