A collective retirement model
Subtitle: identification and estimation in the presence of externalities
By: by Pierre-Carl Michaud, Frederic Vermeulen.
Contributors: Vermeulen, Frederic.
Series: Discussion paper ;; no. 1294; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) ;; no. 1294
Publisher: IZA
Published: 2004
Place of publication: Bonn, Germany
Language: eng
Format: Electronic resource
Description: "We study the labor supply dynamics of elderly couples by means of a structural collective model. The model allows for general externalities with respect to spouses' leisure. Preferences and the intrahousehold bargaining process are identified by using panel data with couples and individuals who turned into widow(er)hood in the covered period. The model does not only look at the extensive margin (working versus being retired), but also at the intensive margin (how many hours are worked) and the claiming decision for social security benefits. We apply the model to American households coming from the first five waves of the Health and Retirement Study. We also provide model simulations for two widely discussed reform proposals; more specifically the abolition of the earnings test and the elimination of the spouse benefit. The model simulations reveal only small changes in labor supply of elderly couples"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 5/3/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.