working paper 04 36 economics series 12 june 2004 departamento de economÃa universidad carlos iii madrid calle 126 28903 getafe spain fax 34 91 624 98 75 occupationa pensions wages and tenure wage profiles vincenzo andrietti 1 eleonora patacchini 2 abstract ______________________________________________________________________________ using data from the bhps we estimate impact of occupational on profile male private sector workers in uk according to theoretical literature participants should receive a premium at beginning their careers when financial quit disincentives stemming defined benefit plans are less binding our empirical evidence is consistent with this prediction find that pension earn positive only career once account for endogenous sorting individuals into schemes magnitude estimated decreases sharply it looses statistical significance indeed appears be completely explained by unobservable individual job match heterogeneity jel classification c23 c29 j24 j31 key words employer instrumental variables panel acknowledgements authors wish thank michele pellizzari
