Title | Late Career Job Loss and Retirement Behavior of Couples |
Publication Type | Journal Article |
Year of Publication | 2017 |
Authors | Lee, A |
Journal | Research on Aging |
Volume | 39 |
Issue | 1 |
Pagination | 7 - 28 |
Date Published | Jan-01-2017 |
ISSN Number | 0164-0275 |
Keywords | Couples, Employment and Labor Force, Job loss, Marriage, Older Adults, Retirement Planning and Satisfaction |
Abstract | This article argues that wealth uncertainty influences when couples choose to retire. Using data from the Health and Retirement Study, I show that wives delay retirement when their husbands retire following a job loss. This effect is stronger when husbands are the primary earners, and couples are relatively poorer. This provides evidence of intra-household insurance that mitigates the impact of an unexpected earnings shock. I find that wives tend to delay retirement only until they become eligible for social security. This suggests that social security benefits can relax households’ budget constraints and allow wives to join their husbands in retirement |
URL | http://journals.sagepub.com/doi/10.1177/0164027516656136 |
DOI | 10.1177/0164027516656136 |
Short Title | Research on Aging |
Citation Key | 8861 |
PubMed ID | 28181869 |