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Identifying Local Differences in Retirement Patterns

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  • Leora Friedberg
  • Michael Owyang
  • Anthony Webb

Abstract

The ability to retire at an age and in a manner of one’s choosing depends on one’s ability to retain or find employment at older ages, which depends in turn on local labor market conditions. We investigate how local labor markets affect retirement transitions. We match households from the Health and Retirement Study to MSA unemployment rates and estimate multinomial logit regressions on annual job transitions.

Suggested Citation

  • Leora Friedberg & Michael Owyang & Anthony Webb, 2008. "Identifying Local Differences in Retirement Patterns," Working Papers, Center for Retirement Research at Boston College wp2008-18, Center for Retirement Research, revised Dec 2008.
  • Handle: RePEc:crr:crrwps:wp2008-18
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    File URL: http://crr.bc.edu/working-papers/identifying-local-differences-in-retirement-patterns/
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    References listed on IDEAS

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    1. Eric French, 2005. "The Effects of Health, Wealth, and Wages on Labour Supply and Retirement Behaviour," Review of Economic Studies, Oxford University Press, vol. 72(2), pages 395-427.
    2. Sewin Chan & Ann Huff Stevens, 2008. "What You Don't Know Can't Help You: Pension Knowledge and Retirement Decision-Making," The Review of Economics and Statistics, MIT Press, vol. 90(2), pages 253-266, May.
    3. Chan Sewin & Stevens Ann H, 2004. "How Does Job Loss Affect the Timing of Retirement?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 3(1), pages 1-26, May.
    4. Alicia H. Munnell & Mauricio Soto & Robert K. Triest & Natalia A. Zhivan, 2008. "How Much Do State Economics and Other Characteristics Affect Retirement Behavior?," Working Papers, Center for Retirement Research at Boston College wp2008-12, Center for Retirement Research, revised Sep 2008.
    5. Dan A. Black & Xiaoli Liang, 2005. "Local Labor Market Conditions and Retirement Behavior," Working Papers, Center for Retirement Research at Boston College wp2005-8, Center for Retirement Research, revised May 2005.
    6. Ruhm, Christopher J, 1990. "Bridge Jobs and Partial Retirement," Journal of Labor Economics, University of Chicago Press, vol. 8(4), pages 482-501, October.
    7. Owyang, Michael T. & Piger, Jeremy M. & Wall, Howard J. & Wheeler, Christopher H., 2008. "The economic performance of cities: A Markov-switching approach," Journal of Urban Economics, Elsevier, vol. 64(3), pages 538-550, November.
    8. Michael T. Owyang & Jeremy Piger & Howard J. Wall, 2005. "Business Cycle Phases in U.S. States," The Review of Economics and Statistics, MIT Press, vol. 87(4), pages 604-616, November.
    9. Haardt, David, 2006. "Transitions out of and back to employment among older men and women in the UK," ISER Working Paper Series 2006-20, Institute for Social and Economic Research.
    10. Alan L. Gustman & Thomas L. Steinmeier, 1999. "What People Don't Know About Their Pensions and Social Security: An Analysis Using Linked Data from the Health and Retirement Study," NBER Working Papers 7368, National Bureau of Economic Research, Inc.
    11. Leora Friedberg & Anthony Webb, 2005. "Retirement and the Evolution of Pension Structure," Journal of Human Resources, University of Wisconsin Press, vol. 40(2).
    12. Chan, Sewin & Stevens, Ann Huff, 2001. "Job Loss and Employment Patterns of Older Workers," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 484-521, April.
    13. Robert Hutchens, 2007. "Phased Retirement: Problems and Prospects," Work Opportunity Briefs wob_8, Center for Retirement Research, revised Feb 2007.
    14. Topel, Robert H, 1986. "Local Labor Markets," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 111-143, June.
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    Cited by:

    1. Alicia H. Munnell & Mauricio Soto & Robert K. Triest & Natalia A. Zhivan, 2008. "How Much Do State Economics and Other Characteristics Affect Retirement Behavior?," Working Papers, Center for Retirement Research at Boston College wp2008-12, Center for Retirement Research, revised Sep 2008.
    2. Owen Haaga & Richard W. Johnson, 2012. "Social Security Claiming: Trends and Business Cycle Effects," Discussion papers 12-01, Urban Institute, Program on Retirement Policy.

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