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Table 7 Robustness checks: interactions between policy parameters and BC variables: UR

From: Business cycle and spillover effects on pre-retirement behavior in Spain

  Disability Unemployment Inactivity
Year Contributed=15 0.502** 0.0847 −0.0631
  (0.225) (0.081) (0.140)
Year Contributed=15*Post1997 3.383*** 0.181 −0.531
  (1.065) (0.533) (0.574)
15<Year Contributed≤25 0.378*** −0.129** −0.0751
  (0.129) (0.058) (0.069)
15<Year Contributed≤25*Post1997 −0.800*** −0.378 0.238
  (0.284) (0.297) (0.181)
25<Year Contributed<35 0.0412 0.253*** −0.313***
  (0.140) (0.083) (0.0934)
25<Year Contributed<35*Post1997 0.145 −2.002*** 0.786***
  (0.192) (0.270) (0.174)
Year Contributed≥35 0.0606 −0.629*** −0.0066
  (0.131) (0.198) (0.142)
Year Contributed=15*Post1997*UnemRate −0.648*** −0.003 0.00667
  (0.030) (0.028) (0.0256)
15<Year Contributed≤25*Post1997*UnemRate −0.001 0.0044 −0.0129
  (0.0165) (0.013) (0.0079)
25<Year Contributed<35*Post1997*UnemRate −0.0168* 0.0208* −0.0225***
  (0.0101) (0.010) (0.0076)
UnemRateCCAA 0.0036 0.0628*** 0.0522***
  (0.006) (0.006) (0.0053)
UnemRateSector 0.0022 2.184*** −0.0632***
  (0.0095) (0.063) (0.0085)
GDP Growth −0.0471* −0.295*** −0.396***
  (0.027) (0.011) (0.025)
Observations 6,442,191 6,442,191 6,442,191
Log-likelihood −78806.08   
  1. Standard errors in parentheses. *** p<0.01, ** p<0.05, * p<0.1.
  2. Note: We present only selected results for this model. The omitted categories for the dummy variables are laborers without a high-school degree for the education dummies, public administration for the sector of the economy in which the individual works, Madrid for the regional dummies and the cohort of 1935–40.