UNDERSTANDING JOINT RETIREMENT DECISIONS IN COUPLES

拟议研究的主要目标是了解健康状况，社会保障和残疾计划，雇主养老金激励措施，配偶护理给予，以及对夫妻个人退休决定的共同休闲偏好的单独影响。英国老龄化纵向研究（艾尔莎）和健康与退休研究（HRS）中详细的健康和经济数据为这种分析提供了一个独特的机会，也是这里提出的比较工作的理想选择。英国提供了一个与美国进行比较的特别有用的点，因为在英国，许多即将退休的夫妇有相当不同的公共和私人养老金组合，在应计率、提前退休日期和正常退休日期方面有相当不同的结构。在英国50-65岁的夫妇中，来自艾尔莎的第一批数据已经显示了养老金的多样性 安排这是英国第一个允许进行如此仔细分析的数据源。此外，残疾制度中的激励措施及其与社会保险其他组成部分的互动方式在联合王国也大不相同，这将有助于区分残疾保险激励措施与健康事件对夫妇退休决定的直接影响。老年人夫妇可获得的经济激励与 要衡量他们的健康状况，就必须建立仔细的模型和提供详细的纵向数据。艾尔莎和HRS满足这两项要求。我们提出了两种替代方法来模拟联合退休决策和健康，家庭因素和退休激励措施的影响：一个准简化形式的面板数据模型和一个完全指定的集体动态规划模型。

The key objective of the proposed research is to understand the separate impact of health status, social security and disability programs, employer pension incentives, spousal care giving, and preferences for joint leisure on the retirement decisions of individuals in couples. The detailed health and economic data in the English Longitudinal Study of Aging (ELSA) and the Health and Retirement Study (HRS) provide a unique opportunity for this analysis and are also ideal for the comparative work proposed here. The UK provides a particularly useful point of comparison with the US as many couples approaching retirement in the UK have quite different combinations of public and private pensions with quite different structures with respect to accrual rates, early retirement dates and normal retirement dates. Among those aged 50-65 in couples in the UK, the first data from ELSA have already shown the variety of pension arrangements. This is the first data source in the UK to allow such a careful analysis. Also the incentives in the disability system and the way they interact with other components of social insurance are quite different in the UK, and will help distinguish disability insurance incentives from the direct impact of health events on retirement decisions by couples. The complicated interactions between the financial incentives available to older individuals in couples and the measurement of their health status make careful modeling and detailed longitudinal data essential. ELSA and HRS fulfill both of these requirements. We propose two alternative approaches to modeling joint retirement decisions and the impact of health, family considerations, and retirement incentives: a quasi-reduced form panel data model and a fully specified collective dynamic programming model.