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Retirement patterns of couples in Europe

Author Info

  • Laura Hospido

    (Banco de España and IZA)

  • Gema Zamarro

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

Abstract

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 Espa�a in its series Banco de Espa�a 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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Keywords: Joint retirement; Social security incentives;

Other versions of this item:

Find related papers by JEL classification:
  • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
  • D10 - Microeconomics - - Household Behavior - - - General
  • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models

This paper has been announced in the following NEP Reports:

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  1. Bo Honore & Aureo de Paula, 2013. "Interdependent durations in joint retirement," CeMMAP working papers CWP05/13, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
  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. Agar Brugiavini & Erich Battistin, & Enrico Rettore & Guglielmo Weber, 2007. "The Retirement Consumption Puzzle: Evidence from a Regression Discontinuity Approach," Working Papers 2007_27, Department of Economics, University of Venice "Ca' Foscari".
  4. Christopher J. Ruhm, 1994. "Do Pensions Increase the Labor Supply of Older Men?," NBER Working Papers 4925, National Bureau of Economic Research, Inc.
  5. Coe, Norma B. & Zamarro, Gema, 2011. "Retirement effects on health in Europe," Journal of Health Economics, Elsevier, vol. 30(1), pages 77-86, January.
  6. Michaud, P.C., 2003. "Joint Labour Supply Dynamics of Older Couples," Discussion Paper 2003-69, Tilburg University, Center for Economic Research.
  7. Wilbert van der Klaauw, 2008. "Regression-Discontinuity Analysis: A Survey of Recent Developments in Economics," LABOUR, CEIS, vol. 22(2), pages 219-245, 06.
  8. Alan L. Gustman & Thomas Steinmeier, 2009. "Integrating Retirement Models," NBER Working Papers 15607, National Bureau of Economic Research, Inc.
  9. 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.
  10. repec:hal:journl:halshs-00755648 is not listed on IDEAS
  11. Elena Stancanelli, 2012. "Spouses' Retirement and Hours of Work Outcomes: Evidence from Twofold Regression Discontinuity," Documents de travail du Centre d'Economie de la Sorbonne 12074, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  12. repec:dgr:kubcen:200369 is not listed on IDEAS
  13. David M, Blau & Donna B, Gilleskie, 2003. "Health Insurance and Retirement of Married Couples," Working Papers 2003-41, Centre de Recherche en Economie et Statistique.
  14. 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.
  15. Fevang, Elisabeth & Kverndokk, Snorre & Røed, Knut, 2008. "Informal Care and Labor Supply," IZA Discussion Papers 3717, Institute for the Study of Labor (IZA).
  16. Courtney C. Coile, 2004. "Health Shocks and Couples' Labor Supply Decisions," NBER Working Papers 10810, National Bureau of Economic Research, Inc.
  17. 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.
  18. Laura Crespo, 2006. "Caring For Parents And Employment Status Of European Mid-Life Women," Working Papers wp2006_0615, CEMFI.
  19. 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.
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Cited by:

  1. Marco Bertoni & Giorgio Brunello, 2014. "Pappa Ante Portas: The Retired Husband Syndrome in Japan," "Marco Fanno" Working Papers 0182, Dipartimento di Scienze Economiche "Marco Fanno".

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