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Retirement patterns of couples in Europe

  • Laura Hospido

    (Banco de España and IZA)

  • Gema Zamarro

    (Dornsife Center for Economic and Social Research. University of Southern California)

In this paper we study the retirement patterns of couples in a multi-country setting using data from the Survey of Health, Aging and Retirement in Europe. In particular, we test whether women’s (men’s) transitions out of the labor force are causally related to the actual realization of their husbands’ (wives’) transition, using the institutional variation in country-specific early and full statutory retirement ages to instrument the latter. Exploiting the discontinuities in retirement behavior across countries, we find a significant joint retirement effect, especially for women, of around 16 to 18 percentage points. For men, we find a similar but less precise effect. Our empirical strategy allows us to give a causal interpretation to the effect we estimate. In addition, this effect has important implications for policy analysis.

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File URL: http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1317e.pdf
File Function: First version, November 2013
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Paper provided by Banco de España & Working Papers Homepage in its series Working Papers with number 1317.

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Length: 33 pages
Date of creation: Nov 2013
Date of revision:
Handle: RePEc:bde:wpaper:1317
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Web page: http://www.bde.es/bde/en/secciones/informes/Publicaciones_se/docs/
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  1. Michaud, P.C., 2003. "Joint Labour Supply Dynamics of Older Couples," Discussion Paper 2003-69, Tilburg University, Center for Economic Research.
  2. Guido Imbens & Thomas Lemieux, 2007. "Regression Discontinuity Designs: A Guide to Practice," NBER Technical Working Papers 0337, National Bureau of Economic Research, Inc.
  3. Wilbert van der Klaauw, 2008. "Regression-Discontinuity Analysis: A Survey of Recent Developments in Economics," LABOUR, CEIS, vol. 22(2), pages 219-245, 06.
  4. Norma B. Coe & Gema Zamarro, 2008. "Retirement Effects on Health in Europe," Working Papers 588, RAND Corporation.
  5. Stancanelli, Elena G. F., 2012. "Spouses' Retirement and Hours Outcomes: Evidence from Twofold Regression Discontinuity with Differences-in-Differences," IZA Discussion Papers 6791, Institute for the Study of Labor (IZA).
  6. Michael Hurd & Pierre-Carl Michaud & Susann Rohwedder, 2008. "Using International Micro Data to Learn about Individuals' Responses to Changes in Social Insurance," Working Papers 626, RAND Corporation.
  7. Fevang, Elisabeth & Kverndokk, Snorre & Røed, Knut, 2008. "Informal Care and Labor Supply," IZA Discussion Papers 3717, Institute for the Study of Labor (IZA).
  8. Michaud, P.C. & Vermeulen, F.M.P., 2004. "A Collective Retirement Model : Identification and Estimation in the Presence of Externalities," Discussion Paper 2004-75, Tilburg University, Center for Economic Research.
  9. 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.
  10. Erich Battistin & Agar Brugiavini & Enrico Rettore & Guglielmo Weber, 2008. "The retirement consumption puzzle: evidence from a regression discontinuity approach," IFS Working Papers W08/05, Institute for Fiscal Studies.
  11. Alan L. Gustman & Thomas Steinmeier, 2009. "Integrating Retirement Models," NBER Working Papers 15607, National Bureau of Economic Research, Inc.
  12. Elena Stancanelli, 2012. "Spouses' Retirement and Hours of Work Outcomes : Evidence from Twofold Regression Discontinuity," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00755648, HAL.
  13. Janet Currie & Brigitte C. Madrian, 1998. "Health, Health Insurance and the Labor Market," JCPR Working Papers 27, Northwestern University/University of Chicago Joint Center for Poverty Research.
  14. Bo Honoré & Áureo de Paula, 2011. "Interdependent Durations in Joint Retirement," Working Papers, Center for Retirement Research at Boston College wp2011-5, Center for Retirement Research, revised Feb 2011.
  15. Gustman, Alan L & Steinmeier, Thomas L, 2000. "Retirement in Dual-Career Families: A Structural Model," Journal of Labor Economics, University of Chicago Press, vol. 18(3), pages 503-45, July.
  16. Laura Crespo, 2006. "Caring For Parents And Employment Status Of European Mid-Life Women," Working Papers wp2006_0615, CEMFI.
  17. repec:hal:journl:halshs-00755648 is not listed on IDEAS
  18. William E. Even & David A. Macpherson, 1994. "Gender Differences in Pensions," Journal of Human Resources, University of Wisconsin Press, vol. 29(2), pages 555-587.
  19. Courtney C. Coile, 2004. "Health Shocks and Couples' Labor Supply Decisions," NBER Working Papers 10810, National Bureau of Economic Research, Inc.
  20. Christopher J. Ruhm, 1994. "Do Pensions Increase the Labor Supply of Older Men?," NBER Working Papers 4925, National Bureau of Economic Research, Inc.
  21. Hurd, Michael D, 1990. "Research on the Elderly: Economic Status, Retirement, and Consumption and Saving," Journal of Economic Literature, American Economic Association, vol. 28(2), pages 565-637, June.
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