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Booms, busts and retirement timing
Version 2 2023-06-12, 06:35
Version 1 2023-06-08, 15:26
journal contribution
posted on 2023-06-12, 06:35 authored by Richard Disney, Anita Ratcliffe, Sarah SmithCyclical fluctuations - which affect both asset and labour markets - can have an ambiguous effect on retirement. We explore this empirically using data from the British Household Panel Survey, exploiting small area geographic identifers to match local house prices, earnings and unemployment to respondents. We match stock prices via the date of interview. Our results show little evidence of any positive wealth effects despite large spatial and temporal variations in asset prices over the period analysed. We find more response to local labour market conditions - increases in unemployment are associated with earlier retirement while increases in wages delay retirement.
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Publication status
- Published
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- Published version
Journal
EconomicaISSN
0013-0427Publisher
Wiley-BlackwellExternal DOI
Issue
327Volume
82Page range
399-419Department affiliated with
- Economics Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2013-07-25First Open Access (FOA) Date
2014-07-07First Compliant Deposit (FCD) Date
2014-07-07Usage metrics
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