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Determinants of early retirement in Denmark. An empirical investigation using SHARE data

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Abstract

This study aimed at determining the factors of early retirement in Denmark by making use of longitudinal panel data from the Survey of Health, Ageing and Retirement in Europe (SHARE). The outcome variable of interest was the self-assessed employment situation at the time of the interview. The binary outcome retired/not retired was regressed on covariate data from the preceding wave, thereby modeling potential factors contributing to a later decision to retire. There were 651 eligible observations, of which 160 (24.6%) participants took early retirement. The strongest factors encouraging early retirement were unemployment, inadequate support in difficult work situations, the use of drugs the week before the interview (for high cholesterol, high blood pressure and other medical conditions), and the existence of grandchildren, whereas greater reluctance to retire early was found in participants who had a chronic illness or disability, a feeling of sadness or depression during the month before the interview, at least one natural parent still alive, higher expectations of the government raising the retirement age, and better grip strength.

Suggested Citation

  • Gerke, Oke & Lauridsen, Jørgen T., 2013. "Determinants of early retirement in Denmark. An empirical investigation using SHARE data," Discussion Papers of Business and Economics 4/2013, University of Southern Denmark, Department of Business and Economics.
  • Handle: RePEc:hhs:sdueko:2013_004
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    References listed on IDEAS

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    1. Bingley, Paul & Lanot, Gauthier, 2004. "Employer pay policies, public transfers and the retirement decisions of men and women in Denmark," European Economic Review, Elsevier, vol. 48(1), pages 181-200, February.
    2. Bruce Hollingsworth & Anthony Scott & Bent Jesper Christensen & Malene Kallestrup‐Lamb, 2012. "The Impact Of Health Changes On Labor Supply: Evidence From Merged Data On Individual Objective Medical Diagnosis Codes And Early Retirement Behavior," Health Economics, John Wiley & Sons, Ltd., vol. 21, pages 56-100, June.
    3. Jonathan Gruber & David A. Wise, 1999. "Introduction to "Social Security and Retirement around the World"," NBER Chapters,in: Social Security and Retirement around the World, pages 1-35 National Bureau of Economic Research, Inc.
    4. Ebbinghaus, Bernhard, 2008. "Reforming Early Retirement in Europe, Japan and the USA," OUP Catalogue, Oxford University Press, number 9780199553396.
    5. Jonathan Gruber & David A. Wise, 1999. "Social Security and Retirement around the World," NBER Books, National Bureau of Economic Research, Inc, number grub99-1.
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    More about this item

    Keywords

    Denmark; early retirement; working conditions; health; social networks; pensions;

    JEL classification:

    • C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy

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