Article1996

Occupational pensions and job mobility in Britain: Estimation of a random-effects competing risks model

50 citations0/0 files storedJournal of Applied Econometrics

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Retirement, Disability, and Employment Labor market dynamics and wage inequality Financial Literacy, Pension, Retirement Analysis

Abstract

We analyse transitions between pensionable jobs, non-pensionable jobs, and other labour market states, using the 1988/9 UK Retirement Survey. We focus on the positive association between length of job tenure and pensionable status, allowing for the possibility that pension scheme members are less mobile than other workers because they have persistent unobserved characteristics that predispose them towards a high degree of security in both employment and retirement. We use a competing risks model with state-specific random effects. The model is estimated by simulated maximum likelihood.

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References

1993Smooth unbiased multivariate probability simulators for maximum likelihood estimation of limited dependent variable models 1991Job Exit Behavior of Older Men 1981On the Use of Simulated Frequencies to Approximate Choice Probabilities 1987Estimating a Structural Search Model: The Transition from School to Work 1980Employment Hazards: An Investigation of Market Performance.1993The impact of training on the frequency and duration of employment 1993Estimation and testing in the random effects probit model 1984Earnings, Unemployment, and the Allocation of Time Over Time

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