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Occupational pensions and job mobility in Britain: Estimation of a random‐effects competing risks model
Author(s) -
Mealli Fabrizia,
Pudney Stephen
Publication year - 1996
Publication title -
journal of applied econometrics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.878
H-Index - 99
eISSN - 1099-1255
pISSN - 0883-7252
DOI - 10.1002/(sici)1099-1255(199605)11:3<293::aid-jae399>3.0.co;2-n
Subject(s) - pension , estimation , occupational mobility , random effects model , economics , labour economics , demographic economics , econometrics , medicine , finance , meta analysis , management
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.