EconPapers    
Economics at your fingertips  
 

Job Exit Behavior of Older Men

James Berkovec and Steven Stern ()

Econometrica, 1991, vol. 59, issue 1, 189-210

Abstract: A dynamic programming model of job exit behavior and retirement is constructed and estimated using the method of simulated moments. The model and estimation method allow for both unobserved individual effects and unobserved job-specific "match" effects. The model is estimated using two different assumptions about individual discount factors. First, a static model, with the discount factor equal to zero, is estimated. Then a dynamic model, with the discount factor equal to .95 is estimated. In both models, it is found that bad health, age, and lack of education increase the probability of retirement. The dynamic model performs better than the static model and has different implications for retirement behavior. The job-specific effects are an important source of unobserved heterogeneity. Copyright 1991 by The Econometric Society.

Date: 1991
References: Add references at CitEc
Citations: View citations in EconPapers (140)

Downloads: (external link)
http://links.jstor.org/sici?sici=0012-9682%2819910 ... O%3B2-Y&origin=repec full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecm:emetrp:v:59:y:1991:i:1:p:189-210

Ordering information: This journal article can be ordered from
https://www.economet ... ordering-back-issues

Access Statistics for this article

Econometrica is currently edited by Guido Imbens

More articles in Econometrica from Econometric Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().

 
Page updated 2025-04-17
Handle: RePEc:ecm:emetrp:v:59:y:1991:i:1:p:189-210