The chapter is for private use onlyIn this chapter, we first outline how macro-economic developments and
the institutional context have influenced the Hungarian labor market during
the period of economic and social transformation. We describe the main labor
market trends, the changes of retirement policies, and the role of the
educational system. In the following section, we present our hypotheses on
how these macro-economic and institutional changes have influenced the late
careers of Hungarian workers, and its consequences on pension income. Then, we describe the statistical methods used in our analyses. In the
empirical part, we provide estimates from event history models predicting the
risk of unemployment and the likelihood of early exit from the labor force via
normal retirement or disability pension. We also provide estimates from a
linear regression model examining the determinants of pension income. In
our analyses, we use data from the Household Monitor Survey conducted by
the TÁRKI Social Research Center in 2003. This is the most appropriate data
source available, and provides the necessary information for the period
between 1988 and 200
