NON-PECUNIARY ASPECTS OF THE RETIREMENT DECISION

拟议的研究将调查非金钱因素如何 可能影响退休决定。重点领域将是 承担责任和态度。现有文献记录了 财务激励对退休决定的影响（例如，养老金， 社会保障）;拟议研究的一个目标是促进 （相对较新的）文献，包括“非经济”因素。的 拟议的研究将延长退休，退休，和意图 内生决策的文献。提议的另一个方面 研究将把预期和不确定性纳入退休模型。 通过改进数据来源和新的计量经济学方法， 技术.本研究将从以下几个方面进行：1）考虑差异 在人口和性别方面的态度和承担责任 2）检查主观概率评估之间的关系 和实际结果，注意到个人的“总体”态度将 影响这些评估，3）调查护理之间的内生性 和退休决定，4）修改动态的“基本情况”行为模型， 退休纳入这些非金钱的影响，5）模拟 公共和公司政策变化对退休决定的影响。 分析中使用的主要数据集是HRA（HRS/AHEAD）调查。 HRA是分析的自然选择，因为它的大样本， 退休年龄的人。它还包含了丰富的金融收藏， 个人层面的信息， 控制财务影响的非金钱激励措施 在以前的研究中，这是非常重要的。该数据集还包含一个 一组主观概率问题，可用于预测结果 在随后的调查中。

The proposed research will investigate how non-pecuniary factors potentially influence the retirement decision. The key areas of focus will be caregiving responsibilities and attitudes. Existing literature documents the effects of financial incentives on the retirement decision (e.g., pensions, Social Security); one goal of the proposed research is to contribute to the (relatively new) literature that incorporates "non-economic" factors. The proposed research will extend the retirement, caregiving, and intentions literatures of endogenous decision making. Another facet of the proposed research will incorporate expectations and uncertainty into retirement models. These goals are made feasible by improved data sources and new econometric techniques. The research will proceed as follows: 1) consider the differences in attitudes and caregiving responsibilities across demographic and gender groups, 2) examine the relationship between subjective probability assessments and actual outcomes, noting that the "overall" attitude of the individual will affect these assessments, 3) investigate the endogeneity between the caregiving and retirement decisions, 4) modify a dynamic "base case" behavioral model of retirement to incorporate these non-pecuniary influences, 5) simulate the effects on the retirement decision of changes in public and corporate policy. The principal dataset to be used in the analysis is the HRA (HRS/AHEAD) survey. The HRA is a natural choice for the analysis because of its large sample of retirement-age individuals. It also contains a rich collection of financial information at the individual level, enabling models of the effects of non-pecuniary incentives to control for the financial effects which have been shown in previous studies to be quite important. The dataset also contains a set of subjective probability questions which can be used to predict outcomes in subsequent waves of the surveys.