Private Wealth and Planned Early Retirement: A Panel Data Analysis for the Netherlands, 1994-2009

van Ooijen, Raun; Mastrogiacomo, Mauro; Euwals, Rob

doi:10.2139/ssrn.1716134

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Private Wealth and Planned Early Retirement: A Panel Data Analysis for the Netherlands, 1994-2009

IZA Discussion Paper No. 5339

32 Pages Posted: 29 Nov 2010

See all articles by Raun van Ooijen

Mauro Mastrogiacomo

De Nederlansdche Bank (DNB); Vrije Universiteit Amsterdam, School of Business and Economics

Rob Euwals

CPB Netherlands Bureau of Economic Policy Research; IZA Institute of Labor Economics; Centre for Economic Policy Research (CEPR)

There are 2 versions of this paper

Abstract

We study the causal relation between private wealth and retirement age. We propose two estimation strategies based on expected retirement age. The outcome variable is observed repeatedly over time. We correct first for the unobserved heterogeneity in the disutility of work by using panel data techniques. Next, we exploit information on expected wealth accumulation in order to identify the unexpected component in wealth accumulation. In line with the literature we find a small but significant effect of private wealth on planned early retirement.

Keywords: early retirement, private wealth, subjective retirement expectations

JEL Classification: C23, J26

Suggested Citation: Suggested Citation

van Ooijen, Raun and Mastrogiacomo, Mauro and Euwals, Rob, Private Wealth and Planned Early Retirement: A Panel Data Analysis for the Netherlands, 1994-2009. IZA Discussion Paper No. 5339, Available at SSRN: https://ssrn.com/abstract=1716134 or http://dx.doi.org/10.2139/ssrn.1716134