| |
(1)
|
(2)
|
(3)
|
|---|
|
Dep. var.: Retired
|
Benchmark
|
Year-by-year cohort
|
Lagged controls
|
|---|
|
TFP growth
|
0.075 ∗∗∗
|
0.075 ∗∗∗
|
0.059 ∗∗∗
|
| |
(0.010)
|
(0.010)
|
(0.015)
|
|
TFP growth squared
|
–0.015 ∗∗∗
|
–0.015 ∗∗∗
|
–0.015 ∗∗∗
|
| |
(0.002)
|
(0.002)
|
(0.004)
|
|
Married (d)
|
0.009 ∗∗
|
0.009 ∗∗
|
–0.008
|
| |
(0.004)
|
(0.004)
|
(0.006)
|
|
Spouse working (d)
|
–0.042 ∗∗∗
|
–0.042 ∗∗∗
|
–0.027 ∗∗∗
|
| |
(0.004)
|
(0.004)
|
(0.005)
|
|
Emp. health ins. (d)
|
–0.001
|
–0.001
|
0.002
|
| |
(0.005)
|
(0.005)
|
(0.007)
|
|
Gov. health ins. (d)
|
0.127 ∗∗∗
|
0.128 ∗∗∗
|
0.072 ∗∗∗
|
| |
(0.013)
|
(0.013)
|
(0.016)
|
|
Wealth
|
0.062 ∗∗∗
|
0.062 ∗∗∗
|
0.043
|
| |
(0.023)
|
(0.024)
|
(0.036)
|
|
Pension (d)
|
–0.079 ∗∗∗
|
–0.079 ∗∗∗
|
0.002
|
| |
(0.009)
|
(0.009)
|
(0.006)
|
|
Very good health (d)
|
0.014 ∗∗∗
|
0.014 ∗∗∗
|
0.024 ∗∗∗
|
| |
(0.005)
|
(0.005)
|
(0.007)
|
|
Good health (d)
|
0.026 ∗∗∗
|
0.025 ∗∗∗
|
0.041 ∗∗∗
|
| |
(0.005)
|
(0.005)
|
(0.008)
|
|
Fair health (d)
|
0.076 ∗∗∗
|
0.075 ∗∗∗
|
0.095 ∗∗∗
|
| |
(0.010)
|
(0.010)
|
(0.014)
|
|
Poor health (d)
|
0.279 ∗∗∗
|
0.277 ∗∗∗
|
0.264 ∗∗∗
|
| |
(0.026)
|
(0.026)
|
(0.036)
|
|
Pseudo R-squared
|
0.239
|
0.241
|
0.153
|
|
Observations
|
21,856
|
21,826
|
15,693
|
- Notes: All models include race, foreign-born, geographical, education, occupation, age, cohort, and sector dummies, as well as controls for the unemployment rate in the survey year and the sector experience. Statistical significance is represented by * for p<0.10, ** for p<0.05, and *** for p<0.01. Standard errors are clustered at the sector-wave level. All models report the marginal effects of logit regressions. Column (2) includes year-by-year cohort dummies instead of 5 years-by-5 years cohort dummies that we use in the benchmark regression. Column (3)’s time-varying covariates are all lagged by one period except for TFP growth and the unemployment rate
