Job Tenure and Asset Holdings

The paper examines the impact of housing equity and occupational pension scheme membership on job tenure. Using job duration data from the 1985 General Household Survey, appropriate hazard functions are constructed and estimated. Housing equity data is constructed from GHS, with appropriate adjustment for selection on house movers. Housing equity has a negative impact on male job tenure which is more pronounced the longer the job lasts. In contrast, pension scheme membership raises average tenure, in accordance with other studies, but the results show variation according to pension scheme characteristics.