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Retirement patterns in Hong Kong: A censored regression analysis

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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

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Authors and Affiliations

  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

    Wing Suen

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  1. Wing Suen
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Received May 6, 1996 / Accepted February 5, 1997

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Suen, W. Retirement patterns in Hong Kong: A censored regression analysis. J Popul Econ 10, 443–461 (1997). https://doi.org/10.1007/s001480050053

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  • DOI: https://doi.org/10.1007/s001480050053

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