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Does Retirement Make You Happy? A Simultaneous Equations Approach, Raquel Fonseca, Arie Kapteyn, Jinkook Lee, Gema Zamarro
Does Retirement Make You Happy? A Simultaneous Equations Approach, Raquel Fonseca, Arie Kapteyn, Jinkook Lee, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
Continued improvements in life expectancy and fiscal insolvency of public pensions have led to an increase in pension entitlement ages in several countries, but its consequences for subjective well-being are largely unknown. Financial consequences of retirement complicate the estimation of effects of retirement on subjective well-being as financial circumstances may influence subjective well-being, and therefore, the effects of retirement are likely to be confounded by the change in income. At the same time, unobservable determinants of income are probably related with unobservable determinants of subjective wellbeing, making income possibly endogenous if used as control in subjective wellbeing regressions. To address …
Family Labor Participation And Child Care Decisions: The Role Of Grannies, Gema Zamarro
Family Labor Participation And Child Care Decisions: The Role Of Grannies, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
One of the most significant long term trends in the labor market in most OECD countries has been the increase in the proportion of working mothers. However, not all countries show the same pattern. Countries in Southern Europe (Italy, Greece and Spain) show an average participation rate of about 45% whereas the participation rates in Northern countries (Denmark, Sweden) are around 75%. The characteristics of child care systems also differ significantly across OECD countries. This along with the characteristics of the labor market may have led families to get the necessary social services in an alternative way, i.e. through grandmothers. …