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Articles 1 - 5 of 5
Full-Text Articles in Social and Behavioral Sciences
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 …
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 …
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 …
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. …
Retirement Effects On Health In Europe, Norma B. Coe, Gema Zamarro
Retirement Effects On Health In Europe, Norma B. Coe, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
What are the health impacts of retirement? As talk of raising retirement ages in pensions and social security schemes continues around the world, it is important to know both the costs and benefits or the individual as well as the governments' budgets. In this paper we use the Survey of Health, Aging and Retirement in Europe (SHARE) dataset to address this question in a multi-country setting. We use country-specific early and full retirement ages as an instrument for retirement behavior in a regression discontinuity design approach. These statutory retirement ages clearly induce retirement, but are not related to an individual's …