@TechReport{iza:izadps:dp3069,
            	author={Tatsiramos, Konstantinos},
            	title={The Effect of Job Displacement on the Transitions to Employment and Early Retirement for Older Workers in Four European Countries},
            	year={2007},
	month={Sep},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={3069},
            	url={https://www.iza.org/publications/dp3069},
	abstract={Despite the increased frequency of job loss for older workers in Europe, little is known on its effect on the work-retirement decision. Employing individual data from the European Community Household Panel for Germany, Italy, Spain, and the U.K., a multivariate competing-risks hazard model is estimated in which the effect of job displacement is identified separately for transitions into re-employment and retirement. The findings suggest that in countries with institutional provisions for older unemployed which offer a pathway to early retirement such as, Germany and Spain, older displaced workers exhibit lower re-employment and higher retirement rates compared to the non-displaced. These results are robust to dynamic selection due to unobserved heterogeneity and to the endogeneity of displacement.},
	keywords={job displacement;job loss;unemployment duration;retirement;competing risks},
            }