Health Effects of Retirement Policy Changes: Evidence from Japan

Mingjia Xie, Ting Yin, Emiko Usui and Yi Zhang

Discussion papers from Research Institute of Economy, Trade and Industry (RIETI)

Abstract: We evaluate the health effects of hypothetical retirement policy changes, accounting for varied individual responses to policy changes and the heterogeneous health impacts of retirement. Using a Policy Relevant Treatment Effect (PRTE) framework with Japanese data, we find a policy’s net average health impact depends critically on its scale. Policies which cause marginal downward shifts in retirement rate improve average population health. Conversely, policies which induce large, substantial shifts lead to a net health decline as it faces individuals who stand to gain from retiring to continue working. Our findings highlight the importance of “selection on gains†and suggest that policymakers should favor incremental incentives over broad mandates.

Pages: 32 pages
Date: 2025-10
New Economics Papers: this item is included in nep-age and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:eti:dpaper:25102

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