The Impact of Social Security Income on Cognitive Function at Older Ages Full Access

Padmaja Ayyagari and David Frisvold

American Journal of Health Economics, 2016, vol. 2, issue 4, 463-488

Abstract: Prior literature has documented a positive association between income and cognitive function at older ages; however, the extent to which this association represents causal effects is unknown. In this study, we use an exogenous change in Social Security income due to amendments to the Social Security Act in the 1970s to identify the causal impact of Social Security income on cognitive function of elderly individuals. We find that higher benefits led to significant improvements in cognitive function and that these improvements in cognition were clinically meaningful. Our results suggest that interventions even at advanced ages can slow the rate of decline in cognitive function.

Keywords: cognitive function; Social Security income; instrumental variables (search for similar items in EconPapers)
JEL-codes: H55 I12 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:tpr:amjhec:v:2:y:2016:i:4:p:463-488

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