The Effect of Children on Early Retirement Behavior in Europe
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Using individual data drawn from the Survey of Health, Ageing and Retirement in Europe, this paper analyzes how having fewer children affects early retirement of the elderly in eleven European countries. To examine the endogeneity of the number of children, I use information on the number of siblings of the respondent as instruments. The estimates indicate that having fewer children increases the probability of early retirement among older workers in Europe. The reasons vary by sex. For men, it is because having fewer children reduces the likelihood of having young children who need financial support from them in later life. For women, it is because women with fewer children are less likely to have employment interruptions during their reproductive phase and thus become vested in pensions earlier than women with more children.
Abstract
Using individual data drawn from the Survey of Health, Ageing and Retirement in Europe, this paper analyzes how having fewer children affects early retirement of the elderly in eleven European countries. To examine the endogeneity of the number of children, I use information on the number of siblings of the respondent as instruments. The estimates indicate that having fewer children increases the probability of early retirement among older workers in Europe. The reasons vary by sex. For men, it is because having fewer children reduces the likelihood of having young children who need financial support from them in later life. For women, it is because women with fewer children are less likely to have employment interruptions during their reproductive phase and thus become vested in pensions earlier than women with more children.
참고문헌 (30)
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