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Health Shocks and the Hazard Rate of Early Retirement in the ECHP

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  • Ronald Hagan
  • Andrew M. Jones
  • Nigel Rice

Abstract

In this paper we use discrete-time proportional hazard models with internationally comparable longitudinal data from the full eight waves of the European Community Household Panel (ECHP) to study the relationship between retirement, health levels and health shocks in nine European countries. The results show a consistency of effect with only small variation in magnitude both for latent health stock variables as well as the subjective SAH measures. This is compatible with previous findings that declining health is associated with an increased probability of retirement. Additionally a three-level graduated acute health shock variable was created, that shows evidence of a gradient in the effect.

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Bibliographic Info

Article provided by Swiss Society of Economics and Statistics (SSES) in its journal Swiss Journal of Economics and Statistics.

Volume (Year): 144 (2008)
Issue (Month): III (September)
Pages: 323-335

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Handle: RePEc:ses:arsjes:2008-iii-3

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Related research

Keywords: Retirement; Health; ECHP; European Union;

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References

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  1. Currie, Janet & Madrian, Brigitte C., 1999. "Health, health insurance and the labor market," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 50, pages 3309-3416 Elsevier.
  2. Cheti Nicoletti & Franco Peracchi, 2005. "Survey response and survey characteristics: microlevel evidence from the European Community Household Panel," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 168(4), pages 763-781.
  3. Hernández-Quevedo, Cristina & Jones, Andrew M. & López-Nicolás, Angel & Rice, Nigel, 2006. "Socioeconomic inequalities in health: A comparative longitudinal analysis using the European Community Household Panel," Social Science & Medicine, Elsevier, vol. 63(5), pages 1246-1261, September.
  4. Ronald Hagan & Andrew M. Jones & Nigel Rice, 2006. "Health and retirement in Europe," Health, Econometrics and Data Group (HEDG) Working Papers 06/10, HEDG, c/o Department of Economics, University of York.
  5. Romain Duval, 2003. "Retirement Behaviour in OECD Countries: Impact of Old-Age Pension Schemes and other Social Transfer Programmes," OECD Economic Studies, OECD Publishing, vol. 2003(2), pages 7-50.
  6. Franco Peracchi, 2002. "The European Community Household Panel: A review," Empirical Economics, Springer, vol. 27(1), pages 63-90.
  7. Andrew M. Jones & Xander Koolman & Nigel Rice, 2006. "Health-related non-response in the British Household Panel Survey and European Community Household Panel: using inverse-probability-weighted estimators in non-linear models," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 169(3), pages 543-569.
  8. Riphahn, Regina T., 1998. "Income and Employment Effects of Health Shocks - A Test Case for the German Welfare State," IZA Discussion Papers 10, Institute for the Study of Labor (IZA).
  9. Bound, John & Schoenbaum, Michael & Stinebrickner, Todd R. & Waidmann, Timothy, 1999. "The dynamic effects of health on the labor force transitions of older workers," Labour Economics, Elsevier, vol. 6(2), pages 179-202, June.
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Citations

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Cited by:
  1. Antonella D’Agostino & Andrea Regoli, 2013. "Life Conditions and Opportunities of Young Adults: Evidence from Italy in European Comparative Perspective," Social Indicators Research, Springer, vol. 113(3), pages 1205-1235, September.
  2. Pilar Garcia-Gomez & Hans van Kippersluis & Owen O'Donnell & Eddy van Doorslaer, 2011. "Effects of Health on Own and Spousal Employment and Income using Acute Hospital Admissions," Tinbergen Institute Discussion Papers 11-143/2, Tinbergen Institute.
  3. Brit S. Schneider & Udo Schneider, 2009. "Determinants and Consequences of Health Behaviour: New Evidence from German Micro Data," SOEPpapers on Multidisciplinary Panel Data Research 253, DIW Berlin, The German Socio-Economic Panel (SOEP).
  4. Jones, Andrew M. & Rice, Nigel & Roberts, Jennifer, 2010. "Sick of work or too sick to work? Evidence on self-reported health shocks and early retirement from the BHPS," Economic Modelling, Elsevier, vol. 27(4), pages 866-880, July.
  5. Pilar Garcia-Gomez & Hans van Kippersluis & Owen O'Donnell & Eddy van Doorslaer, 2011. "Effects of Health on Own and Spousal Employment and Income using Acute Hospital Admissions," Tinbergen Institute Discussion Papers 11-143/2, Tinbergen Institute.

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