Question: Use the data in FRINGE.RAW for this exercise. For what percentage of the workers in the sample is a pension equal to zero? What is

  • Use the data in FRINGE.RAW for this exercise.
  • For what percentage of the workers in the sample is a pension equal to zero? What is the range of pensions for workers with nonzero pension benefits? Why is a Tobit model appropriate for modeling pension?
  • Estimate a Tobit model explaining pension in terms of exper, age, tenure, Educ, depends, married, white, and male.
  • Do whites and males have statistically significantly higher expected pension benefits?
  • Add union to the Tobit model and comment on its significance.
  • Does gender or race have an effect on the pension-earnings ratio?

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