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Does Retirement Age Impact Mortality?

Author

Listed:
  • Hernaes, Erik

    () (Ragnar Frisch Centre for Economic Research)

  • Markussen, Simen

    () (Ragnar Frisch Centre for Economic Research)

  • Piggott, John

    () (ARC Centre of Excellence in Population Ageing Research)

  • Vestad, Ola

    () (Ragnar Frisch Centre for Economic Research)

Abstract

This paper studies the relationship between retirement and mortality, using a unique administrative data set covering the full population of Norway. We make use of a series of retirement policy changes in Norway, which reduced the retirement age for a group of workers but not for others. By employing a difference-in-differences framework based on monthly birth cohort and treatment group status we first establish that the early retirement program significantly reduced the retirement age – this remains true when we account for program substitution, for example into the disability pension. Using instrumental variables estimation we find that retirement age has no effect on mortality.

Suggested Citation

  • Hernaes, Erik & Markussen, Simen & Piggott, John & Vestad, Ola, 2012. "Does Retirement Age Impact Mortality?," Memorandum 19/2012, Oslo University, Department of Economics.
  • Handle: RePEc:hhs:osloec:2012_019
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    References listed on IDEAS

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    More about this item

    Keywords

    Retirement age; Mortality; Instrumental variables; Policy evaluation;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I10 - Health, Education, and Welfare - - Health - - - General
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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