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Table 3 Benchmark regressions

From: A new look at technical progress and early retirement

  (1) (2) (3) (4) (5)
Dep. var.: Retired Logit OLS Random efx Fixed efx Survival
TFP growth 0.075*** 0.091*** 0.122*** 0.464*** 0.059***
  (0.010) (0.011) (0.026) (0.097) (0.009)
TFP growth squared –0.015*** –0.019*** –0.029*** –0.033* –0.013***
  (0.002) (0.003) (0.008) (0.017) (0.002)
Married (d) 0.009** 0.017*** 0.026*** 0.014 0.007*
  (0.004) (0.006) (0.007) (0.011) (0.004)
Spouse working (d) –0.042*** –0.057*** –0.065*** –0.106*** –0.037***
  (0.004) (0.005) (0.006) (0.009) (0.004)
Emp. health ins. (d) –0.001 0.002 –0.038*** –0.092*** –0.000
  (0.005) (0.008) (0.012) (0.021) (0.004)
Gov. health ins. (d) 0.127*** 0.185*** 0.175*** 0.195*** 0.103***
  (0.013) (0.016) (0.028) (0.033) (0.010)
Wealth 0.062 0.061 0.073 0.258 0.048
  (0.023) (0.035) (0.070) (0.111) (0.020)
Pension (d) –0.079 –0.098 –0.159 –0.210 –0.070
  (0.009) (0.011) (0.022) (0.022) (0.008)
Very good health (d) 0.014 0.014 0.006 0.013 0.014
  (0.005) (0.005) (0.004) (0.005) (0.005)
Good health (d) 0.026 0.027 0.016 0.031 0.025
  (0.005) (0.005) (0.006) (0.010) (0.005)
Fair health (d) 0.076 0.082 0.069 0.087 0.066
  (0.010) (0.008) (0.007) (0.012) (0.009)
Poor health (d) 0.279 0.274 0.250 0.258 0.213
  (0.026) (0.016) (0.015) (0.020) (0.024)
(Pseudo) R-squared (0.239) 0.191 0.183 0.558  
Within    0.284   
Between    0.162   
Observations 21,856 21,856 21,856 21,856 21,856
  1. Notes: All models except column (4) 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. The symbol (d) indicates discrete change of dummy variable from 0 to 1. 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 (at the sector level in Model (3) with random effects and Model (4) with fixed effects). Column (1) and column (5) report the marginal effects of logit and complementary log-log regressions. The individual fixed effects of column (4) replace all time-invariant dummies and impose the exclusion of the age dummies because of the collinearity with sector experience