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Does Retirement Age Impact Mortality?

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Author Info

  • Hernaes, Erik

    ()
    (Ragnar Frisch Centre for Economic Research)

  • Markussen, Simen

    ()
    (Ragnar Frisch Centre for Economic Research)

  • Piggott, John

    ()
    (ARC Centre of Excellence in Population Ageing Research)

  • Vestad, Ola

    ()
    (Ragnar Frisch Centre for Economic Research)

Abstract

This paper studies the relationship between retirement and mortality, using a unique administrative data set covering the full population of Norway. We make use of a series of retirement policy changes in Norway, which reduced the retirement age for a group of workers but not for others. By employing a difference-in-differences framework based on monthly birth cohort and treatment group status we first establish that the early retirement program significantly reduced the retirement age – this remains true when we account for program substitution, for example into the disability pension. Using instrumental variables estimation we find that retirement age has no effect on mortality.

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File URL: https://www.sv.uio.no/econ/english/research/unpublished-works/working-papers/pdf-files/2012/Memo-19-2012.pdf
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Bibliographic Info

Paper provided by Oslo University, Department of Economics in its series Memorandum with number 19/2012.

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Length: 29 pages
Date of creation: 11 Jun 2012
Date of revision:
Handle: RePEc:hhs:osloec:2012_019

Contact details of provider:
Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
Phone: 22 85 51 27
Fax: 22 85 50 35
Email:
Web page: http://www.oekonomi.uio.no/indexe.html
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Keywords: Retirement age; Mortality; Instrumental variables; Policy evaluation;

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References

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  1. Gaure, Simen & Roed, Knut & Zhang, Tao, 2007. "Time and causality: A Monte Carlo assessment of the timing-of-events approach," Journal of Econometrics, Elsevier, vol. 141(2), pages 1159-1195, December.
  2. Hernaes, Erik & Sollie, Marte & Strom, Steinar, 2000. " Early Retirement and Economic Incentives," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(3), pages 481-502, June.
  3. Daniel Sullivan & Till von Wachter, 2009. "Job Displacement and Mortality: An Analysis Using Administrative Data," The Quarterly Journal of Economics, MIT Press, vol. 124(3), pages 1265-1306, August.
  4. Coe, Norma B. & Lindeboom, Maarten, 2008. "Does Retirement Kill You? Evidence from Early Retirement Windows," IZA Discussion Papers 3817, Institute for the Study of Labor (IZA).
  5. Marcus Eliason & Donald Storrie, 2009. "Does Job Loss Shorten Life?," Journal of Human Resources, University of Wisconsin Press, vol. 44(2).
  6. Kuhn, Andreas & Wuellrich, Jean-Philippe & Zweimüller, Josef, 2010. "Fatal Attraction? Access to Early Retirement and Mortality," CEPR Discussion Papers 8024, C.E.P.R. Discussion Papers.
  7. Mari Rege, Kjetil Telle & Mark Votruba, 2005. "The Effect of Plant Downsizing on Disability Pension Utilization," Discussion Papers 435, Research Department of Statistics Norway.
  8. Knut Røed & Fredrik Haugen, 2003. "Early Retirement and Economic Incentives: Evidence from a Quasi-natural Experiment," LABOUR, CEIS, vol. 17(2), pages 203-228, 06.
  9. Salm, Martin, 2009. "Does Job Loss Cause Ill Health?," IZA Discussion Papers 4147, Institute for the Study of Labor (IZA).
  10. Norma B. Coe & Gema Zamarro, 2008. "Retirement Effects on Health in Europe," Working Papers 588, RAND Corporation Publications Department.
  11. Ola Lotherington Vestad, 2012. "Labour supply effects of early retirement provision," Discussion Papers 717, Research Department of Statistics Norway.
  12. Brockmann, Hilke & Müller, Rolf & Helmert, Uwe, 2009. "Time to retire - Time to die? A prospective cohort study of the effects of early retirement on long-term survival," Social Science & Medicine, Elsevier, vol. 69(2), pages 160-164, July.
  13. Michael D. Hurd & Kathleen McGarry, 2002. "The Predictive Validity of Subjective Probabilities of Survival," Economic Journal, Royal Economic Society, vol. 112(482), pages 966-985, October.
  14. Browning, Martin & Heinesen, Eskil, 2012. "Effect of job loss due to plant closure on mortality and hospitalization," Journal of Health Economics, Elsevier, vol. 31(4), pages 599-616.
  15. Espen Bratberg & Tor Helge Holmås & Øystein Thøgersen, 2004. "Assessing the effects of an early retirement program," Journal of Population Economics, Springer, vol. 17(3), pages 387-408, 08.
  16. Heckman, James & Singer, Burton, 1984. "A Method for Minimizing the Impact of Distributional Assumptions in Econometric Models for Duration Data," Econometrica, Econometric Society, vol. 52(2), pages 271-320, March.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. [??]???????????????
    by himaginary in himaginaryの日記 on 2012-09-14 07:00:00
  2. Does the retirement age have an impact on when you die?
    by Economic Logician in Economic Logic on 2012-09-14 14:51:00
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Cited by:
  1. Hallberg, Daniel & Johansson, Per & Josephson, Malin, 2014. "Early retirement and post retirement health," Working Paper Series 2014:12, IFAU - Institute for Evaluation of Labour Market and Education Policy.
  2. Peter Eibich, 2014. "Understanding the Effect of Retirement on Health Using Regression Discontinuity Design," SOEPpapers on Multidisciplinary Panel Data Research 669, DIW Berlin, The German Socio-Economic Panel (SOEP).
  3. Bhuller, Manudeep & Mogstad, Magne & Salvanes, Kjell G., 2014. "Life Cycle Earnings, Education Premiums and Internal Rates of Return," IZA Discussion Papers 8316, Institute for the Study of Labor (IZA).
  4. 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.

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