This is the program for the 2010 Joint Statistical Meetings in Vancouver, British Columbia.
Abstract Details
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Activity Number:
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579
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Type:
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Topic Contributed
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Date/Time:
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Wednesday, August 4, 2010 : 2:00 PM to 3:50 PM
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Sponsor:
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Business and Economic Statistics Section
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| Abstract - #306831 |
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Title:
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Estimating a Dynamic Discrete Choice on Teachers' Retirement Decision
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Author(s):
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Michael Podgursky *+ and Shawn Ni+
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Companies:
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University of Missouri
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Address:
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118 Porfessional Building , Columbia, MO, 65211, 118 Professional Building , Columbia , MO, 65211,
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Keywords:
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pension wealth ;
discrete choice ;
MLE
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Abstract:
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This paper contributes to the literature on pensions and retirement behavior by using a unique longitudinal state data set linking longitudinal teacher records to state pension data to estimate a dynamic discrete choice model of teacher retirement behavior. In the model, in each period upon receiving new information that affects her preferences, a teacher weighs the tradeoff between leisure and a retirement annuity or further work and a salary. We estimate the underlying parameters of the teacher's utility and unobserved heterogeneity using maximum likelihood methods. Using these estimated parameters it is possible to conduct policy simulations of changes in pension plan rules on teacher turnover and school staffing.
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The address information is for the authors that have a + after their name.
Authors who are presenting talks have a * after their name.
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