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Title: On the Use of Expectations Data in Micro Surveys: The Case of Retirement
Resulting in 1 citation.
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Wolpin, Kenneth I. Gonul, Fusun Feride |
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On the Use of Expectations Data in Micro Surveys: The Case of Retirement Report, Columbus OH: Center for Human Resource Research, The Ohio State University, 1985 Cohort(s): Older Men Publisher: Center for Human Resource Research Keyword(s): Labor Supply; Retirement/Retirement Planning Most large-scale data sets, cross-sectional and longitudinal, contain questions concerned with expectations about future life events, among them future labor force behavior, fertility, schooling, and occupation. The aim of this paper is to ascertain whether data on retirement expectations are consistent with data on actual labor supply in the sense that both are derived from the same optimizing model. The researchers develop a methodology for this purpose and implement it using data from the NLS of Older Men. They find that reported expected retirement ages are actually more accurate than expected retirement ages predicted by the labor supply model, although the correlation between them is significant. This is consistent with the idea that expectations data provide valuable information about labor supply behavior which can be exploited to improve estimates of labor supply models. |
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Bibliography Citation
Wolpin, Kenneth I. and Fusun Feride Gonul. "On the Use of Expectations Data in Micro Surveys: The Case of Retirement." Report, Columbus OH: Center for Human Resource Research, The Ohio State University, 1985. |