Retirement Patterns of Couples in Europe

22 Pages Posted: 15 Feb 2014

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)

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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 for women of 21 percentage points. For men, the estimated effect is insignificant. 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 security incentives

JEL Classification: J26, D10, C21

Suggested Citation

Hospido, Laura and Zamarro, Gema, Retirement Patterns of Couples in Europe. IZA Discussion Paper No. 7926, Available at SSRN: https://ssrn.com/abstract=2396381

Laura Hospido (Contact Author)

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

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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