samlet årgang - Økonomisk Institut - Københavns Universitet

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Table 2. Trend adjusted difference-in-differences estimates of the effect of the changes to the VERP policy in 1992 on retirement at age
t conditioned on being in the labour market at age t-1, VERP1 vs. PEP, VERP2 vs. PEP. Pooled probit results based on observations
for 1988, 1989, 1991 and 1993.
60 61 62 63 64 65 66
VERP1 Coef. Marg. eff. Coef. Marg. eff. Coef. Marg. eff. Coef.Marg. eff. Coef.Marg. eff. Coef.Marg. eff. Coef.Marg. eff.
VERP 0.591*** 0.183*** 0.664*** 0.173*** 0.778*** 0.185*** 0.516** 0.140** 0.366 0.099 0.399 0.118 -0.222 -0.069
(0.201) (0.052) (0.239) (0.050) (0.254) (0.047) (0.249) (0.060) (0.263) (0.066) (0.266) (0.074) (0.285) (0.090)
AFTER -0.000 0.000 0.075 0.023 0.236 0.069 0.287 0.087 0.396 0.115 0.459 0.143 -0.703* -0.210*
(0.287) (0.102) (0.310) (0.096) (0.302) (0.087) (0.305) (0.093) (0.307) (0.090) (0.298) (0.092) (0.370) (0.108)
VERP*AFTER 0.047 0.017 -0.131 -0.040 -0.697* -0.192** -0.600* -0.167* -0.472 -0.128 -0.544 -0.159 0.781* 0.254*
(0.302) (0.107) (0.330) (0.100) (0.329) (0.085) (0.345) (0.088) (0.355) (0.089) (0.352) (0.095) (0.444) (0.150)
NATIONALØKONOMISK TIDSSKRIFT 2005. NR. 2
ADJUST 0.471* 0.165* 0.327 0.101 0.198 0.058 0.104 0.031 0.273 0.079 -0.014 -0.004 0.097 0.029
(0.268) (0.092) (0.301) (0.093) (0.323) (0.095) (0.304) (0.092) (0.309) (0.090) (0.350) (0.110) (0.329) (0.099)
VERP*ADJUST -0.367 -0.129 -0.067 -0.021 -0.183 -0.052 -0.023 -0.007 -0.254 -0.071 -0.019 -0.006 0.276 0.086
(0.282) (0.098) (0.319) (0.098) (0.348) (0.098) (0.335) (0.101) (0.353) (0.095) (0.402) (0.125) (0.407) (0.130)
AFTER*ADJUST -0.343 -0.116 0.019 0.006 -0.387 -0.103 -0.453 -0.124 -0.606 -0.150 -0.655 -0.179 0.104 0.032
(0.396) (0.127) (0.422) (0.132) (0.460) (0.111) (0.440) (0.108) (0.454) (0.093) (0.474) (0.109) (0.528) (0.166)
VERP*AFTER* 0.422 0.156 0.169 0.054 0.496 0.160 1.000** 0.352** 1.136** 0.400** 0.690 0.244 -0.052 -0.015
ADJUST (0.415) (0.158) (0.450) (0.149) (0.497) (0.174) (0.492) (0.183) (0.518) (0.192) (0.550) (0.209) (0.620) (0.182)
Number of obs. 2121 1512 1097 880 708 545 428
Continued ...