IDEAS home Printed from https://ideas.repec.org/a/spr/qualqt/v57y2023i1d10.1007_s11135-022-01366-0.html
   My bibliography  Save this article

Do elderly want to work? Modeling elderly’s decision to fight aging Thailand

Author

Listed:
  • Krittiya Kantachote

    (Srinakharinwirot University)

  • Nathakhun Wiroonsri

    (King Mongkut’s University of Technology Thonburi)

Abstract

Thailand has entered into an aging society since the year 2000. Using the 2017 Survey of the Older Persons in Thailand collected by National Statistical Office of Thailand, this study uses cross tabulation, random forest with variable importance measure and lasso logistic regression to examine factors that have effects on the elderly’s decision to remain in the labor market after retirement. This study reveals that these following variables: age, education level, healthcare eligibility, marital status, health condition, total assets, gender, residential type, percent of elderly in the household, and number of children have strong influences on an elderly’s desire to continue work. By knowing which factors contribute to the elderly wish to continue work in the market, this research allows for future prediction of the labor market that can accommodate elderly in Thailand. Our final models of random forest and lasso logistic regression provide prediction accuracy of 68.19 and 69.58 percent on the elderly’s desire to work, respectively. This study has a significant impact as policymakers can utilize our models in predicting elderly’s desire to work after retirement age and design a labor market that can accommodate elderly in Thailand in the future.

Suggested Citation

  • Krittiya Kantachote & Nathakhun Wiroonsri, 2023. "Do elderly want to work? Modeling elderly’s decision to fight aging Thailand," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(1), pages 509-539, February.
    • Handle: RePEc:spr:qualqt:v:57:y:2023:i:1:d:10.1007_s11135-022-01366-0
    DOI: 10.1007/s11135-022-01366-0
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11135-022-01366-0
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11135-022-01366-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Jean-Olivier Hairault & François Langot & Thepthida Sopraseuth, 2010. "Distance to Retirement and The Job Search of Older Workers: The Case For Delaying Retirement Age," Post-Print hal-00517107, HAL.
    2. Nicole Maestas, 2010. "Expectations and Realizations of Work after Retirement," Journal of Human Resources, University of Wisconsin Press, vol. 45(3).
    3. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers 01-09, RAND Corporation.
    4. Steven Haider & David S Loughran, 2001. "Elderly Labor Supply Work or Play?," Working Papers DRU-2582, RAND Corporation.
    5. Alan L. Gustman & Thomas L. Steinmeier, 1994. "Employer-Provided Health Insurance and Retirement Behavior," ILR Review, Cornell University, ILR School, vol. 48(1), pages 124-140, October.
    6. Sara Curran & Chang Chung & Wendy Cadge & Anchalee Varangrat, 2002. "Boys and Girls Educational Opportunities in Thailand: The Effects of Siblings, Migrations, School Proximity, and Village Remoteness," Working Papers 304, Princeton University, Woodrow Wilson School of Public and International Affairs, Office of Population Research..
    7. Norma B. Coe & Mashfiqur R. Khan & Matthew S. Rutledge, 2013. "How Important Is Medicare Eligibility in the Timing of Retirement?," Issues in Brief ib2013-7, Center for Retirement Research.
    8. Kathleen McGarry, 2004. "Health and Retirement: Do Changes in Health Affect Retirement Expectations?," Journal of Human Resources, University of Wisconsin Press, vol. 39(3).
    9. Elyas Elyasiani & Jingyi Jia & Hadi Movaghari, 2019. "Determinants of dividend payout and dividend propensity in an emerging market, Iran: an application of the LASSO," Applied Economics, Taylor & Francis Journals, vol. 51(42), pages 4576-4596, September.
    10. Komonpaisarn, Touchanun & Loichinger, Elke, 2019. "Providing regular care for grandchildren in Thailand: An analysis of the impact on grandparents’ health," Social Science & Medicine, Elsevier, vol. 229(C), pages 117-125.
    11. Lea Kubíčková & Vladimír Hajko & Martina Rašticová & Naďa Hazuchová, 2018. "Active Work Participation of the Czech Elderly," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 66(5), pages 1287-1293.
    12. Simon Parker & Jonathan Rougier, 2007. "The retirement behaviour of the self-employed in Britain," Applied Economics, Taylor & Francis Journals, vol. 39(6), pages 697-713.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Aïda Solé-Auró & Bruno Arpino, 2024. "Gender inequalities in social club participation in Europe: the role of women’s empowerment at the country level," Quality & Quantity: International Journal of Methodology, Springer, vol. 58(4), pages 3655-3672, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nicole Maestas & Kathleen Mullen & David Powell, 2013. "The Effect of Local Labor Demand Conditions on the Labor Supply Outcomes of Older Americans," Discussion Papers 13-014, Stanford Institute for Economic Policy Research.
    2. Larsen, Mona & Pedersen, Peder J., 2012. "Paid Work after Retirement: Recent Trends in Denmark," IZA Discussion Papers 6537, Institute of Labor Economics (IZA).
    3. James Marton & Stephen A. Woodbury, 2013. "Retiree Health Benefits as Deferred Compensation," Public Finance Review, , vol. 41(1), pages 64-91, January.
    4. Alicia H. Munnell & Dan Muldoon & Steven A. Sass, 2009. "Recessions and Older Workers," Issues in Brief ib2009-9-2, Center for Retirement Research, revised Jan 2009.
    5. J L Ford & K Park & S Sen, 2009. "All Work and No Play: Pecuniary Versus Non-Pecuniary Factors in the Labour Supply of the Elderly," Discussion Papers 09-08, Department of Economics, University of Birmingham.
    6. Alicia H. Munnell & Steven A. Sass, 2007. "The Labor Supply of Older Americans," Working Papers, Center for Retirement Research at Boston College wp2007-12, Center for Retirement Research, revised Jun 2007.
    7. Eric French & John Bailey Jones, 2017. "Health, Health Insurance, and Retirement: A Survey," Annual Review of Economics, Annual Reviews, vol. 9(1), pages 383-409, September.
    8. Boman, Anders, 2015. "Spending time together? Effects on the retirement decision from partner’s labour market status," Working Papers in Economics 618, University of Gothenburg, Department of Economics.
    9. Gorry, Devon & Slavov, Sita Nataraj, 2021. "The effect of retirement on health biomarkers," Economics & Human Biology, Elsevier, vol. 40(C).
    10. Vere, James P., 2011. "Social Security and elderly labor supply: Evidence from the Health and Retirement Study," Labour Economics, Elsevier, vol. 18(5), pages 676-686, October.
    11. Giesecke, Matthias, 2014. "Actuarial Adjustments, Retirement Behaviour and Worker Heterogeneity," Ruhr Economic Papers 490, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    12. Huber, Martin & Lechner, Michael & Wunsch, Conny, 2013. "The Effect of Firms' Partial Retirement Policies on the Labour Market Outcomes of Their Employees," IZA Discussion Papers 7513, Institute of Labor Economics (IZA).
    13. Stefan Hochguertel, 2010. "Self-Employment around Retirement Age," Tinbergen Institute Discussion Papers 10-067/3, Tinbergen Institute.
    14. Zissimopoulos, Julie M. & Karoly, Lynn A., 2007. "Transitions to self-employment at older ages: The role of wealth, health, health insurance and other factors," Labour Economics, Elsevier, pages 269-295.
    15. repec:zbw:rwirep:0490 is not listed on IDEAS
    16. Joshua Congdon-Hohman, 2015. "Love, Toil, And Health Insurance: Why American Husbands Retire When They Do," Contemporary Economic Policy, Western Economic Association International, vol. 33(1), pages 118-140, January.
    17. Mary J. Lopez & Sita Slavov, 2020. "Do immigrants delay retirement and social security claiming?," Applied Economics, Taylor & Francis Journals, vol. 52(10), pages 1105-1123, February.
    18. Datta Gupta, Nabanita & Kleinjans, Kristin J. & Larsen, Mona, 2011. "The Effect of an Acute Health Shock on Work Behavior: Evidence from Different Health Care Regimes," IZA Discussion Papers 5843, Institute of Labor Economics (IZA).
    19. Aspen Gorry & Devon Gorry & Sita Nataraj Slavov, 2018. "Does retirement improve health and life satisfaction?," Health Economics, John Wiley & Sons, Ltd., vol. 27(12), pages 2067-2086, December.
    20. Mona Larsen & Peder Pedersen, 2013. "To work, to retire – or both? Labor market activity after 60," IZA Journal of European Labor Studies, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 2(1), pages 1-20, December.
    21. Julie Zissimopoulos & Lynn A. Karoly, 2004. "Transitions to Self-Employment at Older Ages The Role of Wealth, Health, Health Insurance, and Other Factors," Working Papers WR-135, RAND Corporation.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:qualqt:v:57:y:2023:i:1:d:10.1007_s11135-022-01366-0. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.