Retirement Patterns of Couples in Europe

27 Pages Posted: 1 Oct 2013

See all articles by Laura Hospido

Laura Hospido

Banco de España - Research Department

Gema Zamarro

University of Arkansas - Department of Education Reform; Center for Economic and Social Research (CESR)

Multiple version iconThere are 3 versions of this paper

Date Written: July 1, 2013

Abstract

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 precise effect. Our empirical strategy allows us to give a causal interpretation to the effect we estimate. In addition, this effect has important implications for policy analysis.

Keywords: joint retirement, social ecurity incentives

JEL Classification: J26, D10, C21

Suggested Citation

Hospido, Laura and Zamarro, Gema, Retirement Patterns of Couples in Europe (July 1, 2013). CESR Working Paper No. 2013-006, Available at SSRN: https://ssrn.com/abstract=2333923 or http://dx.doi.org/10.2139/ssrn.2333923

Laura Hospido

Banco de España - Research Department ( email )

Alcala 48
Madrid, 28014
Spain
+34 913385625 (Phone)
+34 913385678 (Fax)

HOME PAGE: http://www.laurahospido.com/

Gema Zamarro (Contact Author)

University of Arkansas - Department of Education Reform ( email )

201 Graduate Education Building
Fayetteville, AR 72701
United States

Center for Economic and Social Research (CESR) ( email )

635 Downey Way
Los Angeles, CA 90089-3332
United States

HOME PAGE: http://works.bepress.com/gema_zamarro/

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