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Table 2 Summary statistics

From: A new look at technical progress and early retirement

Variable Mean Std. Dev. Min. Max.
Retired (d) 0.120 0.325 0 1
TFP change 1.884 0.664 –0.468 4.086
Age 57.440 3.694 50 64
Years of education 12.923 3.201 0 17
Health level 2.464 1.049 1 5
Birth year 1941.4 6.051 1927 1960
Race: Black (d) 0.122 0.328 0 1
Race: Hispanic (d) 0.103 0.304 0 1
Foreign born (d) 0.109 0.312 0 1
Married (d) 0.828 0.377 0 1
Spouse working (d) 0.529 0.499 0 1
Private health insurance (d) 0.796 0.403 0 1
Government health insurance (d) 0.066 0.249 0 1
Net wealth (deflated, in $100,000s) 0.040 0.066 –0.045 2.548
Pension plan or pension income (d) 0.599 0.490 0 1
Sector experience 36.989 8.379 0 51
Training (d) 0.155 0.362 0 1
Residence: Midwest (d) 0.259 0.438 0 1
Residence: South (d) 0.402 0.490 0 1
Residence: West (d) 0.182 0.386 0 1
Occupation: Managers and professionals (d) 0.336 0.472 0 1
Occupation: Clerical and sales (d) 0.142 0.349 0 1
Occupation: Services (d) 0.066 0.249 0 1
Occupation: Farming, forestry, and fishing (d) 0.043 0.202 0 1
Occupation: Mechanics, constructors, operators (d) 0.395 0.489 0 1
Occupation: Armed forces (d) 0.019 0.136 0 1
Sector: Agriculture, forestry, fishing (d) 0.043 0.203 0 1
Sector: Mining and Construction (d) 0.109 0.312 0 1
Sector: Manufacturing Non-durable (d) 0.090 0.286 0 1
Sector: Manufacturing Durable (d) 0.168 0.374 0 1
Sector: Transportation (d) 0.105 0.307 0 1
Sector: Wholesale (d) 0.053 0.225 0 1
Sector: Retail (d) 0.081 0.272 0 1
Sector: Finance, Insurance, and Real Estate (d) 0.049 0.215 0 1
Sector: Business and Repair Services (d) 0.055 0.228 0 1
Sector: Personal services (d) 0.017 0.129 0 1
Sector: Entertainment and recreation (d) 0.009 0.096 0 1
Sector: Professional and related services (d) 0.144 0.351 0 1
Sector: Public Administration (d) 0.077 0.267 0 1
TFP change (last 5 years) 0.134 0.125 –0.126 0.602
Mean TFP change 0.051 0.018 0.005 0.136
Mean aggregate TFP change 0.050 0.012 0.009 0.137
Mean sector-specific TFP change 0.001 0.013 –0.021 0.035
Value added per worker change 1.153 1.375 –0.48 6.591
  1. Notes: All variables have 21,856 non-missing observations, except for the mean TFP changes that have 21,853 observations. Mean TFP changes are winsorized at the 1-st and 99-th percentiles