Partial Retirement and the Analysis of Retirement Behavior

Abstract

The authors estimate a retirement equation with multiple outcome categories to show, first, that self-reported partial retirement is relatively common among white males aged 58 to 69, particularly partial retirement into a job different from the full-time job held at age 55, and that pattern holds even for those not facing mandatory retirement, not unhealthy, and not influenced by pension policies. Second, results from retirement equations specified with dichotomous dependent variables are shown to be sensitive to whether the partially retired are categorized as retired or not retired.