Does Retirement Kill You? Evidence from Early Retirement Windows

CentER Discussion Paper Series No. 2008-93

31 Pages Posted: 5 Nov 2008  

Norma B. Coe

University of Washington - Department of Health Services; Boston College - Center for Retirement Research

Maarten Lindeboom

Vrije Universiteit Amsterdam; Tinbergen Institute Amsterdam; IZA Institute of Labor Economics

Multiple version iconThere are 2 versions of this paper

Date Written: October 23, 2008

Abstract

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.

Keywords: retirement, depression, self-reported health, heart attack, cancer, diabetes, instrumental variables

JEL Classification: J26, I10

Suggested Citation

Coe, Norma B. and Lindeboom, Maarten, Does Retirement Kill You? Evidence from Early Retirement Windows (October 23, 2008). CentER Discussion Paper Series No. 2008-93. Available at SSRN: https://ssrn.com/abstract=1295315 or http://dx.doi.org/10.2139/ssrn.1295315

Norma B. Coe (Contact Author)

University of Washington - Department of Health Services ( email )

146 N. Canal St.
Seattle, WA 98103
United States

Boston College - Center for Retirement Research ( email )

140 Commonwealth Avenue
Boston, MA 02467
United States

Maarten Lindeboom

Vrije Universiteit Amsterdam ( email )

De Boelelaan 1105
1081 HV Amsterdam
Netherlands
+31 20 444 6033 (Phone)
+31 20 444 6020 (Fax)

Tinbergen Institute Amsterdam

Gustav Mahlerplein 117
Amsterdam, 1082 MS
Netherlands

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

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