TY  - JOUR
AU  - Gustman,Alan L.
AU  - Steinmeier,Thomas L.
TI  - Retirement in a Family Context: A Structural Model for Husbands and     Wives
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 4629
PY  - 1994
Y2  - January 1994
UR  - http://www.nber.org/papers/w4629
L1  - http://www.nber.org/papers/w4629.pdf
N1  - Author contact info:
Alan L. Gustman
Department of Economics
Dartmouth College
Hanover, NH  03755-3514
Tel: 603/646-2641
Fax: 603/646-2122
E-Mail: ALAN.L.GUSTMAN@DARTMOUTH.EDU
AB  - A structural econometric model of retirement of married couples is specified and estimated with recent panel data from the NLS for Mature Women.  A coincidence of spouses retiring together, despite the younger ages of wives, suggests explicit efforts at coordination.  The estimates suggest that one reason is a coincidence of tastes for leisure.  More importantly, each spouse, and perhaps husbands in particular, values retirement more once their spouse has retired.  The opportunity set accounts for peaks in the retirement hazards of each spouse, but coordination in opportunities is not responsible for coordination of retirement dates.
ER  -