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Retirement and Unexpected Health Shocks

Bénédicte Apouey, Cahit Guven () and Claudia Senik
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Claudia Senik: PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, UP4 - Université Paris-Sorbonne

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Abstract: Is retirement good for your health? This article explores the impact of retirement on unexpected health evolutions. Using data from the annual Household, Income and Labour Dynamics in Australia survey (2001-2014), we construct measures of the mismatch between each person's expected and actual health evolution (hereafter, "health shocks"). We find that after retirement, the probability of negative shocks decreases and the likelihood of positive health shocks increases, for both genders. These shocks translate into variations of life satisfaction in the same direction (i.e. unexpected positive health shocks increase life satisfaction). Other indicators of mental and physical health taken from the SF-36 vary in the same way, i.e. improve unexpectedly after retirement. By definition, health shocks are immune to the problem of reverse causality that could run from health to retirement. Hence, our findings are consistent with a positive impact of retirement on health.

Keywords: Life Satisfaction; Australia; HILDA; Health; Retirement; Health Shocks (search for similar items in EconPapers)
Date: 2019-01
New Economics Papers: this item is included in nep-age, nep-hap and nep-hea
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-01670486v3
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Related works:
Journal Article: Retirement and Unexpected Health Shocks (2019) Downloads
Working Paper: Retirement and Unexpected Health Shocks (2019)
Working Paper: Retirement and Unexpected Health Shocks (2019)
Working Paper: Retirement and Unexpected Health Shocks (2019) Downloads
Working Paper: Retirement and Unexpected Health Shocks (2017) Downloads
Working Paper: Retirement and Unexpected Health Shocks (2017) Downloads
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