Pension choices and job mobility in the UK
Using data from the British Household Panel Survey we analyze the impact of second tier pension schemes on voluntary job mobility within a discrete time hazard rate modelling framework. We find that workers covered by occupational pension plans have significantly lower quit rates, independently of their participation decision. Contrary to common policy suggestions, pension portability losses are not important in explaining quits. However, when we account for occupational pensions' endogeneity through instrumental variables, we find that their negative impact on quit hazards is due to "selection on unobservables".
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Richard Disney & Carl Emmerson, 2002. "Choice of pension scheme and job mobility in Britain," IFS Working Papers W02/09, Institute for Fiscal Studies.
- Sueyoshi, Glenn T, 1995. "A Class of Binary Response Models for Grouped Duration Data," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(4), pages 411-431, Oct.-Dec..
- Ippolito, Richard A, 1985. "The Labor Contract and True Economic Pension Liabilities," American Economic Review, American Economic Association, vol. 75(5), pages 1031-1043, December.
- Henley, Andrew & Disney, Richard & Carruth, Alan, 1994. "Job Tenure and Asset Holdings," Economic Journal, Royal Economic Society, vol. 104(423), pages 338-349, March.
- Jenkins, Stephen P, 1995. "Easy Estimation Methods for Discrete-Time Duration Models," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 57(1), pages 129-138, February.
- Gustman, Alan L. & Steinmeier, Thomas L., 1993.
"Pension portability and labor mobility : Evidence from the survey of income and program participation,"
Journal of Public Economics,
Elsevier, vol. 50(3), pages 299-323, March.
- Alan Gustman & Thomas Steinmeier, 1990. "Pension Portability and Labor Mobility: Evidence From the Survey of Income and Program Participation," NBER Working Papers 3525, National Bureau of Economic Research, Inc.
- 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.
- Steven G. Allen & Robert L. Clark & Ann A. McDermed, 1993. "Pensions, Bonding, and Lifetime Jobs," Journal of Human Resources, University of Wisconsin Press, vol. 28(3), pages 463-481.
- Narendranathan, W. & Stewart, M.B., 1989. "Modelling The Probability Of Leaving Unemployment: Competing Risks Models With Flexible Baseline Hazards," The Warwick Economics Research Paper Series (TWERPS) 331, University of Warwick, Department of Economics.
- Richard A. Ippolito, 1991. "Encouraging Long-Term Tenure: Wage Tilt or Pensions?," ILR Review, Cornell University, ILR School, vol. 44(3), pages 520-535, April.
- Mealli, Fabrizia & Pudney, Stephen, 1996. "Occupational Pensions and Job Mobility in Britain: Estimation of a Random-Effects Competing Risks Model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(3), pages 293-320, May-June.
- Mallar, Charles D, 1977. "The Estimation of Simultaneous Probability Models," Econometrica, Econometric Society, vol. 45(7), pages 1717-1722, October.
- J.D. Angrist & Guido W. Imbens & D.B. Rubin, 1993. "Identification of Causal Effects Using Instrumental Variables," NBER Technical Working Papers 0136, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:cte:werepe:we043713. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ana Poveda)
If references are entirely missing, you can add them using this form.