Retirement patterns in Hong Kong: a censored regression analysis |
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Authors: | Suen W |
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Institution: | (1) School of Economics and Finance, The University of Hong Kong, Pokfulam Road, Hong Kong (Fax: +8522548-1152; e-mail: hrneswc@hkusua.hku.hk), HK |
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Abstract: | This paper provides an overview of retirement patterns in Hong Kong on the basis of limited data. A censored regression model
is used to infer the retirement age from people‘s current retirement status and their current age. This model is equivalent
to a restricted probit model, and the interpretation of parameters is straightforward. The results clearly show a negative
income effect on the retirement decision. The retirement age seems to be positively related to lifetime earnings but negatively
related to the rate of decline of earnings with age.
JEL classification: C24, J14, J26
Received May 6, 1996 / Accepted February 5, 1997 |
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Keywords: | : Retirement age probit model cohort analysis |
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