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Evaluating Pension Portability Reforms. The Tax Reform Act Of 1986 As A Natural Experiment

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  • Vincenzo Andrietti

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  • Vincent Hildebrand

    ()

Abstract

This paper uses the Tax Reform Act of 1986 (TRA86) as a natural experiment to evaluate the job mobility response of prime aged US employees participating into employer sponsored defined benefit (DB) pension plans to a reduction in the vesting period for pension rights accrual. The repeated panel data design of the Survey of Income and Program Participation (SIPP) allows us to implement a "difference-in-difference" identification strategy using data from pre and post-reform periods. The effect of the policy change is identified as the difference between the change in predicted voluntary job mobility of the treated group and the change in predicted voluntary job mobility of the control group, over the period under study. We find that the reform had no significant effects on voluntary job mobility of the treated group. Our findings are robust to the use of different control groups and different pre/post reform samples.

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Bibliographic Info

Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we045220.

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Date of creation: Oct 2004
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Handle: RePEc:cte:werepe:we045220

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  1. James Heckman & Hidehiko Ichimura & Jeffrey Smith & Petra Todd, 1998. "Characterizing Selection Bias Using Experimental Data," NBER Working Papers 6699, National Bureau of Economic Research, Inc.
  2. Jeffrey Smith & Petra Todd, 2003. "Does Matching Overcome Lalonde's Critique of Nonexperimental Estimators?," University of Western Ontario, CIBC Centre for Human Capital and Productivity Working Papers 20035, University of Western Ontario, CIBC Centre for Human Capital and Productivity.
  3. Vincenzo Andrietti & Vincent Hildebrand, 2001. "Pension Portability and Labour Mobility in the United States. New Evidence from SIPP Data," Social and Economic Dimensions of an Aging Population Research Papers 42, McMaster University.
  4. Bruce D. Meyer, 1994. "Natural and Quasi- Experiments in Economics," NBER Technical Working Papers 0170, National Bureau of Economic Research, Inc.
  5. Heckman, James J & Ichimura, Hidehiko & Todd, Petra E, 1997. "Matching as an Econometric Evaluation Estimator: Evidence from Evaluating a Job Training Programme," Review of Economic Studies, Wiley Blackwell, vol. 64(4), pages 605-54, October.
  6. Brigitte C. Madrian, 1993. "Employment-Based Health Insurance and Job Mobility: Is There Evidence ofJob-Lock?," NBER Working Papers 4476, National Bureau of Economic Research, Inc.
  7. Steven G. Allen & Robert L. Clark & Ann A. McDermed, 1988. "Why Do Pensions Reduce Mobility?," NBER Working Papers 2509, National Bureau of Economic Research, Inc.
  8. Vincenzo Andrietti & Vincent Hildebrand, 2001. "Pension Portability and Labour Mobility in the United States. New Evidence from the SIPP Data," CeRP Working Papers 10, Center for Research on Pensions and Welfare Policies, Turin (Italy).
  9. Richard Blundell & Monica Costa Dias, 2000. "Evaluation methods for non-experimental data," Fiscal Studies, Institute for Fiscal Studies, vol. 21(4), pages 427-468, January.
  10. Thomas C. Buchmueller & Robert G. Valletta, 1996. "The effects of employer-provided health insurance on worker mobility," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 49(3), pages 439-455, April.
  11. Laurence J. Kotlikoff & David A. Wise, 1985. "Labor Compensation and the Structure of Private Pension Plans: Evidence for Contractual versus Spot Labor Markets," NBER Chapters, in: Pensions, Labor, and Individual Choice, pages 55-88 National Bureau of Economic Research, Inc.
  12. Steven G. Allen & Robert L. Clark & Ann A. McDermed, 1991. "Pensions, Bonding, and Lifetime Jobs," NBER Working Papers 3688, National Bureau of Economic Research, Inc.
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