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Table 7 Estimates of the intended retirement age by occupation, with technical change at the industry-occupation level

From: Retirement intentions in the presence of technological change: theory and evidence from France

  Managers Other occupations
Variables (1) (2) (3) (4)
Aggregated variables for workers aged 24-49 years     
Average probability of skill updating (T1) -0.732 -0.625 -0.034 -0.562
  (1.125) (0.920) (0.758) (0.639)
Average probability of a technical change (T2) -2.951 -3.250** -1.048*** -1.204***
  (1.963) (1.618) (0.254) (0.255)
Interaction term (T1T2) 7.643* 8.961*** 0.904 2.085
  (4.466) (3.680) (1.612) (1.392)
Control variables YES YES YES YES
Occupation fixed effects NO NO NO NO
Industry fixed effects NO NO NO NO
Observations 224 224 935 935
Log pseudolikelihood -183.59   -782.91  
Pseudo R2 0.0993 0.225 0.124 0.255
  1. Note: (1) and (3) are estimates from ordered Probit model, the dependent variable being equal to 1 when the respondent intends to leave the labor market before 60, 2 when his intended exit age ranges from 60 to 64, and 3 if he intends to leave the labor market at 65 or after. Standard errors (in parentheses) are clustered at the industry-occupation level, significance levels being 1% (***), 5% (**) and 10% (*). (2) and (4) are estimates from an OLS regression on the latent outcome associated with retirement intention. The latent variable has been obtained using simulated residuals. The other control variables are those used in the regressions reported in Table 5.
  2. Source: COI (2006)/INSEE-DARES-CEE, TWR survey (2006), French Labour Force Survey 2006.