근로자의 정년과 자녀 결혼

초록

The extension of the mandatory retirement age raises lifetime income, which may affect the marriage decision of the children. The timing of retirement can be also related to the children’s marriage decision in Korea, where coworkers commonly pay congratulatory money to the colleagues for their children’s wedding. We analyze the effect of male workers’ mandatory retirement age on children’s marriage using the Korea Longitudinal Study of Ageing micro data. The 2013 reform in Korea mandated the retirement age over 60 after 2016. Exploiting this fact, we apply the difference-in-differences method to compare those born before 1956 and those born after 1957 between the pre-2015 and post-2016 periods. The result shows that the daughters of those who were affected by the retirement age reform were more likely to be married by 14.1%p, while the marriage probability of the sons decreased by 13.3%p. Falsification tests using fake treatment and years do not show similar results. The findings imply that greater lifetime income caused by delayed retirement affects the marriage of daughters and sons heterogeneously.

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