Elderly’s Work Decisions: A Becker Family Economics Analysis of Panel Data
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Abstract
This study examines determinant factors influencing elderly work decisions in extended Thai families, focusing on how intergenerational transfers and family dynamics shape these choices. Using fixed effects logistic regression on panel data from the Health, Aging, and Retirement in Thailand (HART NIDA) survey (2015, 2017, 2021) of 936 extended household units. Our findings reveal that when grandparents choose between unpaid work in family and paid work in labor market, the elderly do not make decisions based solely on personal factors, as suggested in traditional labor economics. Instead, they are influenced by their status as grandparents who have obligations to the household as family members. These results highlight the complex interplay between individual characteristics, family obligations, and intergenerational transfers in shaping elderly work decisions in Thai extended families. The factors that affect Thai elderly decision-making to work after retirement include age, health condition, education, wage, non-labor income, occupational characteristics, pension, family structure, cultural norms (co-residential), and family obligations. The study contributes a broader understanding of elderly labor participation in developing country contexts and informing policies on elderly welfare and family support.
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