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Education and its Effects on Survival, Income and Health of those aged Sixty-five and over in the United Kingdom

Author

Listed:
  • Dr Silvia Lui

    ()

  • Dr Martin Weale

    ()

Abstract

We explore the effects of income and, additionally education on the income, self-reported health and survival of people aged sixty-?ve and over in order to identify bene?ts resulting from education which are omitted in the conventional analysis with its focus on labour income excluding employer contributions. We ?nd, for men, that income after the age of sixty-?ve is signi?cantly in?uenced by educational attainment and has a signi?cant effect on survival. Even after controlling for circumstances at age sixty-?ve or when ?rst observed, we identify bene?ts discounted to age sixty-?ve of £170,000 for men with higher education quali?cations as compared to those with minimal quali?cations. However, similar effects are not observed for women.

Suggested Citation

  • Dr Silvia Lui & Dr Martin Weale, 2012. "Education and its Effects on Survival, Income and Health of those aged Sixty-five and over in the United Kingdom," National Institute of Economic and Social Research (NIESR) Discussion Papers 393, National Institute of Economic and Social Research.
  • Handle: RePEc:nsr:niesrd:3270
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    File URL: http://www.niesr.ac.uk/sites/default/files/publications/dp393_0.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    returns to education; income; education and healthy life expectancy; mortality;

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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