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The Role of Health in Retirement

Transitions through the Labor Market

ISBN: 978-1-78756-462-6, eISBN: 978-1-78756-461-9

ISSN: 0147-9121

Publication date: 6 August 2018

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.

Keywords

Citation

Gustman, A.L. and Steinmeier, T.L. (2018), "The Role of Health in Retirement ", Transitions through the Labor Market (Research in Labor Economics, Vol. 46), Emerald Publishing Limited, Bingley, pp. 229-297. https://doi.org/10.1108/S0147-912120180000046007

Publisher

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Emerald Publishing Limited

Copyright © 2018 Emerald Publishing Limited