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

IZA Journal of European Labor Studies

Table 6 Logistic regression of moving from unemployment to inactivity for workers receiving old-age benefits in t ₀

Workers receiving old-age benefits in t ₀
	Odds ratio	Standard error	Odds ratio	Standard error
Age (years)
50–54	1		1
55–59	1.747^b	0.268	1.748^b	0.267
60–64	4.094^b	1.342	3.746^b	0.887
>65			3.068^b	1.050
Sex
Males	1		1
Females	1.441^a	0.211	1.460^b	0.198
Δunemployment rate^{− c}	0.827^b	0.040	0.866^b	0.039
Log likelihood	−582.66		−640.32
LR	42.95 (df = 4)		57.99 (df = 5)
p value	0.00		0.00
McFadden’s adj. R ²	0.036		0.043
Sensitivity	45.92%^d		53.02%^e
Specificity	68.46%^d		64.86%^e
Correctly classified	60.41%^d		60.40%^e

The sample comprised individuals aged either 50–59 (females) and 50–64 (males) or workers aged 50+; annual data for the time period 2004–2010. Sample size for the workers aged 50–59 (females) and 50–64 (males)—927 observations; for the workers aged 50+—1010 observations
^asignificant at the 5% level; ^bsignificant at the 1% level
^cRefers to a 1 percentage point change in the negative change in the unemployment rate
^dCut-off level in the classification table 0.3571 (based on the share of the outflow in the whole sample)
^eCut-off level in the classification table 0.3772 (based on the share of the outflow in the whole sample)
Source: authors’ calculations; data sources: LFS