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Unhealthy Retirement?

Listed author(s):
  • Fabrizio Mazzonna

    (University of Lugano and MEA)

  • Franco Peracchi

    (University of Rome "Tor Vergata" and EIEF)

We investigate the causal effect of retirement on health and cognitive abilities by exploiting the panel dimension of the first two waves of the Survey of Health Ageing and Retirement in Europe (SHARE) and the variation between and within European countries in old age retirement rules. We show evidence of substantial heterogeneity in the effect of retirement across occupational groups. In particular, we find that retirement increases the age-related decline of health and cognitive abilities for most workers. On the other hand, we find evidence of a positive immediate effect of retirement for those employed in highly physically demanding jobs.

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Paper provided by Einaudi Institute for Economics and Finance (EIEF) in its series EIEF Working Papers Series with number 1409.

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Length: 39 pages
Date of creation: 2014
Date of revision: Sep 2014
Handle: RePEc:eie:wpaper:1409
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  1. John Fitzgerald & Peter Gottschalk & Robert Moffitt, 1998. "An Analysis of Sample Attrition in Panel Data: The Michigan Panel Study of Income Dynamics," Journal of Human Resources, University of Wisconsin Press, vol. 33(2), pages 251-299.
  2. Mazzonna, Fabrizio & Peracchi, Franco, 2012. "Ageing, cognitive abilities and retirement," European Economic Review, Elsevier, vol. 56(4), pages 691-710.
  3. Johnston, David W. & Lee, Wang-Sheng, 2009. "Retiring to the good life? The short-term effects of retirement on health," Economics Letters, Elsevier, vol. 103(1), pages 8-11, April.
  4. B. d'Hombres & L. Rocco & M. Suhrcke & M. McKee, 2010. "Does social capital determine health? Evidence from eight transition countries," Health Economics, John Wiley & Sons, Ltd., vol. 19(1), pages 56-74.
  5. Jonathan Gruber & David A. Wise, 2004. "Social Security Programs and Retirement around the World: Micro-Estimation," NBER Books, National Bureau of Economic Research, Inc, number grub04-1, Enero-Jun.
  6. Bingley, Paul & Martinello, Alessandro, 2013. "Mental retirement and schooling," European Economic Review, Elsevier, vol. 63(C), pages 292-298.
  7. Cawley, John & Heckman, James & Vytlacil, Edward, 2001. "Three observations on wages and measured cognitive ability," Labour Economics, Elsevier, vol. 8(4), pages 419-442, September.
  8. Viola Angelini & Agar Brugiavini & Guglielmo Weber, 2009. "Ageing and unused capacity in Europe: is there an early retirement trap?," Economic Policy, CEPR;CES;MSH, vol. 24, pages 463-508, 07.
  9. Coe, Norma B. & Zamarro, Gema, 2011. "Retirement effects on health in Europe," Journal of Health Economics, Elsevier, vol. 30(1), pages 77-86, January.
  10. Franco Peracchi & Claudio Rossetti, 2012. "Heterogeneity in health responses and anchoring vignettes," Empirical Economics, Springer, vol. 42(2), pages 513-538, April.
  11. Susann Rohwedder & Robert J. Willis, 2010. "Mental Retirement," Journal of Economic Perspectives, American Economic Association, vol. 24(1), pages 119-138, Winter.
  12. 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.
  13. Mazzonna, Fabrizio, 2014. "The long lasting effects of education on old age health: Evidence of gender differences," Social Science & Medicine, Elsevier, vol. 101(C), pages 129-138.
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