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Table 1 Balancing Tests, Matching Retirees with Non-Retirees, Best Possible Life Outcome

From: Employment, late-life work, retirement, and well-being in Europe and the United States

Control group: voluntary part-time workers

 

Treatment

Control

Standardized bias

t-stat

p-value

Age

63.417

63.619

-1.600

-0.190

0.852

Female (1=Yes)

0.669

0.655

3.000

0.250

0.801

Married (1=Yes)

0.655

0.748

-19.200

-1.710

0.089

Married and gender interaction

0.439

0.460

-4.500

-0.360

0.719

High school education or higher (1=Yes)

0.216

0.237

-5.100

-0.430

0.669

Religion important (1=Yes)

0.554

0.547

1.500

0.120

0.904

Country and year group

19.129

19.129

0.000

0.000

1.000

Average bias

 

Before

44.503

  
  

After

4.983

  

Control group: full-time employees

 

Treatment

Control

Standardized bias

t-stat

p-value

Age

56.796

57.022

-2.200

-0.290

0.768

Female (1=Yes)

0.597

0.571

5.400

0.570

0.568

Married (1=Yes)

0.677

0.708

-6.300

-0.710

0.477

Married and gender interaction

0.354

0.341

2.900

0.300

0.768

High school education or higher (1=Yes)

0.181

0.190

-2.100

-0.240

0.809

Religion important (1=Yes)

0.558

0.504

10.800

1.130

0.259

Country and year group

20.664

20.664

0.000

0.000

1.000

Average bias

 

Before

55.708

  
  

After

4.247

  

Control group: self-employed

 

Treatment

Control

Standardized bias

t-stat

p-value

Age

59.438

59.705

-2.400

-0.210

0.832

Female (1=Yes)

0.375

0.375

0.000

0.000

1.000

Married (1=Yes)

0.616

0.705

-18.600

-1.410

0.160

Married and Gender Interaction

0.143

0.232

-20.500

-1.720

0.088

High School Education or Higher (1=Yes)

0.152

0.152

0.000

0.000

1.000

Religion Important (1=Yes)

0.741

0.688

10.800

0.880

0.377

Country and Year Group

24.071

24.071

0.000

0.000

1.000

Average bias

 

Before

51.645

  
  

After

7.477

  

Control group: involuntary part-time workers

 

Treatment

Control

Standardized bias

t-stat

p-value

Age

61.274

61.613

-2.800

-0.180

0.854

Female (1=Yes)

0.565

0.548

3.300

0.180

0.858

Married (1=Yes)

0.710

0.677

6.500

0.390

0.700

Married and gender interaction

0.323

0.290

7.000

0.390

0.700

High school education or higher (1=Yes)

0.177

0.210

-8.100

-0.450

0.653

Religion important (1=Yes)

0.629

0.581

9.800

0.550

0.585

Country and year group

16.355

16.355

0.000

0.000

1.000

Average bias

 

Before

46.738

  
  

After

5.344

  
  1. Source: Gallup World Poll, 2009-2010.
  2. Notes: Summary of results from caliper propensity score matching. The treatment group is the group of retirees. The control group is the voluntary part-time workers in the top panel, followed by the full-time employees, the self-employed, and the part-time workers in the bottom panel. Covariates used for matching (and satisfying the balancing property) are: age, gender, whether the respondent is married, an interaction term for marriage and gender, whether the respondent has at least high school education, whether religion is important in the respondent's life, country, and year.