Did the Intergenerational Solidarity Pact increase the employment rate of older workers in Belgium? A macro-econometric evaluation

Table 5 The impact of the ISP on the quarterly salaried private employment (rate) of male workers aged 50–59 in 2008q2 with alternative specifications of GDP

		Observed	Predicted	Impact in %
		value	value (s.e.)	points ^a
Regressions without the contemporaneous value of GDP
Employment rate		36.23 %	35.80 %	0.43
	95 % CI		[35.06 ; 36.53]
	90 % CI		[35.18 ; 36.41]
Employment		258,178	255,087	3,091
Regressions using GDP of neighbors
Employment rate		36.23 %	35.84 %	0.39
	95 % CI		[35.19 ; 36.49]
	90 % CI		[ 35.30 ; 36.38]
Employment		258,178	255,379	2,799

^aThe impact is measured by the difference between the observed and the predicted value