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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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    15. Carrino, L.; & Nafilyan, V.; & Avendaño Pabon, M.;, 2019. "Should I Care or Should I Work? The Impact of Working in Older Age on Caregiving," Health, Econometrics and Data Group (HEDG) Working Papers 19/23, HEDG, c/o Department of Economics, University of York.
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    17. 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.
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    20. Birgit Leimer & Reyn van Ewijk, 2017. "No “Honeymoon Phase” Whose health benefits from retirement and when," Working Papers 2110, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 06 Jan 2021.
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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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