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Does Retirement Induced Through Social Security Pension Eligibility Influence Subjective Well-Being? A Cross-Country Comparison, Arie Kapteyn, Jinkook Lee, Gema Zamarro
Does Retirement Induced Through Social Security Pension Eligibility Influence Subjective Well-Being? A Cross-Country Comparison, Arie Kapteyn, Jinkook Lee, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
How does retirement influence subjective well-being? Some studies suggest retirement does not affect subjective well-being or may improve it. Others suggest it adversely affects it. This paper aims at advancing our understanding of the effect of retirement on subjective well-being by (1) using longitudinal data to tease out the retirement effect from age and cohort differences; (2) using instrumental variables to address potential reverse causation of subjective well-being on retirement decisions; and (3) conducting cross-country analyses, exploiting differences in eligibility ages for retirement benefits across countries and within countries. We use panel data from the US Health and Retirement Study …
Dimensions Of Subjective Well-Being, Arie Kapteyn, Jinkook Lee, Caroline Tassot, Hanka Vonkova, Gema Zamarro
Dimensions Of Subjective Well-Being, Arie Kapteyn, Jinkook Lee, Caroline Tassot, Hanka Vonkova, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
Using the American Life Panel, we conduct an experiment to investigate the relations between various evaluative and experienced well-being measures based on the English Longitudinal Study of Aging, the Gallup Wellbeing Index, and a 12-item Hedonic Well-Being module. We find that all evaluative measures load on the same factor, but the positive and negative experienced affect measures load on different factors. We find evidence of an effect of response scales on both the estimated number of underlying factors and their relations with demographics. We conclude that finer scales allowing more nuanced answers offer more reliability.
Retirement Patterns Of Couples In Europe, Laura Hospido, Gema Zamarro
Retirement Patterns Of Couples In Europe, Laura Hospido, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
In this paper we study the retirement patterns of couples in a multi-country setting using data from the Survey of Health, Aging and Retirement in Europe. In particular we test whether women's (men's) transitions out of the labor force are directly related to the actual realization of their husbands' (wives') transition, using the institutional variation in country-specific early and full statutory retirement ages to instrument the latter. Exploiting the discontinuities in retirement behavior across countries, we find a significative joint retirement effect, especially for women, of around 16 to 18 percentage points. For men, we find a similar but less …