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Title:Training background and early retirement PDF Logo
Authors:Montizaan, Raymond
Cörvers, Frank
De Grip, Andries
Issue Date: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:urn:nbn:de:101:1-20080527249
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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