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Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 3504
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
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.
Schlagwörter: 
Retirement
training
deferred compensation
JEL: 
J14
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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