%0 Report
        %A Tatsiramos, Konstantinos
        %T The Effect of Job Displacement on the Transitions to Employment and Early Retirement for Older Workers in Four European Countries
        %D 2007
        %8 2007 Sep
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 3069
        %U https://www.iza.org/publications/dp3069
        %X 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.
        %K job displacement
%K job loss
%K unemployment duration
%K retirement
%K competing risks