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Retirement Behavior of Working Couples in Norway. A Dynamic Programming Approach

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Author Info
Zhiyang Jia () (Statistics Norway)

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Abstract

This paper aims to provide an empirical analysis of the joint retire ment behavior of working couples in Norway. A dynamic programming model is speci.ed and estimated on micro data. The estimation results show that a model, which uses only measures of economic incentives: wages and pension benefits gives a satisfactory fit to the observed retirement pattern. The results also indicate that husbands have higher bargaining power within the household. A hypothetical policy simulation shows that by taxing pension bene.ts as wage income, the labor market participation of both husbands and wives will increase around 4 percentage points at age 65.

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Paper provided by Research Department of Statistics Norway in its series Discussion Papers with number 405.

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Date of creation: Feb 2005
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Handle: RePEc:ssb:dispap:405

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Related research
Keywords: Household Retirement; Dynamic Programming;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
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.:
  1. An, M.Y. & Christensen, B.J. & Gupta, N.D., 1999. "A Bivariate Duration Model of the Joint Retirement Decisions of Married Couples," Papers 99-10, Centre for Labour Market and Social Research, Danmark-.
  2. Courtney Coile, 2003. "Retirement Incentives And Couples' Retirement Decisions," Working Papers, Center for Retirement Research at Boston College 2003-04, Center for Retirement Research. [Downloadable!]
  3. Erik Hernaes & Zhiyang Jia & Steinar Strom, 2001. "Retirement in Non-Cooperative and Cooperative Families," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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  4. Jiménez-Martín, Sergi & Labeaga, José M. & Martínez Granado, Maite, 1999. "Health status and retirement decisions for older European couples," IRISS Working Paper Series 1999-01, IRISS at CEPS/INSTEAD. [Downloadable!]
  5. Donna B. Gilleskie & David M. Blau, 2006. "Health insurance and retirement of married couples," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 21(7), pages 935-953. [Downloadable!]
  6. Courtney Coile, 2003. "Retirement Incentives and Couples' Retirement Decisions," NBER Working Papers 9496, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. Blau, David M. & Riphahn, Regina T., 1998. "Labor Force Transitions of Older Married Couples in Germany," IZA Discussion Papers 05, Institute for the Study of Labor (IZA). [Downloadable!]
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  8. John Rust & Christopher Phelan, 1997. "How Social Security and Medicare Affect Retirement Behavior in a World of Incomplete Markets," Econometrica, Econometric Society, vol. 65(4), pages 781-832, July.
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  9. M. Browning & P. A. Chiappori, 1998. "Efficient Intra-Household Allocations: A General Characterization and Empirical Tests," Econometrica, Econometric Society, vol. 66(6), pages 1241-1278, November.
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  10. John Rust, 1987. "A Dynamic Programming Model of Retirement Behavior," NBER Working Papers 2470, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  11. Blau, David M., 1997. "Social security and the labor supply of older married couples," Labour Economics, Elsevier, vol. 4(4), pages 373-418, December. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, 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.)

  1. Zhiyang Jia, 2005. "Labor Supply of Retiring Couples and Heterogeneity in Household Decision-Making Structure," Discussion Papers 404, Research Department of Statistics Norway. [Downloadable!]
    Other versions:
  2. Iskhakov, Fedor, 2008. "Dynamic Programming Model of Health and Retirement," Memorandum 03/2008, Oslo University, Department of Economics. [Downloadable!]
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