Empirical analyses of dynamic categorical data
type: CreativeWork
description: [ACCESS RESTRICTED TO THE UNIVERSITY OF MISSOURI-COLUMBIA AT AUTHOR'S REQUEST.] Essay 1 analyzes the married couples' retirement decision using the PSID data. I employ the proportional hazard model to examine the factors that influence the retirement decision of husband and wife, and focus on examining the correlation of husband and wife's retirement status. This essay finds that an individual is more likely to retire if his or her spouse has retired. The retirement hazard is higher if an individual is in worse health. The worse health status also affects the spouse's retirement hazard, but the spouse effect is asymmetry. With the wife in worse health, the husband's retirement hazard decreases. With the husband in worse health, the wife's retirement hazard increases. I also find that the greater the social security income or pension, the higher the retirement hazard. But for the spouse effect, the husband's social security income or pension has impact on the retirement schedule of his wife, while I find no significant impact of wife's retirement benefit on husband's retirement timing. Essay 2 explores the transitions of health status using PSID data from 1984 to 2011 with the ordered logit model and the Cox proportional hazards model. The result shows that the impact of current health status on future health status is relatively large. A worse current health status would lead to a smaller probability for health deterioration, but it is less likely to be in a good health status in the future. There is strong health persistence. Social economics factors' impact on latent health status is also significant, although the magnitude is relatively small. Higher income level and education level would decrease the likelihood of health deterioration, and individuals with high income and high education would be more likely to be in better health status. When comparing different occupations, white-collar job is less associated with health deterioration, and this type of worker i…
abstract: [ACCESS RESTRICTED TO THE UNIVERSITY OF MISSOURI-COLUMBIA AT AUTHOR'S REQUEST.] Essay 1 analyzes the married couples' retirement decision using the PSID data. I employ the proportional hazard model to examine the factors that influence the retirement decision of husband and wife, and focus on examining the correlation of husband and wife's retirement status. This essay finds that an individual is more likely to retire if his or her spouse has retired. The retirement hazard is higher if an individual is in worse health. The worse health status also affects the spouse's retirement hazard, but the spouse effect is asymmetry. With the wife in worse health, the husband's retirement hazard decreases. With the husband in worse health, the wife's retirement hazard increases. I also find that the greater the social security income or pension, the higher the retirement hazard. But for the spouse effect, the husband's social security income or pension has impact on the retirement schedule of his wife, while I find no significant impact of wife's retirement benefit on husband's retirement timing. Essay 2 explores the transitions of health status using PSID data from 1984 to 2011 with the ordered logit model and the Cox proportional hazards model. The result shows that the impact of current health status on future health status is relatively large. A worse current health status would lead to a smaller probability for health deterioration, but it is less likely to be in a good health status in the future. There is strong health persistence. Social economics factors' impact on latent health status is also significant, although the magnitude is relatively small. Higher income level and education level would decrease the likelihood of health deterioration, and individuals with high income and high education would be more likely to be in better health status. When comparing different occupations, white-collar job is less associated with health deterioration, and this type of worker i…
author: Hu, Cai
language: eng
language: English
date published: 2015
date modified: 2026-07-24T03:07:24Z
provider: University of Missouri
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: University of Missouri--Columbia

PropertyValue
property ID: Handle
value: https://hdl.handle.net/10355/47059

PropertyValue
property ID: DOI
value: 10.32469/10355/47059