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The retirement behaviour of the self-employed in Britain
[journal article]
Abstract We analyse the retirement behaviour of older self-employed workers, using a life cycle framework and a multinomial logit model of dynamic employment and retirement choices. Using data from the two-wave Retirement Survey, we find that greater actual or potential earnings decrease the probability of r... view more
We analyse the retirement behaviour of older self-employed workers, using a life cycle framework and a multinomial logit model of dynamic employment and retirement choices. Using data from the two-wave Retirement Survey, we find that greater actual or potential earnings decrease the probability of retirement among the self-employed. In contrast to employees, none of gender, health or family circumstances appear to affect self-employed retirement decisions. The dynamic analysis reveals that relatively few employees and virtually no retirees switch into self-employment in later life. The switches that do occur are motivated less by attempts to use self-employment as a bridge job or `stepping stone' to full retirement, than by self-employment being a last resort for less affluent workers with job histories of weak attachment to the labour market. We compare self-employed and employee retirement behaviour, and discuss the policy implications of our results.... view less
Document language
English
Publication Year
2007
Page/Pages
p. 697-713
Journal
Applied Economics, 39 (2007) 6
DOI
https://doi.org/10.1080/00036840500447807
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)