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Do Single Women Value Early Retirement more than Single Men?

Anne Møller Danø, Mette Ejrnæs and Leif Husted
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Anne Møller Danø: Institute of Local Government studies (AKF), Copenhagen
Leif Husted: Institute of Local Government studies (AKF), Copenhagen

Authors registered in the RePEc Author Service: Leif Jensen

No 2004-06, CAM Working Papers from University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics

Abstract: The focus of this paper is to analyse why a large fraction of single elderly people choose to retire early. A structural model directly based on the individual decision of labour supply is estimated on a sample of singles, where singles are defined as those who are living alone. We find that income and health are important determinants of the retirement decision. Furthermore, we find substantial gender differences in the retirement pattern. Healthy single women value retirement more than healthy single men and are willing to reduce their disposable income to 74 per cent of their previous income while men are willing to reduce the income to 81 per cent. Men’s retirement decision is mainly influenced by income and health, whereas women’s retirement decision is also affected by education and unemployment experience.

Keywords: retirement; gender differences; singles; panel data; option value (search for similar items in EconPapers)
JEL-codes: C23 J14 J16 J26 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2004-03
New Economics Papers: this item is included in nep-lab
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