|Title||Modeling Retirement Behavior: A Test of the Option-Value Model Using the Health and Retirement Study|
|Year of Publication||2001|
|Institution||Congressional Budget Office|
|Keywords||Pensions, Retirement Planning and Satisfaction, Social Security|
This study outlines a latent variable model for consistently estimating the effects of health and other characteristics on the labor force transitions of older, working-aged adults. This model deals explicitly with both the potential endogeneity of global self-reported health measures and with the measurement error inherent in quantifying health status. We estimate the model using the longitudinal Health and Retirement Study and evaluate its properties by testing its underlying assumptions. We intend our results to inform work that uses the kinds of latent variable models we have been using in our own research as well as other research using the health variables available on the HRS.
|Endnote Keywords|| |
Social Security/Pensions/Retirement Behavior
|Endnote ID|| |