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Training and early Retirement

Author

Listed:
  • Montizaan Raymond
  • Coervers Frank
  • Grip Andries de

    (ROA rm)

Abstract

In this paper we analyze how retirement behavior is affected by a worker’s firm-specific or general training history. Using US data from the National Longitudinal Survey of Older Men and controlling for the effects of technological change and workers’ retirement preferences, we find that workers with a firm-specific training history retire earlier than workers with a general training background. This indicates that shared investments in firm-specific training are embedded in upward sloping earning profiles that create productivity-wage differentials for older workers.

Suggested Citation

  • Montizaan Raymond & Coervers Frank & Grip Andries de, 2007. "Training and early Retirement," ROA Research Memorandum 002, Maastricht University, Research Centre for Education and the Labour Market (ROA).
  • Handle: RePEc:unm:umaror:2007002
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    File URL: https://cris.maastrichtuniversity.nl/portal/files/1369857/content
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    References listed on IDEAS

    as
    1. Alan S. Blinder, 1982. "Private Pensions and Public Pensions: Theory and Fact," NBER Working Papers 0902, National Bureau of Economic Research, Inc.
    2. Hashimoto, Masanori, 1981. "Firm-Specific Human Capital as a Shared Investment," American Economic Review, American Economic Association, vol. 71(3), pages 475-482, June.
    3. Johnson, Richard W, 1996. "The Impact of Human Capital Investments on Pension Benefits," Journal of Labor Economics, University of Chicago Press, vol. 14(3), pages 520-554, July.
    4. Bartel, Ann P & Sicherman, Nachum, 1993. "Technological Change and Retirement Decisions of Older Workers," Journal of Labor Economics, University of Chicago Press, vol. 11(1), pages 162-183, January.
    5. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-1284, December.
    6. Edward P. Lazear & Robert L. Moore, 1984. "Incentives, Productivity, and Labor Contracts," The Quarterly Journal of Economics, Oxford University Press, vol. 99(2), pages 275-296.
    7. Smith, Sharon P, 1991. "Ending Mandatory Retirement in the Arts and Sciences," American Economic Review, American Economic Association, vol. 81(2), pages 106-110, May.
    8. Kennan, John, 1979. "Bonding and the enforcement of labor contracts," Economics Letters, Elsevier, vol. 3(1), pages 61-66.
    9. Stevens, Margaret, 1994. "A Theoretical Model of On-the-Job Training with Imperfect Competition," Oxford Economic Papers, Oxford University Press, vol. 46(4), pages 537-562, October.
    10. Orley Ashenfelter & David Card, 2002. "Did the Elimination of Mandatory Retirement Affect Faculty Retirement?," American Economic Review, American Economic Association, vol. 92(4), pages 957-980, September.
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    Cited by:

    1. Raquel Vegas Sánchez & Isabel Argimón & Marta Botella & Clara González, 2013. "Old age pensions and retirement in Spain," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 4(3), pages 273-307, August.
    2. Anna Ruzik-Sierdzinska & Claudia Villosio & Michele Belloni & Maciej Lis & Monika Potoczna, 2013. "Age and productivity. Human Capital Accumulation and Depreciation," CASE Network Reports 0114, CASE-Center for Social and Economic Research.

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    Keywords

    education; training and the labour market;

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