Bridge Employment: A Skill- and Occupation-Biased Retirement Trend?
*Names in bold indicate Presenter
Data is drawn from the public and restricted portions of the Health and Retirement Study (HRS), a panel data that contains information of aging workers in the United States from 1992 to 2012. In this study, analyses have been conducted based on a multinomial logistic regression model that assumes and treats time-invariant heterogeneity among the HRS survey participants. The preliminary result suggests that workers with strong expertise and white-collar jobs are more likely to secure bridge jobs than their counterparts. Moreover, such workers are to be more prone to finding bridge jobs within the industries in which they originally belonged—while others seem to be pressured to secure jobs that are outside their original industries and are thus irrelevant to their skillsets. Such dynamics are expected to hold valid even after controlling for covariates such as workers’ demographics, health, pension, social security income, family structure, etc. The results from the said model will be compared to those of another model that is designed to resolve time-variant endogeneity—stemming from workers’ possible self-selection of jobs—using appropriate instruments in a panel IV model. Lastly, in an attempt to identify a causal element that facilitates such occupation- and skill-biased retirement trends, I will conclude this study by discussing a possibility of technology and innovation’s playing major roles.