全球智库信息集成服务系统(G2TT): Economic Incentives to Retire: A Qualitative Choice Approach

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w1096
来源ID	Working Paper 1096
	Economic Incentives to Retire: A Qualitative Choice Approach
	Olivia S. Mitchell; Gary S. Fields
发表日期	1983-03-01
出版年	1983
语种	英语
摘要	This paper addresses two questions:(1) Are older persons' retirement ages significantly affected by the opportunities for income from earnings,private pensions, and Social Security and for leisure at alternative retirement ages?; and (2) How large are the estimated responses? Our approach to modeling the retirement problem is a forward-looking one, in which the explanatory variables include present discounted values of expected lifetime income from earnings, private pensions, and Social Security at all future retirement ages. Such data have been constructed using a unique archive on 390 workers covered by a large union pension plan. A previous paper (Fieldsand Mitchell, 1982) used these data to show that retirement ages are significantly associated with the present discounted value of income at age 60, and with the gain in income from deferring retirement. The current paper develops two different qualitative choice models of the retirement decision. We find: retirement ages do indeed respond significantly to future income and leisure opportunities; an ordered logit model is more suited to the data than is a multinomial logit model; and the estimated responses to changes in future income opportunities differ across model specifications, where the preferred ordered logit model exhibits larger estimated responses.
URL	https://www.nber.org/papers/w1096
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/558317
推荐引用方式 GB/T 7714	Olivia S. Mitchell,Gary S. Fields. Economic Incentives to Retire: A Qualitative Choice Approach. 1983.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w1096.pdf（182KB）	智库出版物		限制开放	CC BY-NC-SA	浏览