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Does Retirement Affect Cognitive Functioning?

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Author Info

  • Bonsang Eric
  • Adam Stéphane
  • Perelman Sergio

    (ROA rm)

Abstract

This paper analyzes the effect of retirement on cognitive functioning using two large scale surveys. On the one hand the HRS, a longitudinal survey among individuals aged 50+ living in the United States, allows us to control for individual heterogeneity and endogeneity of the retirement decision by using the eligibility age for Social Security as an instrument. On the other hand, a comparable international European survey, SHARE, allows us to identify the causal effect of retirement on cognitive functioning by using the cross-country differences in the age-pattern of retirement. The results highlight in both cases a significant negative, and quantitatively comparable, effect of retirement on cognitive functioning. Our results suggest that promoting labor force participation of older workers is not only desirable to insure the viability of retirement schemes, but it could also delay cognitive decline, and thus the occurrence of associated impairments at older age.

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Bibliographic Info

Paper provided by Maastricht : ROA, Research Centre for Education and the Labour Market in its series Research Memoranda with number 001.

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Date of creation: 2010
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Handle: RePEc:dgr:umaror:2010001

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Web page: http://www.maastrichtuniversity.nl/web/UMPublications.htm

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Keywords: education; training and the labour market;

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References

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  1. B. Douglas Bernheim, 1989. "The Timing of Retirement: A Comparison of Expectations and Realizations," NBER Chapters, in: The Economics of Aging, pages 335-358 National Bureau of Economic Research, Inc.
  2. Norma B. Coe & Gema Zamarro, 2008. "Retirement Effects on Health in Europe," Working Papers 588, RAND Corporation Publications Department.
  3. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 223-55, March-Apr.
  4. Dhaval Dave & Inas Rashad & Jasmina Spasojevic, 2006. "The Effects of Retirement on Physical and Mental Health Outcomes," NBER Working Papers 12123, National Bureau of Economic Research, Inc.
  5. Courtney Coile & Jonathan Gruber, 2000. "Social Security Incentives for Retirement," NBER Working Papers 7651, National Bureau of Economic Research, Inc.
  6. Susann Rohwedder & Robert J. Willis, 2010. "Mental Retirement," Journal of Economic Perspectives, American Economic Association, vol. 24(1), pages 119-38, Winter.
  7. David Haardt, 2007. "Cognitive functioning and labour force participation among older men and women in England," Social and Economic Dimensions of an Aging Population Research Papers 222, McMaster University.
  8. John Bound & Timothy Waidmann, 2007. "Estimating the Health Effects of Retirements," Working Papers wp168, University of Michigan, Michigan Retirement Research Center.
  9. Rachel S. Newson & Eva B. Kemps, 2005. "General Lifestyle Activities as a Predictor of Current Cognition and Cognitive Change in Older Adults: A Cross-Sectional and Longitudinal Examination," Journals of Gerontology: Series B, Gerontological Society of America, vol. 60(3), pages P113-P120.
  10. Charles F. Manski, 2004. "Measuring Expectations," Econometrica, Econometric Society, vol. 72(5), pages 1329-1376, 09.
  11. Margery H. Silver & Evguenia Jilinskaia & Thomas T. Perls, 2001. "Cognitive Functional Status of Age-Confirmed Centenarians in a Population-Based Study," Journals of Gerontology: Series B, Gerontological Society of America, vol. 56(3), pages P134-P140.
  12. Griliches, Zvi & Hausman, Jerry A., 1986. "Errors in variables in panel data," Journal of Econometrics, Elsevier, vol. 31(1), pages 93-118, February.
  13. Richard Disney & Sarah Tanner, 1999. "What can we learn from retirement expectations data?," IFS Working Papers W99/17, Institute for Fiscal Studies.
  14. Kerwin Kofi Charles, 2002. "Is Retirement Depressing?: Labor Force Inactivity and Psychological Well-Being in Later Life," NBER Working Papers 9033, National Bureau of Economic Research, Inc.
  15. Hugo Benítez-Silva & Debra S. Dwyer, 2005. "The Rationality of Retirement Expectations and the Role of New Information," The Review of Economics and Statistics, MIT Press, vol. 87(3), pages 587-592, August.
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As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Arbete stimulerar hjärnan
    by Niclas Berggren in Nonicoclolasos on 2010-03-19 05:40:29
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Cited by:
  1. Desjardins, Richard & Warnke, Arne Jonas, 2012. "Ageing and Skills: A Review and Analysis of Skill Gain and Skill Loss Over the Lifespan and Over Time," EconStor Preprints 57089, ZBW - German National Library of Economics.
  2. Helene Blake; & Clementine Garrouste, 2012. "Collateral effects of a pension reform in France," Health, Econometrics and Data Group (HEDG) Working Papers 12/16, HEDG, c/o Department of Economics, University of York.
  3. Hélène Blake & Clémentine Garrouste, 2012. "Collateral effects of a pension reform in France," Working Papers halshs-00703706, HAL.
  4. Maes, Marjan & Stammen, Benjamin, 2011. "The impact of (early) retirement on the subsequent physical and mental health of the retired: a survey among general practitioners in Belgium," Working Papers 2011/03, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
  5. Sahlgren, Gabriel H., 2012. "Work ‘til You Drop: Short- and Longer-Term Health Effects of Retirement in Europe," Working Paper Series 928, Research Institute of Industrial Economics.
  6. Nicolas Sirven, 2012. "On the Socio-Economic Determinants of Frailty: Findings from Panel and Retrospective Data from SHARE," Working Papers DT52, IRDES institut for research and information in health economics, revised Dec 2012.
  7. Hélène Blake & Clémentine Garrouste, 2012. "Collateral effects of a pension reform in France," PSE Working Papers halshs-00703706, HAL.

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