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Parametric Duration Analysis of Retirement Decisions in Taiwan
Wen-Shai Hung 서울행정학회 2004 서울행정학회 학술대회 발표논문집 Vol.- No.-
This paper analyses retirement decisions for the middle aged and elderly in Taiwan. The data used is from the Survey of Health and Living Status (SHLS). First, we find the estimated coefficients of age, gender, Mainlander, poorer health status, urban, large families, earnings and NHI etc. present a strong significant and negative value for retirement decisions. That is, these situations have a higher hazard rate and workers are likely to retire earlier than otherwise. Secondly, we also find the estimated coefficients of marital status, education, savings and eligible pensions present a significant and positive value for retirement behaviour. That is, these situations have a lower hazard rate and workers are likely to retire later than otherwise. Furthermore, in the Weibull model α = 1.584, which indicates hazard rates have positive duration dependence. That is, as duration in work gets longer, hazard rates may increase and workers would be more likely to retire earlier than otherwise.