Early Retirement and Public Disability Insurance Applications: Exploring the Impact of Depression

Rena Conti, Ernst R. Berndt and Richard G. Frank

No 12237, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper investigates the impact of depression on labor force participation among older workers. Empirically, we use two analytic strategies and rely on a sample drawn from the Health and Retirement Survey. Depression directly and indirectly increases individuals' probability of retiring early and applying for DI benefits, after accounting for other predictors of labor force exit. Accounting for the independent effects of depression, disability associated with physical illness may be smaller than the official statistics suggest. There may be great economic gains in increasing depression treatment awareness and access to treatment for individuals, employers and society.

JEL-codes: I12 J21 (search for similar items in EconPapers)
Date: 2006-05
New Economics Papers: this item is included in nep-ias
Note: AG EH PE
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Citations: View citations in EconPapers (12)

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