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...s modelled as a cubic polynomial. For the given hazard rate described above, the individual worker’s likelihood contribution has the same form as the likelihood of a standard multinomial logit model (=-=Allison, 1982-=-). m 3 3 cti m t−1 m 0 1−∑cti 0 m= 1 i ∏ ⎡ it ⎣ ⎤ it ⎦ ∏ i m= 1 τ = 1 ⎡ ⎤ ⎡ ⎤ L = ⎢ h ⎥ h ⎢ hτ ⎥ ⎣ ⎦ ⎣ ⎦ (Equation 10) where m c it is a destination-specific censoring indicator which equals 1 if work...

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...l effects of the economic conditions on individual’s behaviour. The effects of labour market institutions on labour market transitions at advanced ages have been widely studied in the literature (see =-=Gruber and Wise, 1999-=-, for a crosscountry comparison). In the case of Spain, Boldrin et al. (1999, 2004) show the strong incentives to retire early provided by the Spanish Social Security legislation for individuals with ...

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...ity completely disables the individual for any kind of job is totally unfounded and some effort should be made in order to analyze how their abilities can be matched with labour market opportunities (=-=OECD, 2003-=-). For these reasons, the possibility of increasing the number of disabled people that work is regarded as a good way to decrease the pressures on the financial stability of the social security system...

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...an attempt to reduce the generosity of these systems. For a description and revision of the main changes implemented in OECD countries, refer to OECD, 2009. 4 See, for example, Börsch-Supan, 1998 and =-=Autor and Duggan, 2003-=-. More detailed information on the literature on the topic is given in the literature review of chapter 4. 19claimants who are, as a result of their lack of skills and of the labour market conditions...

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... (as the average employment rate for this sample is 12.5 percent). We believe that these results are very much in line with the findings from previous research on this subject (specially results from =-=Gruber, 2000-=-) and claim that, considering the features of the Spanish system in terms of the benefit not being contingent on working status, the observed impacts of DI on employment may be mainly due to an income...

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...es and only 70 percent of the mean in the United States (OECD 2009). This is despite a very substantial documented increase in disability insurance (DI) availability and generosity in recent decades (=-=Autor and Duggan, 2006-=-; OECD, 2003). The cost of expanding this protection program has so far been outweighed by the sustained economic growth of the past twenty years 54 . With the fallouts of the financial crisis on gove...

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...ve access to a Trial Work Period in which, for 5 years, they can accumulate up to nine months of work above the SGA. If they earn more than the SGA for more than nine months, benefits are terminated (=-=Maestas and Yin, 2008-=-). 99stage of the eligibility process and case workers use a grid of individual characteristics of the disabled worker such as age, education and past work experience in order to determine “the indiv...

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...n. 23determinants, employer, firm and industry characteristics or business cycle conditions to incentives embedded in the Social Security institutions (See for example Garcia-Perez et al.2007, 2008, =-=Blanco 2000-=-). It is important to understand the incentives to withdraw from the labour force provided by each of these factors in order to devise effective labour market policy reforms. Therefore, our aim in thi...

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...the sickness and disability systems a few years ago in an attempt to reduce the generosity of these systems. For a description and revision of the main changes implemented in OECD countries, refer to =-=OECD, 2009-=-. 4 See, for example, Börsch-Supan, 1998 and Autor and Duggan, 2003. More detailed information on the literature on the topic is given in the literature review of chapter 4. 19claimants who are, as a...

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... a Trial Work Period in which, for 5 years, they can accumulate up to nine months of work above the SGA. If they earn more than the SGA for more than nine months, benefits are terminated (Maestas and =-=Yin, 2008-=-). 99stage of the eligibility process and case workers use a grid of individual characteristics of the disabled worker such as age, education and past work experience in order to determine “the indiv...

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...es the existence of any shift in the trend of employment in the women relative to the men sample following the policy change but introducing controls to condition on any preexisting trends (following =-=Autor and Duggan, 2008-=-). Furthermore, in order to take into account the availability of both partial and total disability benefits in Spain and the interactions that this could have with employment 123prospects, we estima...

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...aining the rise in women’s participation rates as younger cohorts of women tend to have more liberal social norms with respect to paid employment and to face more favorable child care facilities (see =-=Vendrik and Cörvers, 2009-=-; Balleer et al. 2009 and Euwals et al. 2007). 28Figure 3 Unemployment and labour force participation for men aged 45-59 in Spain, from 1987-2007 10 . Unemployment & Labour Force Participation Men 45...