IZA Journal of European Labor Studies

Table 4 Results of the threshold cointegration tests for the female participation rate equation

From: The impact of easy and early access to old-age benefits on exits from the labour market: a macro-micro analysis

Female participation rate (45+)
Parameter, hypotheses	Pattern of adjustment
Parameter, hypotheses	TAR		M-TAR
τ	0	−0.0097	0	−0.0024
ρ ₁ (above threshold)	−0.185	−0.086	−0.007	0.005
ρ ₁ (above threshold)	(0.147)	(0.114)	(0.123)	(0.096)
ρ ₂ (below threshold)	−0.116	−0.359	−0.386^b	−0.813^c
ρ ₂ (below threshold)	(0.133)	(0.214)	(0.161)	(0.201)
ρ ₁ = ρ ₂	0.130	1.257	3.491^a	13.461^b
t-Max value	−0.874	−0.757	−0.058	0.048
ρ ₁ = ρ ₂ = 0	1.110	1.706	2.886	8.152^a

Standard errors reported in parentheses
^aSignificant at the 10% level; ^bsignificant at the 5% level; ^csignificant at the 1% level
Source: authors’ calculation; data sources: LFS and Central Statistical Office Poland

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