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A Bivariate Duration Model of the Joint Retirement Decisions of Married Couples

Author

Listed:
  • An, M.Y.
  • Christensen, B.J.
  • Gupta, N.D.
Abstract
We analyze the retirement behaviour of married couples using a new bi-variate proportional hazard model. This model generalizes the traditional univariate duration analysis to include a family-wide joint retirement process that induces both spouses to retire at the same time. The model is flexible and allows three unknown baseline hazard functions to be nonparametrically estimated. Fitting this model to data from the Retirement History Longitudinal Survey (RHS) we quantify the importance of the incidence of joint retirement and test the existence and the symmetry of the effects of one spouse's retirement propensity. Our main empirical findings reveal strong associations between the retirement probabilities of the spouses. The effects of wages are significant and assymetric by gender. The reported assymetry by gender in the effect of spouse's health status on own retirement hazard is likely spurious due to specification error.

Suggested Citation

  • An, M.Y. & Christensen, B.J. & Gupta, N.D., 1999. "A Bivariate Duration Model of the Joint Retirement Decisions of Married Couples," Papers 99-10, Centre for Labour Market and Social Research, Danmark-.
    • Handle: RePEc:fth:clmsre:99-10
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    Citations

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    Cited by:

    1. Thomas Barnay & François Legendre, 2012. "Simultaneous causality between health status and employment status within the population aged 30-59 in France," Working Papers halshs-00856217, HAL.
    2. Thomas Barnay, 2005. "Santé déclarée et cessation d'activité," Revue Française d'Économie, Programme National Persée, vol. 20(2), pages 73-106.
    3. Luca Spataro, 2002. "New Tools in Micromodeling Retirement Decisions: Overview and Applications to the Italian Case," CeRP Working Papers 28, Center for Research on Pensions and Welfare Policies, Turin (Italy).
    4. Béatrice Sédillot & Emmanuelle Walraet & Antoine Bommier, 2002. "La cessation d’activité au sein des couples : y-a-t-il interdépendance des choix ? Suivi d'un commentaire d’Antoine Bommier," Économie et Statistique, Programme National Persée, vol. 357(1), pages 79-102.
    5. Madelín Goméz-León & Pau Miret-Gamundi, 2014. "Working after age 50 in Spain. Is the trend towards early retirement reversing?," Vienna Yearbook of Population Research, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna, vol. 12(1), pages 115-140.
    6. repec:aia:aiaswp:wp44 is not listed on IDEAS
    7. Zhiyang Jia, 2005. "Spousal Influence on Early Retirement Behavior," Discussion Papers 406, Statistics Norway, Research Department.
    8. Zhiyang Jia, 2005. "Retirement Behavior of Working Couples in Norway. A Dynamic Programming Approach," Discussion Papers 405, Statistics Norway, Research Department.
    9. Hakola, Tuulia, 2002. "Alternative Approaches to Model Withdrawals from the Labour Market – A Literature Review," Working Paper Series 2003:4, Uppsala University, Department of Economics.

    More about this item

    Keywords

    HOUSEHOLD ; DECISION MAKING ; STATISTICAL ANALYSIS ; RETIREMENT;
    All these keywords.

    JEL classification:

    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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