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Spousal Effect and Timing of Retirement

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  • Minna Väre

Abstract

The retirement decisions of individuals are strongly influenced by spousal retirement, financial incentives and institutional constraints such as access to early retirement benefits. In the European Union (EU), farm retirement is encouraged by early retirement provisions for farmers. As exit from farming determines the characteristics of structural change in agriculture, it is important to find out how spousal retirement and economic incentives affect the timing and type of retirement decisions among elderly farmers. This paper analyses the timing of early retirement decisions of farming couples using duration analysis and different exit channels. The empirical analysis is based on Finnish farm‐level panel data for the period 1993–1998. The results suggest that an expected pension particularly advances farm transfers. Farming couples are found to co‐ordinate their early retirement decisions. However, farmers are not found to co‐ordinate their early retirement according to spousal retirement under other pension schemes.

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  • Minna Väre, 2006. "Spousal Effect and Timing of Retirement," Journal of Agricultural Economics, Wiley Blackwell, vol. 57(1), pages 65-80, March.
    • Handle: RePEc:bla:jageco:v:57:y:2006:i:1:p:65-80
    DOI: 10.1111/j.1477-9552.2006.00032.x
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    1. Huovinen, Pasi & Piekkola, Hannu, 2002. "Early Retirement and Use of Time by Older Finns," Discussion Papers 787, The Research Institute of the Finnish Economy.
    2. Hennessy, Thia C., 2002. "Modeling Succession on Irish Dairy Farms," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24953, European Association of Agricultural Economists.
    3. Hakola, Tuulia, 2002. "Economic Incentives and Labour Market Transitions of the Aged Finnish Workforce," Research Reports 89, VATT Institute for Economic Research.
    4. Errington, Andrew, 2002. "Handing Over the Reins: A Comparative Study of Intergenerational Farm Transfers in England, France and Canada," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24905, European Association of Agricultural Economists.
    5. Ruuskanen, Olli-Pekka, . "An Econometric Analysis of Time Use in Finnish Households," ETLA A, The Research Institute of the Finnish Economy, number 41, June.
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    4. M.A.P.M. van Asseldonk & H.B. van der Veen & H.A.B. van der Meulen, 2010. "Retirement planning by Dutch farmers: rationality or randomness?," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 70(3), pages 365-376, November.

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