Mental retirement

TitleMental retirement
Publication TypeJournal Article
Year of Publication2010
AuthorsRohwedder, S, Willis, RJ
JournalThe Journal of Economic Perspectives
Volume24
Issue1
Pagination119-138
Call Numbernewpubs20100921_Rohwedder.pdf
KeywordsConsumption and Savings, Cross-National, Employment and Labor Force, Health Conditions and Status, Public Policy, Retirement Planning and Satisfaction, Social Security, Women and Minorities
Abstract

Early retirement appears to have a significant negative impact on the cognitive ability of people in their early 60s that is both quantitatively important and causal. We obtain this finding using cross-nationally comparable survey data from the United States, England, and Europe that allow us to relate cognition and labor force status. We argue that the effect is causal by making use of a substantial body of research showing that variation in pension, tax, and disability policies explain most variation across countries in average retirement rates. (In an informal manner, we are arguing that public policies that affect the age of retirement may be used as instrumental variables to generate cross-country variation in retirement behavior in order to identify the causal effect of retirement on cognition.)

Endnote Keywords

early Retirement/Cognition/retirement Planning/Public Policy/labor Force Participation/cross-national comparison/Social Security and Public Pensions/Economics of the Elderly/Economics of the Handicapped/Non-labor Market Discrimination/Retirement/Retirement Policies/ELSA_/SHARE

Endnote ID

23440

Citation Key7496
PubMed ID20975927
PubMed Central IDPMC2958696