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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

    (ROA rm)

Abstract

This paper uses longitudinal test data to analyze the relation between retirement andcognitive development. Controlling for individual fixed effects, we find that retirees facegreater declines in information processing speed than those who remain employed.However, remarkably, their cognitive flexibility declines less, an effect that appears to bepersistent 6 years after retirement. Both effects of retirement on cognitive developmentare comparable to those of a five to six-year age difference. They cannot be explained by(1) a relief effect after being employed in low-skilled jobs, (2) mood swings or (3) changesin lifestyle. Controlling for changes in blood pressure, which are negatively related tocognitive flexibility, we still find lower declines in cognitive flexibility for retirees. Sincethe decline in information processing speed after retirement holds particularly for thelow educated, activating these persons after retirement could lower the social costs ofan aging society.

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Bibliographic Info

Paper provided by Maastricht University, Research Centre for Education and the Labour Market (ROA) in its series ROA Research Memorandum with number 003.

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Date of creation: 2012
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Handle: RePEc:unm:umaror:2012003

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Keywords: education; training and the labour market;

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References

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  1. 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.
  2. Grip,Andries,de & Bosma,Hans & Willems,Dick & Boxtel,Martin,van, 2005. "Job-worker Mismatch and Cognitive Decline," ROA Research Memorandum 009, Maastricht University, Research Centre for Education and the Labour Market (ROA).
  3. Dora L. Costa, 1998. "The Evolution of Retirement," NBER Chapters, in: The Evolution of Retirement: An American Economic History, 1880-1990, pages 6-31 National Bureau of Economic Research, Inc.
  4. Dhaval Dave & R. Inas Rashad & Jasmina Spasojevic, 2008. "The Effects of Retirement on Physical and Mental Health Outcomes," Southern Economic Journal, Southern Economic Association, vol. 75(2), pages 497-523, October.
  5. 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.
  6. 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.
  7. Calvo, Esteban & Haverstick, Kelly & Sass, Steven, 2007. "What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?," MPRA Paper 5607, University Library of Munich, Germany.
  8. 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.
  9. 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.
  10. Coe, Norma B. & Zamarro, Gema, 2011. "Retirement effects on health in Europe," Journal of Health Economics, Elsevier, vol. 30(1), pages 77-86, January.
  11. 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.
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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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