Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251793 
Authors: 
Year of Publication: 
2022
Series/Report no.: 
SOEPpapers on Multidisciplinary Panel Data Research No. 1163
Publisher: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Abstract: 
This study contributes to the subjective well-being and retirement literature by quantifying life satisfaction before (4) and after retirement (9+) periods asking: Are retirees more satisfied? Fixed-effects and causal instrumental variables (IV) estimates with individual longitudinal data of the Socio-Economic Panel (SOEP, 33 waves) analyze anticipation and adaptation retirement effects of statutory insured and civil service pensioners in Germany. Main findings: The occupational situation absorbs a positive personal and family influence. There are positive anticipation effects before retirement followed by adaptation instantly when retired both for statutory insured and civil service pensioners. With neutral respectively negative post-retirement adaptation there is no positive retirement effect for both pensioner groups. In short: retirees are not more satisfied, a remarkable result both for statutory insured and civil service pensioners.
Subjects: 
Retirement
statutory insured and civil service pensioners
life satisfaction/subjective well-being
anticipation and adaptation effects
robust fixed-effect regression
causality IV estimates
Socio-Economic Panel (SOEP)
Germany
JEL: 
I31
J26
C21
C23
Document Type: 
Working Paper

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