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Retirement Behvior 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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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. 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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  2. 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-.
  3. 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!]
  4. Erik Hernaes & Zhiyang Jia & Steinar Strom, 2001. "Retirement in Non-Cooperative and Cooperative Families," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
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  5. 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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  6. 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!]
  7. John Rust, 1987. "A Dynamic Programming Model of Retirement Behavior," NBER Working Papers 2470, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. Courtney Coile, 2003. "Retirement Incentives and Couples' Retirement Decisions," NBER Working Papers 9496, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  9. 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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  10. 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)
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  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!]
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