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Table 7 Moment matching by education

From: Pension schemes and labor supply in the formal and informal sector

 

Low education

Medium education

High education

 

Formal

Informal

Formal

Informal

Formal

Informal

 

Data

Model

Data

Model

Data

Model

Data

Model

Data

Model

Data

Model

23–28

40.5

26.5

44.9

64.9

60.0

48.1

31.7

41.5

67.5

61.5

0.244

0.319

 

[36.3, 43.6]

 

[40.5, 49.3]

 

[58.6, 61.5]

 

[30.0, 33.2]

 

[63.1, 71.7]

 

[19.7,28.7]

 

29–34

47.9

51.2

43.7

45.2

70.6

69.2

24.1

27.6

88.4

77.8

9.9

21.6

 

[44.3, 50.8]

[40.7, 47.4]

[66.8, 73.2]

[20.5, 28.2]

[84.9, 91.9]

[7.2,11.4]

35–44

59.6

65.1

33.1

31.5

84.7

85.2

12.2

14.5

91.9

85.4

6.9

14.3

 

[57.4, 61.9]

[31.4, 34.9]

[80.2, 88.3]

[8.8, 15.4]

[90.4, 93.2]

[5.5, 8.0]

45–54

57.6

54.4

31.9

34.7

85.9

94.3

11.9

5.4

92.9

90.4

5.5

6.1

 

[50.9, 62.9]

[30.0, 33.8]

[81.2, 89.6]

[0.085, 15.6]

[90.5, 94.7]

[3.8,7.7]

55+

66.2

76.4

25.2

13.9

70.8

87.5

18.8

3.2

95.8

93.3

3.2

3.7

 

[62.1, 69.6]

[22.4, 28.5]

[64.9, 79.3]

[14.7, 23.8]

[93.6, 97.8]

[1.5,5.0]

  1. The interval is estimated by performing bootstraps and considering the middle 90%