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The fourth chapter looks at the growth in the long run and analyzes the interplay between technical change and demographic transitions, and explores the issue of transitions between different growth regimes.
Third, we explore the structure of the relation between technical change and early retirement.
We find that the relationship between technical change and early retirement is stronger in manufacturing and public administration.
The benchmark specification in columns (1) and (2) yields a statistically significant dependence between technical change and early retirement.
In Appendix B: Table 6 we explore the shape of the relation between technical change and early retirement.
In Appendix B: Table 6 we approximate the relation between technical change and early retirement with higher and lower order polynomials.
Similar(49)
Moreover, we present extensive evidence that the relation between the technical change and the probability to retire early is non-linear.
A distinction is made between exogenous and endogenous technical change, and it is shown how, because of model structure and the origin of key parameters, such models naturally include shifts in production process that reflect some degree of endogenous technical change.
In this case the correlation between our measure of technical change and the sector experience is arguably lower.
The decision to enter the labor market in a certain year may be driven by an unobserved individual characteristic that drives also the exit decision, thus inducing a spurious correlation between our measure of technical change and early retirement.
The welfare change accruing to China and the TPP region is due to the policy shock in the form of tariff liberalization between the TPP members, input augmenting technical change and the reduction in trade cost within the TPP region.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com