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Career Earnings And Retention Of U.S. Military Physicians

Listed author(s):
  • Bradley M. Gray
  • James E. Grefer
Registered author(s):

    Military physicians consider potential career earnings when making their stay/leave decisions. Moreover, they consider the effects of differences between military and civilian compensation at three distinct decision periods in the military career: the first year of unobligated service, the years after that point but before military retirement eligibility, and the year of retirement eligibility. We find that military retention is highly sensitive to compensation differences at the first decision and substantially less sensitive after that. We also account for endogeneity of military physician pay and retention with an instrumental variable technique, without which, estimates substantially underestimate the wage effect.

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    Article provided by Taylor & Francis Journals in its journal Defence and Peace Economics.

    Volume (Year): 23 (2012)
    Issue (Month): 1 (February)
    Pages: 51-76

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    Handle: RePEc:taf:defpea:v:23:y:2012:i:1:p:51-76
    DOI: 10.1080/10242694.2011.562371
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    1. Blundell, Richard & Macurdy, Thomas, 1999. "Labor supply: A review of alternative approaches," Handbook of Labor Economics,in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 27, pages 1559-1695 Elsevier.
    2. Saul Pleeter & John T. Warner, 2001. "The Personal Discount Rate: Evidence from Military Downsizing Programs," American Economic Review, American Economic Association, vol. 91(1), pages 33-53, March.
    3. Glenn A. Gotz & John J. McCall, 1983. "Sequential Analysis of the Stay/Leave Decision: U.S. Air Force Officers," Management Science, INFORMS, vol. 29(3), pages 335-351, March.
    4. Warner, John T., 1995. "The economics of military manpower," Handbook of Defense Economics,in: Keith Hartley & Todd Sandler (ed.), Handbook of Defense Economics, edition 1, volume 1, chapter 13, pages 347-398 Elsevier.
    5. Alfonso Miranda & Sophia Rabe-Hesketh, 2006. "Maximum likelihood estimation of endogenous switching and sample selection models for binary, ordinal, and count variables," Stata Journal, StataCorp LP, vol. 6(3), pages 285-308, September.
    6. Warner, John T & Goldberg, Matthew S, 1984. "The Influence of Non-Pecuniary Factors on Labor Supply: The Case of Navy Enlisted Personnel," The Review of Economics and Statistics, MIT Press, vol. 66(1), pages 26-35, February.
    7. Daula, Thomas & Moffitt, Robert, 1995. "Estimating Dynamic Models of Quit Behavior: The Case of Military Reenlistment," Journal of Labor Economics, University of Chicago Press, vol. 13(3), pages 499-523, July.
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