Spousal and survivor benefits in option value models of retirement: an application to Belgium
Alain Jousten and
Mathieu Lefebvre
Journal of Pension Economics and Finance, 2019, vol. 18, issue 1, 66-87
Abstract:
We study retirement incentives with an augmented reduced form option value model à la Stock and Wise (1990). We propose methodological extensions to better reflect the respective incentives faced by singles and couples. Our results show that a more comprehensive modeling of couples’ incentives leads to very different patterns of retirement incentives – particularly for women. We apply the new indicators to data from the Survey of Health, Ageing and retirement in Europe in Belgium and find two key results. First, contrary to several previous studies, we obtain a positive signed income effects. Second, we find very different retirement incentives for men and women, with little flexibility in the retirement decision for men and substantially more flexibility for women as a function of financial incentive and household composition.
Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (3)
Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)
Related works:
Working Paper: Spousal and survivor benefits in option value models of retirement: an application to Belgium (2019)
Working Paper: Spousal and Survivor Benefits in Option Value Models of Retirement: An Application to Belgium (2016) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:18:y:2019:i:01:p:66-87_00
Access Statistics for this article
More articles in Journal of Pension Economics and Finance from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().