Retirement patterns of couples in Europe

IZA Journal of European Labor Studies

Table 7 Bivariate probit estimates

Probability of retiring	Men	Women
Partner leaving the labor force	0.104	0.097**
	(0.064)	(0.041)
Age >early	0.043**	-0.001
	(0.018)	(0.018)
Age >full	0.096***	0.058**
	(0.028)	(0.026)
Age	0.043***	0.037***
	(0.005)	(0.004)
Age difference <0	-0.052	0.051
	(0.037)	(0.031)
0 ≤Age difference <1	-0.005	0.047*
	(0.030)	(0.025)
1 ≤Age difference <2	0.016	0.051**
	(0.026)	(0.022)
2 ≤Age difference <4	0.004	0.014
	(0.019)	(0.021)
High education	-0.029	0.026
	(0.020)	(0.016)
Medium education	0.024	-0.003
	(0.016)	(0.014)
Partner high education	-0.028	0.002
	(0.020)	(0.017)
Partner medium education	-0.023	0.014
	(0.016)	(0.014)
Having children	-0.047	0.037
	(0.029)	(0.028)
Having grandchildren	0.081***	0.024*
	(0.015)	(0.013)
Bad health in previous wave	-0.030	0.017
	(0.019)	(0.015)
Partner bad health in previous wave	-0.010	0.015
	(0.017)	(0.017)
Log-likelihood	-1845.45	-1838.39
ρ	0.179	0.121
	(0.207)	(0.174)
LR test of ρ=0	0.72	0.47
	[0.40]	[0.49]

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 *10%, ** 5%, and *** 1%. ρ=corr(u_h, ε_h). p-values in squared brackets.