What Explains the Difference in the Effect of Retirement on Health? Evidence from Global Aging Data

56 Pages Posted: 13 Jun 2018

See all articles by Yoshinori Nishimura

Yoshinori Nishimura

Chiba Institute of Technology - Global Institute of Financial Research

Masato Oikawa

Waseda University - Faculty of Education and Integrated Arts and Sciences; Waseda University - Waseda Institute of Social and Human Capital Studies (WISH)

Hiroyuki Motegi

University of Tokyo

Date Written: July 2018

Abstract

This paper analyzes the reasons for differences in the estimated effect of retirement on health in previous studies. We investigate these differences by focusing on the analysis methods used by these studies. Using various health indexes, numerous researchers have examined the effects of retirement on health. However, there are no unified views on the impact of retirement on various health indexes. Consequently, we show that the choice of analysis method is one of the key factors in explaining why the estimated results of the effect of retirement on health differ. Moreover, we re‐estimate the effect of retirement on health by using a fixed analysis method controlling for individual heterogeneity and endogeneity of the retirement behavior. We analyze the effect of retirement on health parameters, such as cognitive function, self‐report of health, activities of daily living (ADL), depression, and body mass index in eight countries. We find that the effects of retirement on self‐report of health, depression, and ADL are positive in many of these countries.

Keywords: Aging, Global aging data, Health, Retirement

Suggested Citation

Nishimura, Yoshinori and Oikawa, Masato and Motegi, Hiroyuki, What Explains the Difference in the Effect of Retirement on Health? Evidence from Global Aging Data (July 2018). Journal of Economic Surveys, Vol. 32, Issue 3, pp. 792-847, 2018, Available at SSRN: https://ssrn.com/abstract=3194903 or http://dx.doi.org/10.1111/joes.12215

Yoshinori Nishimura (Contact Author)

Chiba Institute of Technology - Global Institute of Financial Research ( email )

Chiba
Japan

Masato Oikawa

Waseda University - Faculty of Education and Integrated Arts and Sciences ( email )

1-6-1 Nishi-waseda
Shinjuku-ku
Tokyo, 1698050
Japan

Waseda University - Waseda Institute of Social and Human Capital Studies (WISH)

Japan

Hiroyuki Motegi

University of Tokyo

Yayoi 1-1-1
Bunkyo-ku
Tokyo, Tokyo 113-8657
Japan

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