Title | Economic downturns, retirement and long-term cognitive function among older Americans. |
Publication Type | Journal Article |
Year of Publication | 2018 |
Authors | Hessel, P, Riumallo-Herl, CJ, Leist, AK, Berkman, LF, Avendano, M |
Journal | Journals of Gerontology, Series B: Psychological Sciences and Social Sciences |
Volume | 73 |
Issue | 4 |
Pagination | 744-754 |
Date Published | 2017 Apr 11 |
ISSN Number | 1758-5368 |
Keywords | Cognitive Ability, Economic Downturn, Retirement Planning and Satisfaction |
Abstract | Objective: Workers approaching retirement may be particularly vulnerable to economic downturns. This study assesses whether exposure to economic downturns around retirement age leads to poorer cognitive function in later life. Method: Longitudinal data for 13,577 individuals in the Health and Retirement Study were linked to unemployment rates in state of residence. Random- and fixed-effect models were used to examine whether downturns at 55-64 years of age were associated with cognitive functioning levels and decline at ≥65 years, measured by the Wechsler Adult Intelligence Scale-Revised. Results: Longer exposure to downturns at 55-64 years of age was associated with lower levels of cognitive function at ≥65 years. Compared to individuals experiencing only up to 1 year in a downturn at 55-64 years of age, individuals experiencing two downturns at these ages had 0.09 point (95% Confidence Interval [CI, -0.17, -0.02]) lower cognitive functioning scores at ≥65 years (3 years: b = -0.17, 95%CI [-0.29, -0.06]; 4 years: b = -0.14, 95%CI [-0.25, -0.02]; ≥5 years: b = -0.22, 95%CI [-0.38, -0.06]). Downturns at 55-64 years of age were not associated with rates of cognitive decline. Discussion: Exposure to downturns around retirement is associated with a long-lasting decline in cognitive function in later life. Policies mitigating the impact of downturns on older workers may help to maintain cognitive function in later life. |
DOI | 10.1093/geronb/gbx035 |
Alternate Journal | J Gerontol B Psychol Sci Soc Sci |
Citation Key | 9050 |
PubMed ID | 28402464 |
PubMed Central ID | PMC6018975 |
Grant List | R01 AG037398 / AG / NIA NIH HHS / United States R01 AG040248 / AG / NIA NIH HHS / United States |