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Couples’ Retirement under Individual Pension Design: a Regression Discontinuity Study for France

Author

Listed:
  • Elena Stancanelli

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

Abstract

Retirement policies are individually designed, but the majority of older workers are partnered, and are likely to coordinate their employment decisions with their spouse. The goal of this study is to estimate the direct and indirect (via the spouse) effects of a pioneer French pension reform on both spouses' retirement decision. The extent of the reform varies by birth year, which enables us to identify its retirement effects on both spouses, since the husband is, on average, two years older than the wife. We use labor-force survey data to implement a sharp regression-discontinuity framework, in which the running variable is the distance of the individual birth month to a certain reference month, as well as an incremental differences-in-differences approach. We find a significant drop in each spouse's probability of retirement. The husband's retirement probability also drops immediately by 2 percentage points if the wife is affected by the reform, while her retirement probability does not respond immediately if he is affected.

Suggested Citation

  • Elena Stancanelli, 2017. "Couples’ Retirement under Individual Pension Design: a Regression Discontinuity Study for France," PSE-Ecole d'économie de Paris (Postprint) hal-01630922, HAL.
    • Handle: RePEc:hal:pseptp:hal-01630922
    DOI: 10.1016/j.labeco.2017.08.009
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    Citations

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    Cited by:

    1. Hippolyte d'Albis & Karina Doorley & Elena Stancanelli, 2021. "Older mothers' employment and marriage stability when the nest is empty," PSE Working Papers halshs-03203063, HAL.
    2. García-Miralles, Esteban & Leganza, Jonathan M., 2024. "Joint retirement of couples: Evidence from discontinuities in Denmark," Journal of Public Economics, Elsevier, vol. 230(C).
    3. Moghadam, Hamed Markazi & Puhani, Patrick & Tyrowicz, Joanna, 2023. "Pension Reforms and Couples' Labour Supply Decisions," Economics Working Paper Series 2304, University of St. Gallen, School of Economics and Political Science.
    4. Idriss Fontaine, 2019. "The interaction between labour force participation of older men and their wife: lessons from France," TEPP Working Paper 2019-01, TEPP.
    5. Etgeton, Stefan & Fischer, Björn & Ye, Han, 2023. "The effect of increasing retirement age on households’ savings and consumption expenditure," Journal of Public Economics, Elsevier, vol. 221(C).
    6. Julian Vedeler Johnsen & Kjell Vaage & Alexander Willén, 2022. "Interactions in Public Policies: Spousal Responses and Program Spillovers of Welfare Reforms," The Economic Journal, Royal Economic Society, vol. 132(642), pages 834-864.
    7. Kadir Atalay & Garry F. Barrett & Peter Siminski, 2019. "Pension incentives and the joint retirement of couples: evidence from two natural experiments," Journal of Population Economics, Springer;European Society for Population Economics, vol. 32(3), pages 735-767, July.
    8. Comi Simona Lorena & Cottini Elena & Lucifora Claudio, 2022. "The effect of retirement on social relationships," German Economic Review, De Gruyter, vol. 23(2), pages 275-299, May.
    9. Hersche Markus & Moor Elias, 2020. "Identification and Estimation of Intensive Margin Effects by Difference-in-Difference Methods," Journal of Causal Inference, De Gruyter, vol. 8(1), pages 272-285, January.
    10. Nagore García, Amparo & van Soest, Arthur, 2022. "Joint retirement behaviour and pension reform in the Netherlands," The Journal of the Economics of Ageing, Elsevier, vol. 23(C).
    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. Juan Carlos Campaña & Jose Ignacio Gimenez-Nadal & Jorge Velilla, 2023. "Measuring Gender Gaps in Time Allocation in Europe," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 165(2), pages 519-553, January.

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