Labour force and retirement dynamics of married couples: evidence from Australia
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PhD Seminar (Econ)
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Using special modules of the Household, Income and Labour Dynamics (HILDA) panel survey, this paper provides new evidence on labour force and retirement dynamics of married couples in Australia. First, a standard multinomial logit model is employed to identify factors associated with labour force transition patterns. Second, a dynamic random effects multinomial logit model is used to estimate the determinants of joint retirement status as well as individual retirement status of the married couples after controlling for unobserved heterogeneity. The results reveal a strong dependence of labour force transition patterns and retirement dynamics of one spouse on the transition pattern and retirement status of the other. Estimates also show that age, initial and previous period labour force status, long-term disability conditions, net household wealth, superannuation, equity and investment levels are the key determinants of labour force transition and joint retirement behaviour.
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