Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/35193
Authors: 
Montizaan, Raymond
Cörvers, Frank
De Grip, Andries
Year of Publication: 
2008
Series/Report no.: 
IZA Discussion Papers 3504
Abstract: 
Several studies show that employees with firm-specific skills are more likely to be covered by employer-sponsored pension schemes than workers with general skills. Therefore it can be expected that workers with firm-specific skills retire earlier. This paper tests this prediction using US data from the National Longitudinal Survey of Older Men. We find that workers who participated in firm-specific training in their early careers retire earlier than workers with a general training background. This indicates that shared investments in firm-specific training are embedded in implicit contracts that induce early retirement. The results remain robust when controlling for technological change and work commitment.
Subjects: 
Retirement
training
deferred compensation
JEL: 
J14
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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