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Brown, Kristine M., and
Ron A. Laschever. 2012. "When They're Sixty-Four: Peer Effects and the Timing of Retirement."
,
4(3): 90-115.
Show Article Details
DOI: 10.1257/app.4.3.90
Abstract:This paper examines the effect of peers on an individual's likelihood of retirement using an administrative dataset of all retirement-eligible Los Angeles teachers for the years 1998-2001. We use two large unexpected pension reforms that differentially impacted financial incentives within and across schools to construct an instrument for others' retirement decisions. Controlling for individual and school characteristics, we find that the retirement of an additional teacher in the previous year at the same school increases a teacher's own
likelihood of retirement by 1.5-2 percentage points. We then explore some possible mechanisms through which this effect operates. (JEL H75, I21, J14, J26, J45)
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Authors:
Brown, Kristine M. (U IL)
Laschever, Ron A. (U IL)
JEL Classifications:
H75: State and Local Government: Health; Education; Welfare; Public Pensions
I21: Analysis of Education
J14: Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
J26: Retirement; Retirement Policies
J45: Public Sector Labor Markets
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