Health and Retirement among Older Workers
AbstractThis paper investigates the causal relationship between ill-health and retirement among older working individuals. We represent the transition to retirement as a discrete-time hazard model using a stock-sample from the first five waves (2001- 2005) of the Household, Income and Labour Dynamics in Australia (HILDA) Survey. Our results show that health plays an important role in individual retirement decisions and that negative shocks to health greatly increase the hazard of retirement, especially for men. This is true for both a measure of health limitations and a measure of latent health obtained using pooled ordered probit models, as well as for three alternative health shock measures. We also consider the effects of partners’ health and labour market status on an individual’s retirement decision. Our estimates suggest that partners’ characteristics do not significantly influence individual retirement choices.
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Bibliographic InfoPaper provided by HEDG, c/o Department of Economics, University of York in its series Health, Econometrics and Data Group (HEDG) Working Papers with number 07/19.
Date of creation: Aug 2007
Date of revision:
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Postal: HEDG/HERC, Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom
Phone: (0)1904 323776
Fax: (0)1904 323759
Web page: http://www.york.ac.uk/economics/postgrad/herc/hedg/
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health; health shocks; discrete-time hazard model; retirement.;
This paper has been announced in the following NEP Reports:
- NEP-AGE-2007-11-17 (Economics of Ageing)
- NEP-ALL-2007-11-17 (All new papers)
- NEP-HEA-2007-11-17 (Health Economics)
- NEP-LAB-2007-11-17 (Labour Economics)
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