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Does postponing minimum retirement age improve healthy behaviours before retirement? Evidence from middle-aged Italian workers?

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  • Bertoni, Marco
  • Brunello, Giorgio
  • Mazzarella, Gianluca

Abstract

By increasing the residual working horizon of employed individuals, pension reforms that raise minimum retirement age are likely to affect the returns to investments in health-promoting behaviours before retirement, with consequences for individual health. Using the exogenous variation in minimum retirement age induced by a sequence of Italian pension reforms during the 1990s and 2000s, we show that Italian males aged 40 to 49 reacted to the longer time to retirement by raising regular exercise and by reducing smoking and regular alcohol consumption. Dietary habits were also affected, with positive consequences on obesity and self-reported satisfaction with health.

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  • Bertoni, Marco & Brunello, Giorgio & Mazzarella, Gianluca, 2016. "Does postponing minimum retirement age improve healthy behaviours before retirement? Evidence from middle-aged Italian workers?," Research Memorandum 016, Maastricht University, Graduate School of Business and Economics (GSBE).
  • Handle: RePEc:unm:umagsb:2016016
    DOI: 10.26481/umagsb.2016016
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    2. Albarrán, Pedro & Hidalgo-Hidalgo, Marisa & Iturbe-Ormaetxe, Iñigo, 2020. "Education and adult health: Is there a causal effect?," Social Science & Medicine, Elsevier, vol. 249(C).
    3. Ann Barbara Bauer & Reiner Eichenberger, 2017. "Endogenous aging: How statutory retirement age drives human and social capital," CREMA Working Paper Series 2017-02, Center for Research in Economics, Management and the Arts (CREMA).
    4. Donatella Baiardi & Marco Magnani & Mario Menegatti, 2020. "The theory of precautionary saving: an overview of recent developments," Review of Economics of the Household, Springer, vol. 18(2), pages 513-542, June.
    5. Claudio Daminato & Mario Padula, 2020. "The Life-Cycle Effects of Pension Reforms: A Structural Approach," CSEF Working Papers 585, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    6. Zhang, Yi & Salm, Martin & van Soest, Arthur, 2018. "The effect of retirement on healthcare utilization: Evidence from China," Journal of Health Economics, Elsevier, vol. 62(C), pages 165-177.
    7. Motegi, Hiroyuki & Nishimura, Yoshinori & Oikawa, Masato, 2020. "Retirement and health investment behaviors: An international comparison," The Journal of the Economics of Ageing, Elsevier, vol. 16(C).
    8. Heller-Sahlgren, Gabriel, 2017. "Retirement blues," Journal of Health Economics, Elsevier, vol. 54(C), pages 66-78.
    9. Ludovico Carrino & Karen Glaser & Mauricio Avendano, 2020. "Later retirement, job strain, and health: Evidence from the new State Pension age in the United Kingdom," Health Economics, John Wiley & Sons, Ltd., vol. 29(8), pages 891-912, August.
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    12. Gerhard Schulz & Philipp Jäger & Torsten Schmidt & Erik Gawel & Thomas Puls & Gernot Sieg & Berthold U. Wigger & Alexander Eisenkop, 2018. "Für eine zukunftsfähige und solide finanzierte Verkehrsinfrastruktur – welche Reformen sind erforderlich?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(22), pages 03-22, November.
    13. Kronenberg, Christoph, 2020. "New(spaper) Evidence of a Reduction in Suicide Mentions during the 19th‐century US Gold Rush," CINCH Working Paper Series (since 2020) 73382, Duisburg-Essen University Library, DuEPublico Provider-Homepage: https://cinch.uni-due.de/.
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    15. Etgeton, Stefan & Fischer, Björn & Ye, Han, 2019. "The Effect of Increasing the Early Retirement Age on Savings Behavior Before Retirement," IZA Discussion Papers 12744, Institute of Labor Economics (IZA).
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    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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