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Author: Berkovec, James
Resulting in 1 citation.
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Berkovec, James Stern, Steven |
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Job Exit Behavior of Older Men Econometrica 59,1 (January 1991): 189-210. Also: http://www.jstor.org/stable/2938246 Cohort(s): Older Men Publisher: Department of Economics, Northwestern University Keyword(s): Age and Ageing; Education; Employment; Employment History; Health Factors; Health/Health Status/SF-12 Scale; Heterogeneity; Labor Economics; Modeling; Quits; Retirement/Retirement Planning; Unemployment Permission to reprint the abstract has not been received from the publisher. A dynamic programming model of job exit behavior and retirement is constructed and estimated using the method of simulated moments.The model and estimation method allow for both unobserved individual effects and unobserved job-specific "match" effects. The model is estimated using two different assumptions about individual discount factors. First, a static model, with the discount factor equal to zero, is estimated. Then a dynamic model, with the discount factor equal to .95 is estimated. In both models, it is found that bad health, age, and lack of education increase the probability of retirement. The dynamic model performs better than the static model and has different implications for retirement behavior. The job-specific effects are an important source of unobserved heterogeneity. |
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Bibliography Citation
Berkovec, James and Steven Stern. "Job Exit Behavior of Older Men." Econometrica 59,1 (January 1991): 189-210.
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