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Estimating the Health Effects of Retirements

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  • John Bound

    (University of Michigan)

  • Timothy Waidmann

    (The Urban Institute)

Abstract

We estimate the magnitude of any direct effect of retirement on health. Since retirement is endogenous to heath, it is not possible to estimate this effect by comparing the health of individuals before and after they retire. As an alternative we use institutional features of the pension system in the United Kingdom that are exogenous to the individual to isolate exogenous variation in retirement behavior. Data used will include both vital statistics and survey data that include both "objective" physical measurements and respondent self-reports. We find no evidence of negative health effects of retirement and some evidence that there may be a positive effect, at least for men.

Suggested Citation

  • John Bound & Timothy Waidmann, 2007. "Estimating the Health Effects of Retirements," Working Papers wp168, University of Michigan, Michigan Retirement Research Center.
  • Handle: RePEc:mrr:papers:wp168
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    File URL: http://www.mrrc.isr.umich.edu/publications/Papers/pdf/wp168.pdf
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    References listed on IDEAS

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    1. Richard Blundell & Costas Meghir & Sarah Smith, 2002. "Pension Incentives and the Pattern of Early Retirement," Economic Journal, Royal Economic Society, vol. 112(478), pages 153-170, March.
    2. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 223-255, March-Apr.
    3. Richard Blundell & Paul Johnson, 1999. "Pensions and Retirement in the United Kingdom," NBER Chapters,in: Social Security and Retirement around the World, pages 403-435 National Bureau of Economic Research, Inc.
    4. David Card & Carlos Dobkin & Nicole Maestas, 2008. "The Impact of Nearly Universal Insurance Coverage on Health Care Utilization: Evidence from Medicare," American Economic Review, American Economic Association, vol. 98(5), pages 2242-2258, December.
    5. Imbens, Guido W & Angrist, Joshua D, 1994. "Identification and Estimation of Local Average Treatment Effects," Econometrica, Econometric Society, vol. 62(2), pages 467-475, March.
    6. Christopher J. Ruhm, 2006. "Macroeconomic Conditions, Health and Mortality," Chapters,in: The Elgar Companion to Health Economics, chapter 1 Edward Elgar Publishing.
    7. 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.
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