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Valuing Jobs Via Retirement: European Evidence

Author

Listed:
  • Andrew E. Clark

    (PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, IZA - Institute for the Study of Labor - IZA)

  • Yarine Fawaz

    (PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

While much has been made of the value of employment relative to unemployment, much less is known about the value of work relative to retirement. Here we use two European panel datasets to show first that psychological well-being (measured on the EURO-D and GHQ scales) barely changes on average when individuals retire. However, there is a great deal of heterogeneity in the size of this change between job type and between individuals. Some gain on leaving work, while others experience substantial falls in well-being on retiring, suggesting that they may have preferred to carry on working. We suggest that the results of these analyses can help to inform policy aiming to encourage labour supply by older workers.

Suggested Citation

  • Andrew E. Clark & Yarine Fawaz, 2009. "Valuing Jobs Via Retirement: European Evidence," Post-Print halshs-00754350, HAL.
    • Handle: RePEc:hal:journl:halshs-00754350
    DOI: 10.1177/0027950109345236
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    Cited by:

    1. Andrew E. Clark, 2010. "Work and Well-Being," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(04), pages 17-21, January.
    2. Raquel Fonseca & Arie Kapteyn & Jinkook Lee & Gema Zamarro, 2015. "Does Retirement Make You Happy? A Simultaneous Equations Approach," NBER Chapters, in: Insights in the Economics of Aging, pages 339-372, National Bureau of Economic Research, Inc.
    3. Bonsang, Eric & Klein, Tobias J., 2012. "Retirement and subjective well-being," Journal of Economic Behavior & Organization, Elsevier, vol. 83(3), pages 311-329.
    4. Clemens Hetschko & Andreas Knabe & Ronnie Schöb, 2014. "Changing Identity: Retiring From Unemployment," Economic Journal, Royal Economic Society, vol. 124(575), pages 149-166, March.
    5. Bertoni, Marco & Brunello, Giorgio, 2014. "Pappa Ante Portas: The Retired Husband Syndrome in Japan," IZA Discussion Papers 8350, Institute of Labor Economics (IZA).
    6. Bertoni, Marco & Brunello, Giorgio & Mazzarella, Gianluca, 2018. "Does postponing minimum retirement age improve healthy behaviors before retirement? Evidence from middle-aged Italian workers," Journal of Health Economics, Elsevier, vol. 58(C), pages 215-227.
    7. Joachim Merz, 2022. "Are Retirees More Satisfied? Anticipation and Adaptation Effects: A Causal Panel Analysis of German Statutory Insured and Civil Service Pensioners," SOEPpapers on Multidisciplinary Panel Data Research 1163, DIW Berlin, The German Socio-Economic Panel (SOEP).
    8. Bender, Keith A. & Mavromaras, Kostas & Theodossiou, Ioannis & Wei, Zhang, 2014. "The Effect of Wealth and Earned Income on the Decision to Retire: A Dynamic Probit Examination of Retirement," IZA Discussion Papers 7927, Institute of Labor Economics (IZA).
    9. Andrew E. Clark, 2010. "Work and Well-Being," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(4), pages 17-21, 01.
    10. repec:ces:ifodic:v:8:y:2010:i:4:p:14994864 is not listed on IDEAS
    11. Doorley, Karina & Stancanelli, Elena G. F., 2019. "Marital Status and Retirement: An Empirical Study for France," IZA Discussion Papers 12299, Institute of Labor Economics (IZA).
    12. Kadir Atalay & Garry Barrett, 2022. "Retirement routes and the well-being of retirees," Empirical Economics, Springer, vol. 63(5), pages 2751-2784, November.

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