How unemployment insurance savings accounts affect employment duration: evidence from Chile

IZA Journal of Labor & Development

Table 4 Generalized gamma regressions

Variable	Simple model	Base specification	Final model	Interactions
Variable		*Acceleration parameters*
UISA	-0.247***	-0.162***	-0.467***	-0.567***
- UISA marg. effect				-0.465***
Female		-0.239***	-0.179***	-0.157**
Age		0.010***	0.008***	0.009***
Temp. Contract		-1.305***	-1.203***	-1.080***
Education
- High School		0.146**	0.068	-0.066
- Prof. Formation		0.218**	0.042	-0.125
- Univ. and higher		0.481***	0.141	-0.017
Hours			-0.011***	-0.011***
Income
- 100,000 CLP			0.095	0.133
- 200,000 CLP			0.453**	0.493**
- 300,000 CLP			0.745***	0.772***
> 300,000 CLP			0.901***	0.934***
Household Size			0.026*	0.026*
UISA × Temp. Contract				-0.294**
UISA × High School				0.331***
UISA × Prof. Formation				0.422**
UISA × Univ. and higher				0.398
_const	2.270***	2.919***	3.258***	3.282***
/ln_sig	0.306***	0.221***	0.206***	0.199***
/kappa	-0.897***	-0.371***	-0.235***	-0.191**
sigma	1.358	1.247	1.228	1.220
Log Likelihood	-3,873	-3,575	-3,024	-3,015
AIC	7,754	7,170	6,081	6,070
Wald Test Education		0.000	0.678	0.059
Wald Test Income			0.000	0.000
Employment Exit	1,980	1,976	1,670	1,670
At Risk	66,530	66,484	63,427	63,427
N	2,323	2,319	2,006	2,006

*p < 0.1, **p < 0.05, ***p < 0.01.
(Std. Err. clustered by ID).
Notes: The coefficients reported in Table 4 are expressed as τ _j = exp(-x_jβ_x)t_j and are called the acceleration parameters. If coefficients are negative, they “accelerate” time, so failure is expected to occur sooner; if coefficients are positive, they “decelerate” time, so failure is expected to occur later. If coefficients are equal to zero, then time passes at its “normal” rate (Cleves, Gutierrez, Gould, & Marchenko 2010). Another option are exponentiated coefficients, which are interpreted as time ratios.