The Role of Health in Retirement☆

Alan L. Gustman and Thomas L. Steinmeier

A chapter in Transitions through the Labor Market, 2018, vol. 46, pp 229-297 from Emerald Group Publishing Limited

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: Retirement; Health; Health Insurance; Structural Modeling; Health and Retirement Study; Labor Supply Dynamics; D31; D91; E21; H55; I1; I3; J14; J18; J26; J3; J32 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rleczz:s0147-912120180000046007

DOI: 10.1108/S0147-912120180000046007

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