Joint retirement in Europe

  • Aureo de Paula Aureo de Paula
  • Bo Honoré Bo Honoré

In this project we study joint retirement of couples in Europe. We characterize various empirical regularities and use a model for simultaneous duration variables developed in Honore and de Paula(2014). Whereas conventionally used duration models cannot account for joint retirement, our model admits joint retirement with positive probability, allows for simultaneity and nests the traditional proportional hazards model. In contrast to other statistical models for simultaneous durations, it is based on Nash bargaining and it is therefore interpretable in terms of economic behavior. We focus on the Survey on Health, Ageing and Retirement in Europe (SHARE) and theEnglish Longitudinal Survey of Ageing (ELSA).

Netspar, Network for Studies on Pensions, Aging and Retirement, is a thinktank and knowledge network. Netspar is dedicated to promoting a wider understanding of the economic and social implications of pensions, aging and retirement in the Netherlands and Europe.

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