to the rise of a fourth pillar of retirement income: labor earnings. Using data from the German Socio-economic Panel, we … find that retirees with low nonlabor income are more likely to work after normal retirement age. The negative relationship … strong for retirees with low income. We conclude that labor market earnings constitute a pillar of retirement income already …

externalities in leisure. In this study, we investigate how retirement affects the hours of leisure together of individuals in a … effect of retirement on hours of leisure separate and together of individuals in a couple. We find that the retirement … retirement of the husband significantly increases own hours of leisure of the husband but it does not increase joint leisure …