Work

The Role of Health in Retirement

Year: 2014

Type: book-chapter

Abstract: A dynamic model of the evolution of health for those over the age of 50 is embedded in a structural, econometric model of retirement and saving. Effects of smoking, obesity, alcohol consumption, depression, and other proclivities on medical conditions are analyzed, including hypertension, diabetes, cancer, lung disease, heart problems, stroke, psychiatric problems, and arthritis. Compared to a population in good health, the current health of the population reduces retirement age by about one year. Including detailed health dynamics in a retirement model does not influence estimates of the marginal effects of economic incentives on retirement.

Source: Emerald Group Publishing Limited eBooks

DOI: 10.1108/s0147-912120180000046007

Authors: Alan L. Gustman, Thomas L. Steinmeier

Institutions: Dartmouth College, National Bureau of Economic Research, Texas Tech University

Language: English

Topic: Retirement, Disability, and Employment

Subfield: Demography

Field: Social Sciences

Domain: Social Sciences

SDG: Good health and well-being

Open Access status: green

Funder: National Institute on Aging