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|Title:||A Simultaneous Logit Model of the Dual-Earner Retirement Decision|
|Author(s):||Campione, Wendy Ann|
|Department / Program:||Economics|
|Degree Granting Institution:||University of Illinois at Urbana-Champaign|
|Abstract:||The retirement decision of dual-earner families is becoming increasingly important in terms of economic issues and public policy. A theoretical optimization model is developed of the dual-earner retirement decision. The model determines the optimal ages of retirement for both husband and wife. The decision is made a function of economic variables, health and control variables.
To estimate the model, a simultaneous multivariate logit model developed by Nerlove and Press is used. Detailed examination of this model and an extensive discussion of the computer program is also given. The sample used in the estimation was derived from the University of Michigan's Panel Study, 1968-1979 using the 1979 wave. A methodological comparison of the simple logit, conditional logit and simultaneous logit models is included.
The results demonstrate that there is significant simultaneity in the decisions with respect to retirement of the husband and wife within the dual-earner family. Economic variables and health variables were found to significantly affect the decision.
Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1984.
|Date Available in IDEALS:||2014-12-16|