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Early Retirement and Public Disability Insurance Applications: Exploring the Impact of Depression

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  • Rena M. Conti
  • Ernst R. Berndt
  • Richard G. Frank
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    Abstract

    This paper investigates the impact of depression on labor force participation among older workers. Empirically, we use two analytic strategies and rely on a sample drawn from the Health and Retirement Survey. Depression directly and indirectly increases individuals%u2019 probability of retiring early and applying for DI benefits, after accounting for other predictors of labor force exit. Accounting for the independent effects of depression, disability associated with physical illness may be smaller than the official statistics suggest. There may be great economic gains in increasing depression treatment awareness and access to treatment for individuals, employers and society.

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    Bibliographic Info

    Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 12237.

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    Date of creation: May 2006
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    Handle: RePEc:nbr:nberwo:12237

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    1. Blau, David M, 1998. "Labor Force Dynamics of Older Married Couples," Journal of Labor Economics, University of Chicago Press, vol. 16(3), pages 595-629, July.
    2. Fenn, P T & Vlachonikolis, I G, 1986. "Male Labour Force Participation Following Illness or Injury," Economica, London School of Economics and Political Science, vol. 53(211), pages 379-91, August.
    3. Marjorie Honig & Giora Hanoch, 1985. "Partial Retirement as a Separate Mode of Retirement Behavior," Journal of Human Resources, University of Wisconsin Press, vol. 20(1), pages 21-46.
    4. Bartel, Ann & Taubman, Paul, 1979. "Health and Labor Market Success: The Role of Various Diseases," The Review of Economics and Statistics, MIT Press, vol. 61(1), pages 1-8, February.
    5. Gloria J. Bazzoli, 1985. "The Early Retirement Decision: New Empirical Evidence on the Influence of Health," Journal of Human Resources, University of Wisconsin Press, vol. 20(2), pages 214-234.
    6. Berkovec, James & Stern, Steven, 1991. "Job Exit Behavior of Older Men," Econometrica, Econometric Society, vol. 59(1), pages 189-210, January.
    7. Chirikos, Thomas N & Nestel, Gilbert, 1985. "Further Evidence on the Economic Effects of Poor Health," The Review of Economics and Statistics, MIT Press, vol. 67(1), pages 61-69, February.
    8. 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.
    9. Jon A. Breslaw & Morton Stelcner, 1987. "The Effect of Health on the Labor Force Behavior of Elderly Men in Canada," Journal of Human Resources, University of Wisconsin Press, vol. 22(4), pages 490-517.
    10. Ruhm, Christopher J, 1990. "Bridge Jobs and Partial Retirement," Journal of Labor Economics, University of Chicago Press, vol. 8(4), pages 482-501, October.
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    Cited by:
    1. Van Bui & Michael Stolpe, 2010. "The impact of new drug launches on the loss of labor from disease and injury: evidence from German panel data," International Journal of Health Care Finance and Economics, Springer, vol. 10(4), pages 315-346, December.
    2. Suhrcke, Marc & Pelgrin, Florian & Oliveira Martins, Joaquim & Dormont, Brigitte, 2007. "Health expenditures, longevity and growth," Economics Papers from University Paris Dauphine 123456789/3882, Paris Dauphine University.
    3. Stefanie Behncke, 2009. "How Does Retirement Affect Health?," University of St. Gallen Department of Economics working paper series 2009 2009-13, Department of Economics, University of St. Gallen.
    4. Jürgen Maurer & Roger Klein & Francis Vella, 2011. "Subjective Health Assessments and Active Labor Market Participation of Older Men: Evidence from a Semiparametric Binary Choice Model with Nonadditive Correlated Individual-specific Effects," The Review of Economics and Statistics, MIT Press, vol. 93(3), pages 764-774, August.
    5. Wang, Yang & Yang, Muzhe, 2013. "Crisis-induced depression, physical activity and dietary intake among young adults: Evidence from the 9/11 terrorist attacks," Economics & Human Biology, Elsevier, vol. 11(2), pages 206-220.
    6. Jason M. Fletcher, 2008. "Adolescent depression: diagnosis, treatment, and educational attainment," Health Economics, John Wiley & Sons, Ltd., vol. 17(11), pages 1215-1235.

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