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Does Retirement Kill You? Evidence from Early Retirement Windows

Listed author(s):
  • Coe, N.B.

    (Tilburg University, Center For Economic Research)

  • Lindeboom, M.

The effect that health has on the retirement decision has long been studied. We examine the reverse relationship, whether retirement has a direct impact on later-life health. To identify the causal relationship, we use early retirement window offers to instrument for retirement. We find no negative effects of early retirement on men’s health, and if anything, a temporary increase in self-reported health and improvements in health of highly educated workers. While this is consistent with previous literature using Social Security ages as instruments, we also find that anticipation of retirement might be important, and bias the previous estimates downwards.

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File URL: https://pure.uvt.nl/portal/files/1037524/2008-93.pdf
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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2008-93.

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Date of creation: 2008
Handle: RePEc:tiu:tiucen:749af81e-10f6-4c32-b9ae-0264a16543a8
Contact details of provider: Web page: http://center.uvt.nl

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  1. James Smith, 2005. "Consequences and Predictors of New Health Events," NBER Chapters,in: Analyses in the Economics of Aging, pages 213-240 National Bureau of Economic Research, Inc.
  2. James P. Smith, 2005. "The Impact of SES on Health over the Life-Course," Working Papers 318, RAND Corporation.
  3. Maarten Lindeboom & France Portrait & Gerard J. van den Berg, 2002. "An econometric analysis of the mental-health effects of major events in the life of older individuals," Health Economics, John Wiley & Sons, Ltd., vol. 11(6), pages 505-520.
  4. Charles Brown, "undated". "Early Retirement Windows," Pension Research Council Working Papers 98-17, Wharton School Pension Research Council, University of Pennsylvania.
  5. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
  6. 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.
  7. Douglas Staiger & James H. Stock, 1997. "Instrumental Variables Regression with Weak Instruments," Econometrica, Econometric Society, vol. 65(3), pages 557-586, May.
  8. Peter Adams & Michael D. Hurd & Daniel L. McFadden & Angela Merrill & Tiago Ribeiro, 2004. "Healthy, Wealthy, and Wise? Tests for Direct Causal Paths between Health and Socioeconomic Status," NBER Chapters,in: Perspectives on the Economics of Aging, pages 415-526 National Bureau of Economic Research, Inc.
  9. Marcel Kerkhofs & Maarten Lindeboom, 1997. "Age related health dynamics and changes in labour market status," Health Economics, John Wiley & Sons, Ltd., vol. 6(4), pages 407-423.
  10. Norma B. Coe & Gema Zamarro, 2008. "Retirement Effects on Health in Europe," Working Papers 588, RAND Corporation.
  11. John Bound & Timothy Waidmann, 2007. "Estimating the Health Effects of Retirements," Working Papers wp168, University of Michigan, Michigan Retirement Research Center.
  12. 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.
  13. Kerwin Kofi Charles, 2002. "Is Retirement Depressing?: Labor Force Inactivity and Psychological Well-Being in Later Life," NBER Working Papers 9033, National Bureau of Economic Research, Inc.
  14. Coe, Norma B. & Zamarro, Gema, 2011. "Retirement effects on health in Europe," Journal of Health Economics, Elsevier, vol. 30(1), pages 77-86, January.
  15. James P. Smith, 2005. "The Impact of SES on Health over the Life-Course," Working Papers 318, RAND Corporation.
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