A new look at technical progress and early retirement

Table 4 Robustness on different measures of technical change

	(1)	(2)	(3)	(4)	(5)
Dep. var.: Retired	Benchmark	5-years	Mean growth	Mean Sect. & Aggr.	VA/workers
TFP growth	0.075***
	(0.010)
TFP growth squared	–0.015***
	(0.002)
TFP growth (last 5 years)		0.126
		(0.078)
TFP growth (last 5 years) sq		–0.186
		(0.187)
Mean TFP growth			5.309***
			(0.674)
Mean TFP growth sq			–36.559***
			(4.636)
Mean sector-specific TFP growth				1.188**
				(0.551)
Mean sector-specific TFP growth sq				–12.756
				(16.159)
Mean aggregate TFP growth				9.052***
				(1.079)
Mean aggregate TFP growth sq				–60.109***
				(7.797)
VA per worker growth					0.034***
					(0.010)
VA per worker growth sq					–0.007***
					(0.002)
Pseudo R-squared	0.239	0.238	0.244	0.249	0.238
Observations	21,856	21,856	21,853	21,853	21,856

Notes: All models have the same specification of column (1) in Table 3 except for the measure of technical change. 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 (3) and column (4) report 21,853 observations because three observations correspond to a nil sector experience. Mean TFP changes are winsorized at the 1-st and 99-th percentiles