Occupational Pensions, Wages, and Job Mobility in Germany
نویسنده
چکیده
In this paper I examine the effects of occupational pension coverage and measures of pension portability loss on voluntary job changes using a sample selection model with endogenous switching. The model estimates, derived from German panel data for 1995-1998, indicate that occupational pension coverage reduces worker mobility by imposing a capital loss on those leaving their job before retirement age. Moreover, pension-covered workers receive a higher compensation which discourages mobility. Making pensions portable significantly increases mobility, but from a low initial level.
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