Retirement in a Family Context: A Structural Model for Husbands and Wives
AbstractA structural econometric model of retirement of married couples is specified and estimated with recent panel data from the NLS for Mature Women. A coincidence of spouses retiring together, despite the younger ages of wives, suggests explicit efforts at coordination. The estimates suggest that one reason is a coincidence of tastes for leisure. More importantly, each spouse, and perhaps husbands in particular, values retirement more once their spouse has retired. The opportunity set accounts for peaks in the retirement hazards of each spouse, but coordination in opportunities is not responsible for coordination of retirement dates.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 4629.
Date of creation: Jan 1994
Date of revision:
Publication status: published as Gustman, Alan L. and Thomas L. Steinmeier. "Retirement In Dual-Career Families: A Structural Model," Journal of Labor Economics, 2000, v18(3,Jul), 503-545.
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Find related papers by JEL classification:
- D1 - Microeconomics - - Household Behavior
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
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