Interdependent Durations in Joint Retirement
In this paper, we use a novel duration model to study joint retirement in married couples using the Health and Retirement Study. Whereas conventionally used models cannot account for joint retirement, our model admits joint retirement with positive probability and nests the traditional proportional hazards model. In contrast to other statistical models for simultaneous durations, it is based on Nash bargaining and is interpretable as an economic behavior model. Our estimation strategy relies on indirect inference.
|Date of creation:||Feb 2011|
|Date of revision:||Feb 2011|
|Publication status:||Published on the Center for Retirement Research website|
|Contact details of provider:|| Postal: Hovey House, 140 Commonwealth Avenue, Chestnut Hill, MA 02467|
Phone: (617) 552-1762
Fax: (617) 552-0191
Web page: http://crr.bc.edu/
More information through EDIRC
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.:
- Blau, David M, 1998. "Labor Force Dynamics of Older Married Couples," Journal of Labor Economics, University of Chicago Press, vol. 16(3), pages 595-629, July.
- Trivedi, Pravin K. & Zimmer, David M., 2007. "Copula Modeling: An Introduction for Practitioners," Foundations and Trends(R) in Econometrics, now publishers, vol. 1(1), pages 1-111, April.
- Manski, C.F., 1991.
"Identification of Endogenous Social Effects: the Reflection Problem,"
9127, Wisconsin Madison - Social Systems.
- Charles F. Manski, 1993. "Identification of Endogenous Social Effects: The Reflection Problem," Review of Economic Studies, Oxford University Press, vol. 60(3), pages 531-542.
- Magnac, Thierry & Robin, Jean-Marc & Visser, Michael, 1995.
"Analysing Incomplete Individual Employment Histories Using Indirect Inference,"
Journal of Applied Econometrics,
John Wiley & Sons, Ltd., vol. 10(S), pages S153-69, Suppl. De.
- Thierry Magnac & Jean-Marc Robin & Michael Visser, 1995. "Analysing incomplete individual employment histories using indirect inference," Post-Print hal-00359425, HAL.
- Chiappori, P.A., 1989.
"Collective Labour Supply and Welfare,"
DELTA Working Papers
89-07, DELTA (Ecole normale supérieure).
- Geert Ridder, 1990. "The Non-Parametric Identification of Generalized Accelerated Failure-Time Models," Review of Economic Studies, Oxford University Press, vol. 57(2), pages 167-181.
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
- Martin Browning & Pierre-André Chiappori & Valérie Lechene, 2006.
"Collective and Unitary Models: A Clarification,"
Review of Economics of the Household,
Springer, vol. 4(1), pages 5-14, 03.
- Valerie Lechene & Martin Browning, 2004. "Collective and unitary models: a clarification," Economics Series Working Papers 191, University of Oxford, Department of Economics.
- Martin Browning & Pierre-André Chiappori & Valérie Lechene, 2004. "Collective and Unitary Models: a Clarification," CAM Working Papers 2004-15, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
- Aureo de Paula, 2004.
"Inference in a Synchronization Game with Social Interactions,"
PIER Working Paper Archive
07-017, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 May 2007.
- de Paula, Áureo, 2009. "Inference in a synchronization game with social interactions," Journal of Econometrics, Elsevier, vol. 148(1), pages 56-71, January.
- Mark Y. An & Bent Jesper Christensen & Nabanita Datta Gupta, 2004. "Multivariate mixed proportional hazard modelling of the joint retirement of married couples," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(6), pages 687-704.
- Pierre-André Chiappori & Olivier Donni & Ivana Komunjer, 2012. "Learning from a Piece of Pie," Review of Economic Studies, Oxford University Press, vol. 79(1), pages 162-195.
- Courtney C. Coile, 2004. "Health Shocks and Couples' Labor Supply Decisions," NBER Working Papers 10810, National Bureau of Economic Research, Inc.
- M. Ruth & K. Donaghy & P. Kirshen, 2006. "Introduction," Chapters, in: Regional Climate Change and Variability, chapter 1 Edward Elgar Publishing.
- 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 503-545, July.
- Alan L. Gustman & Thomas Steinmeier, 2009. "Integrating Retirement Models," NBER Working Papers 15607, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:crr:crrwps:wp2011-5. 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: (Amy Grzybowski)or (Christopher F Baum)
If references are entirely missing, you can add them using this form.