Download The Dynamic Retention Model for Air Force Officers: New by Michael Mattock, Jeremy Arkes PDF
By Michael Mattock, Jeremy Arkes
The U.S. Air strength (USAF) wishes actual types to improve retention regulations that make sure the strength has a enough variety of skilled officials to fulfill necessities. not like the annualized price of leaving (ACOL) version, the dynamic retention version (DRM) can be utilized take into consideration the retention impact of the supply of multi-year contracts reminiscent of the Aviator Continuation Pay (ACP) application to yes sessions of USAF officials.
Read Online or Download The Dynamic Retention Model for Air Force Officers: New Estimates and Policy Simulations of the Aviator Continuation Pay Program PDF
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Additional info for The Dynamic Retention Model for Air Force Officers: New Estimates and Policy Simulations of the Aviator Continuation Pay Program
Sample text
We took this approach because the parameter beta is only weakly identified in the model, and we found that attempting to estimate beta along with the other parameter values resulted in a large increase in computation time while the estimated betas varied little from the assumed starting values. 90. The estimates reported for pilots assume that the civilian pilot wage corresponds either to the 90th percentile of all wages observed or to the 50th percentile of all pilot wages observed in the civilian population.
The shock distribution is assumed to be normal with mean zero. We also estimate the parameters of the taste distribution, which we assume to be extreme value distributed, as in the original Gotz-McCall model. 1 provides an example of observed and predicted cumulative retention rates for pilots. It shows a close fit between the observed retention rates and those estimated by the model. The observed retention rates were computed using Kaplan-Meier and are depicted by the circles. 1 The step-function shows the predicted retention rate given by the maximum likelihood model estimates.
90. The estimates reported for pilots assume that the civilian pilot wage corresponds either to the 90th percentile of all wages observed or to the 50th percentile of all pilot wages observed in the civilian population. While the differing assumptions result in different estimates for the taste distribution, the differing parameter estimates had little impact on model fit or on the corresponding simulations. The estimates reported for mission support officers assume that the civilian wage corresponds to the 50th percentile of all wages observed in the civilian population of full-time workers.