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Table 10 Auxiliary estimations

From: Money also is sunny in a retiree’s world: financial incentives and work after retirement

 

Women

Men

Observations

30,784

44,887

      

Censored observations

24,511

35,338

      

Uncensored observations

6273

9549

      

Log likelihood

− 11,791

− 19,581

      

χ2 (9)

7545.47

7300.83

      

Prob > χ2:

0.2424

0.000

      
 

Labour force participation

Log wage

Labour force participation

Log wage

Coef.

SE

Coef.

SE

Constant

1.292**

0.176

− 0.637**

0.201

1.186**

0.0171

− 1.320**

0.211

No degree

Ref.

Ref.

Ref.

Ref.

Ref.

Ref.

Ref.

Ref.

Vocational training

0.227**

0.027

0.231**

0.041

0.378**

0.028

0.231**

0.043

University degree

0.043

0.049

0.351**

0.062

0.149**

0.034

0.566**

0.046

Manufacturing occupations

Ref.

Ref.

Ref.

Ref.

Ref.

Ref.

Ref.

Ref.

Service occupations

0.228**

0.029

0.261**

0.046

0.253**

0.018

0.223**

0.029

Administrative occupations

0.096**

0.028

0.239**

0.037

0.073**

0.018

0.198**

0.023

Acc. labor market gaps until 65 in months

− 0.033**

0.0006

− 0.035**

0.004

− 0.031**

0.0005

− 0.022**

0.002

Pension entitlements (log)

− 0.275**

0.025

  

− 0.494**

0.024

  

Lambda

  

1.205**

0.157

  

0.705**

0.084

Hausman test

 Chi2 (8)

57.73

69.00

 Prob > chi2:

0.0000

0.0000

  1. In both equations, year of employment exit prior to the age of 65 is controlled for. SE: standard error. Data: SIAB 7514
  2. *p < 0.05
  3. **p < 0.01