Volunteering during early retirement reduces depression

Angelo Lorenti, Alessandra De Rose and Filomena Racioppi
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Angelo Lorenti: Max Planck Institute for Demographic Research, Rostock, Germany

No WP-2024-038, MPIDR Working Papers from Max Planck Institute for Demographic Research, Rostock, Germany

Abstract: As individuals age, they often face deteriorating health and significant lifestyle changes, including retirement. While retirement can alter individuals' economic and social roles, potentially increasing the risk of depression, involvement in volunteer activities has been found to be beneficial for retirees. Using data from the Health and Retirement Study, we apply the parametric g-formula to simulate an intervention aimed at estimating the effect of volunteering on depression and ist heterogeneity, and to assess the mediating role of limitations in activities of daily living. Our results show that engagement in volunteering reduces the probability of depression by approximately 5% in the whole population, with larger gains among early retirees. The results hold irrespective of gender, and indicate that the benefits are greater for women and racial minorities. Our findings show that about 10% of the positive impact of volunteering on depression operates via a reduction in the likelihood of experiencing limitations in activities of daily living. Therefore, we conclude that the benefits of volunteering extend to improving the overall health of both individuals and the population. Our simulated intervention targeting early retirees may be a viable public health strategy for protecting individuals against depression, while also enabling them to contribute to the public good.

Keywords: USA; disability; mental depression; retirement; simulation; voluntary workers (search for similar items in EconPapers)
JEL-codes: J1 Z0 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2024
New Economics Papers: this item is included in nep-age
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Persistent link: https://EconPapers.repec.org/RePEc:dem:wpaper:wp-2024-038

DOI: 10.4054/MPIDR-WP-2024-038

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