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Macroeconomic Effects of Sectoral Shocks in Germany, the U.K. and, the U.S

  • Erik Hernæs

    ()

  • Zhiyang Jia

    ()

  • Steinar Strøm

    ()

Models for non-cooperative as well as cooperative behavior of families are estimated on data from Norway from 1994 to 1998. The models aim at explaining labor supply behavior of married couples the first five months after the husband becomes eligible for early retirement, while the wife is not eligible. Estimates and predictions derived from the different models are compared. Econometric tests find that the Stackelberg model with the male as the leader is the best. Simulations with the estimated models show that taxing pension income the same way as labor income would reduce the propensity to retire early considerably.

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File URL: http://www.child-centre.unito.it/papers/child04_2003.pdf
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Paper provided by CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY in its series CHILD Working Papers with number wp04_03.

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Length: 34 pages
Date of creation: Aug 2003
Date of revision:
Handle: RePEc:wpc:wplist:wp04_03
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  1. Hiedemann, Bridget, 1998. "A Stackelberg model of Social Security acceptance decisions in dual career households," Journal of Economic Behavior & Organization, Elsevier, vol. 34(2), pages 263-278, February.
  2. Michael Baker, 1999. "The Retirement Behavior of Married Couples: Evidence From the Spouse's Allowance," Working Papers baker-99-01, University of Toronto, Department of Economics.
  3. Zweimuller, Josef & Winter-Ebmer, Rudolf & Falkinger, Josef, 1996. "Retirement of spouses and social security reform," European Economic Review, Elsevier, vol. 40(2), pages 449-472, February.
  4. James J. Heckman, 1977. "Dummy Endogenous Variables in a Simultaneous Equation System," NBER Working Papers 0177, National Bureau of Economic Research, Inc.
  5. Bresnahan, Timothy F. & Reiss, Peter C., 1991. "Empirical models of discrete games," Journal of Econometrics, Elsevier, vol. 48(1-2), pages 57-81.
  6. 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 503-45, July.
  7. Bourguignon, F. & Chiappori, P-A., 1991. "Collective Models of Household Behaviour: An Introduction," DELTA Working Papers 91-29, DELTA (Ecole normale supérieure).
  8. Hernaes,E., 1999. "Early retirement and economic incentives," Memorandum 17/1999, Oslo University, Department of Economics.
  9. Kooreman, Peter, 1994. "Estimation of Econometric Models of Some Discrete Games," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 9(3), pages 255-68, July-Sept.
  10. Blau, David M., 1997. "Social security and the labor supply of older married couples," Labour Economics, Elsevier, vol. 4(4), pages 373-418, December.
  11. Chiappori, Pierre-Andre, 1988. "Nash-Bargained Households Decisions: A Comment," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 29(4), pages 791-96, November.
  12. repec:ner:tilbur:urn:nbn:nl:ui:12-377584 is not listed on IDEAS
  13. Kapteyn, Arie & Kooreman, Peter, 1992. "Household labor supply: What kind of data can tell us how many decision makers there are?," European Economic Review, Elsevier, vol. 36(2-3), pages 365-371, April.
  14. McElroy, Marjorie B & Horney, Mary Jean, 1981. "Nash-Bargained Household Decisions: Toward a Generalization of the Theory of Demand," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 22(2), pages 333-49, June.
  15. repec:ner:tilbur:urn:nbn:nl:ui:12-364382 is not listed on IDEAS
  16. Chiappori, Pierre-Andre, 1991. "Nash-Bargained Household Decisions: A Rejoinder," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 32(3), pages 761-62, August.
  17. Vuong, Quang H, 1989. "Likelihood Ratio Tests for Model Selection and Non-nested Hypotheses," Econometrica, Econometric Society, vol. 57(2), pages 307-33, March.
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