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The Effect of Heavy Smoking on Early Retirement: An Instrumental Variable Approach

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  • Gaggero, A.
  • Ajnakina, O.
  • Hackett, R.A

Abstract

The extent to which heavy smoking and early retirement are causally related remains to be determined. To overcome the endogeneity of heavy smoking behaviour, we employ a novel approach by exploiting Mendelian Randomisation and use genetic predisposition to heavy smoking, as measured with a polygenic risk score (PGS), as an instrumental variable. A total of 3578 participants from the English Longitudinal Study of Ageing (mean age 64.41 years) had data on smoking behaviour, employment and a heavy smoking PGS. Heavy smoking was indexed as smoking at least 20 cigarettes a day. Early retirement was classified as retiring before state pension age. Our results show that being a heavy smoker increases significantly the probability of early retirement. Results were robust to a battery of robustness checks and a falsification test. Overall, our findings support a causal pathway from heavy smoking to early retirement.

Suggested Citation

  • Gaggero, A. & Ajnakina, O. & Hackett, R.A, 2021. "The Effect of Heavy Smoking on Early Retirement: An Instrumental Variable Approach," Health, Econometrics and Data Group (HEDG) Working Papers 21/12, HEDG, c/o Department of Economics, University of York.
    • Handle: RePEc:yor:hectdg:21/12
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    References listed on IDEAS

    as
    1. Bengtsson, Tommy & Nilsson, Anton, 2018. "Smoking and early retirement due to chronic disability," Economics & Human Biology, Elsevier, vol. 29(C), pages 31-41.
    2. Padmaja Ayyagari, 2016. "The Impact of Retirement on Smoking Behavior," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 42(2), pages 270-287, March.
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    More about this item

    Keywords

    smoking; early retirement; polygenic risk scores; instrumental variable; mendelian randomisation;
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