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Retirement and cognitive development: are the retired really inactive?

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  • Grip Andries de
  • Dupuy Arnaud
  • Jolles Jelle
  • Boxtel Martin van

    (METEOR)

Abstract

This paper uses longitudinal test data to analyze the relation between retirement and cognitivedevelopment. Controlling for individual fixed effects, we find that retirees face greater declinesin information processing speed than those who remain employed. However, remarkably, theircognitive flexibility declines less, an effect that appears to be persistent 6 years afterretirement. Both effects of retirement on cognitive development are comparable to those of a fiveto six-year age difference. They cannot be explained by (1) a relief effect after being employedin low-skilled jobs, (2) mood swings or (3) changes in lifestyle. Controlling for changes in bloodpressure, which are negatively related to cognitive flexibility, we still find lower declines incognitive flexibility for retirees. Since the decline in information processing speed afterretirement holds particularly for the low educated, activating these persons after retirementcould lower the social costs of an aging society.

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Bibliographic Info

Paper provided by Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR) in its series Research Memorandum with number 009.

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Date of creation: 2012
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Handle: RePEc:unm:umamet:2012009

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Keywords: labour economics ;

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  1. Vivian H. Hamilton & Philip Merrigan & Éric Dufresne, 1997. "Down and out: estimating the relationship between mental health and unemployment," Health Economics, John Wiley & Sons, Ltd., vol. 6(4), pages 397-406.
  2. 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.
  3. Bruno, Giovanni S.F., 2005. "Approximating the bias of the LSDV estimator for dynamic unbalanced panel data models," Economics Letters, Elsevier, vol. 87(3), pages 361-366, June.
  4. de Grip, Andries & Bosma, Hans & Willems, Dick & van Boxtel, Martin, 2007. "Job-Worker Mismatch and Cognitive Decline," IZA Discussion Papers 2956, Institute for the Study of Labor (IZA).
  5. Norma B. Coe & Hans‐Martin von Gaudecker & Maarten Lindeboom & Jürgen Maurer, 2012. "The Effect Of Retirement On Cognitive Functioning," Health Economics, John Wiley & Sons, Ltd., vol. 21(8), pages 913-927, 08.
  6. Costa, Dora L., 1998. "The Evolution of Retirement," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226116082, April.
  7. Norma B. Coe & Gema Zamarro, 2008. "Retirement Effects on Health in Europe," Working Papers 588, RAND Corporation Publications Department.
  8. Esteban Calvo & Kelly Haverstick & Steven A. Sass, 2007. "What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?," Working Papers, Center for Retirement Research at Boston College wp2007-18, Center for Retirement Research, revised Oct 2007.
  9. Martin Browning & Anne Moller Dano & Eskil Heinesen, 2006. "Job displacement and stress-related health outcomes," Health Economics, John Wiley & Sons, Ltd., vol. 15(10), pages 1061-1075.
  10. Jacob Mincer & Haim Ofek, 1982. "Interrupted Work Careers: Depreciation and Restoration of Human Capital," Journal of Human Resources, University of Wisconsin Press, vol. 17(1), pages 3-24.
  11. Costa, Dora L, 1998. "The Evolution of Retirement: Summary of a Research Project," American Economic Review, American Economic Association, vol. 88(2), pages 232-36, May.
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Cited by:
  1. 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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