Private Wealth and Planned Early Retirement: A Panel Data Analysis for the Netherlands, 1994-2009

Raun van Ooijen, Mauro Mastrogiacomo () and Rob Euwals ()
Additional contact information
Raun van Ooijen: De Nederlandsche Bank
Mauro Mastrogiacomo: De Nederlandsche Bank
Rob Euwals: CPB Netherlands Bureau for Economic Policy Analysis

No 5339, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: We study the causal relation between private wealth and retirement age. We propose two estimation strategies based on expected retirement age. The outcome variable is observed repeatedly over time. We correct first for the unobserved heterogeneity in the disutility of work by using panel data techniques. Next, we exploit information on expected wealth accumulation in order to identify the unexpected component in wealth accumulation. In line with the literature we find a small but significant effect of private wealth on planned early retirement.

Keywords: private wealth; subjective retirement expectations; early retirement (search for similar items in EconPapers)
JEL-codes: C23 J26 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2010-11
New Economics Papers: this item is included in nep-age and nep-lab
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Citations: View citations in EconPapers (8)

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