Retirement patterns of couples in Europe

IZA Journal of European Labor Studies

Table 2 Bivariate probit estimates

Probability of leaving the labor force	Men		Women
Partner leaving the labor force		0.026		0.212***
		(0.094)		(0.063)
Age >early	0.046**	0.045**	-0.001	-0.007
	(0.021)	(0.022)	(0.023)	(0.022)
Age >full	0.165***	0.168***	0.143***	0.125***
	(0.033)	(0.034)	(0.035)	(0.034)
Age	0.045***	0.044***	0.047***	0.032***
	(0.003)	(0.006)	(0.003)	(0.006)
Age difference <0	0.032	0.020	-0.039*	0.066*
	(0.023)	(0.049)	(0.022)	(0.035)
0 ≤Age difference <1	0.054**	0.045	-0.009	0.058**
	(0.024)	(0.039)	(0.024)	(0.029)
1 ≤Age difference <2	0.057***	0.048	0.007	0.060**
	(0.022)	(0.036)	(0.023)	(0.026)
2 ≤Age difference <4	0.039*	0.035	-0.031	0.005
	(0.020)	(0.023)	(0.022)	(0.024)
High education	-0.046**	-0.047**	-0.029	-0.018
	(0.021)	(0.021)	(0.021)	(0.021)
Medium education	0.012	0.012	0.006	0.011
	(0.018)	(0.018)	(0.018)	(0.017)
Partner high education	-0.045**	-0.044**	0.018	0.028
	(0.021)	(0.021)	(0.022)	(0.021)
Partner medium education	-0.021	-0.021	0.020	0.013
	(0.018)	(0.018)	(0.018)	(0.017)
Having children	-0.055*	-0.056*	0.030	0.033
	(0.031)	(0.031)	(0.034)	(0.032)
Having grandchildren	0.073***	0.072***	0.047***	0.028*
	(0.016)	(0.017)	(0.016)	(0.016)
Bad health in previous wave	0.022	0.021	0.071***	0.071***
	(0.022)	(0.022)	(0.019)	(0.019)
Partner bad health in previous wave	0.005	0.002	0.039*	0.031
	(0.020)	(0.023)	(0.020)	(0.021)
Log-likelihood	-2524.83	-2524.21	-2524.83	-2513.37
ρ	0.361	0.302	0.361	-0.195
	(0.036)	(0.228)	(0.036)	(0.191)
LR test of ρ=0	82.13	1.55	82.13	0.99
	[0.00]	[0.21]	[0.00]	[0.32]

Notes: N. obs=3,058. Age difference measured as husband age minus wife age. All specifications include country and survey wave dummies. Delta-method standard errors clustered at the individual level in parentheses. Significant at the *10%, ** 5%, and *** 1% level. ρ=corr(u_h, ε_h). p-values in squared brackets.