Labour market transitions and retirement of men in the UK
We study transitions in and out of work for men over the age of forty in order to investigate the principal determinants of retirement age. We apply non-parametric techniques to describe the exit to retirement. We then estimate a multiple spell model of transitions in and out of work allowing for correlated heterogeneity across different types of spells. We also present an LM test of unobserved heterogeneity for multiple spell models. Finally, we assess the importance of economic variables in determinining transitions and we find that increased earnings in work delay job exit while increased social security benefits delay the return to work. In conjunction, the two effects imply that economic incentives may be important determinants of the retirement age.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
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.:
- Adrian Pagan, 1985.
"Two Stage and Related Estimators and Their Applications,"
Cowles Foundation Discussion Papers
741, Cowles Foundation for Research in Economics, Yale University.
- Adrian Pagan, 1986. "Two Stage and Related Estimators and Their Applications," Review of Economic Studies, Oxford University Press, vol. 53(4), pages 517-538.
- James H. Stock & David A. Wise, 1988.
"Pensions, The Option Value of Work, and Retirement,"
NBER Working Papers
2686, National Bureau of Economic Research, Inc.
- Stock, James H & Wise, David A, 1990. "Pensions, the Option Value of Work, and Retirement," Econometrica, Econometric Society, vol. 58(5), pages 1151-1180, September.
- Blau, David M, 1994. "Labor Force Dynamics of Older Men," Econometrica, Econometric Society, vol. 62(1), pages 117-156, January.
- Bruce D. Meyer, 1988.
"Unemployment Insurance And Unemployment Spells,"
NBER Working Papers
2546, National Bureau of Economic Research, Inc.
- John C. Ham & Robert J. LaLonde, 1991. "Estimating the Effect of Training on Employment and Unemployment Durations: Evidence From Experimental Data," NBER Working Papers 3912, National Bureau of Economic Research, Inc.
- A. Zabalza & C. Pissarides & M. Barton, 1980.
"Social security and the choice between full-time work, part-time work and retirement,"
in: Econometric Studies in Public Finance, pages 245-276
National Bureau of Economic Research, Inc.
- Zabalza, A. & Pissarides, C. & Barton, M., 1980. "Social security and the choice between full-time work, part-time work and retirement," Journal of Public Economics, Elsevier, vol. 14(2), pages 245-276, October.
- Creedy, John & Disney, Richard & Whitehouse, Edward, 1993. "The Earnings-Related State Pension, Indexation and Lifetime Redistribution in the U.K," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 39(3), pages 257-278, September.
- Mealli, Fabrizia & Pudney, Stephen, 1996. "Occupational Pensions and Job Mobility in Britain: Estimation of a Random-Effects Competing Risks Model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(3), pages 293-320, May-June.
- Edward Whitehouse, 1990. "The abolition of the pensions 'earnings rule'," Fiscal Studies, Institute for Fiscal Studies, vol. 11(3), pages 55-70, August.
- Gourieroux, Christian & Holly, Alberto & Monfort, Alain, 1982. "Likelihood Ratio Test, Wald Test, and Kuhn-Tucker Test in Linear Models with Inequality Constraints on the Regression Parameters," Econometrica, Econometric Society, vol. 50(1), pages 63-80, January.
When requesting a correction, please mention this item's handle: RePEc:eee:econom:v:79:y:1997:i:2:p:327-354. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.