THE EFFECT OF INHERITANCE RECEIPT ON RETIREMENT
THE EFFECT OF INHERITANCE RECEIPT ON RETIREMENT
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DOI：
10.1162/rest.2010.11182
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发表时间：
2010-05-01
影响因子：
8
通讯作者：
Weisbenner, Scott J.
中科院分区：
文献类型：
--
作者：
Brown, Jeffrey R.;Coile, Courtney C.;Weisbenner, Scott J.
本文为财富冲击如何影响退休行为提供了新的证据。经济理论通常认为休闲是一种正常商品，但很难获得财富效应的可靠经验估计，因为财富与许多影响劳动力供给的不可观察特征相关。我们使用继承收入作为财富冲击，发现它与退休概率的显着增加有关，特别是当继承是意外的。这一证据对于公共政策（如养老金或税收改革）如何通过财富效应影响退休行为具有重要意义。
This paper provides new evidence on how wealth shocks influence retirement behavior. Economic theory generally posits that leisure is a normal good, yet it is difficult to obtain reliable empirical estimates of the wealth effect because wealth is correlated with numerous unobservable characteristics that affect labor supply. We use inheritance receipt as a wealth shock and find that it is associated with a significant increase in the probability of retirement, especially when the inheritance is unexpected. This evidence has important implications for how public policies, such as pension or tax reform, may influence retirement behavior through the wealth effect.