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Is there a consensus on the health consequences of retirement? A literature review

Author

Listed:
  • Clémentine Garrouste

    (Legos - Laboratoire d'Economie et de Gestion des Organisations de Santé - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres, LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique)

  • Elsa Perdrix

    (Legos - Laboratoire d'Economie et de Gestion des Organisations de Santé - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres, LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique)

Abstract

We investigate the causal effect of retirement on health through literature. We explore the potential mechanisms which explain three effects: the switch from employment to retirement, later retirement, and earlier retirement. The empirical strategies used to identify the causal effects are mainly based on the observation of changes in health status at the legal age for retirement entitlement or on reforms that have led to changes in retirement incentives. Literature renders possible to make several observations on the average effect estimation. Retirement leads to better self-reported health, less depression, a decrease in healthcare consumption, a decline in cognition and an ambiguous effect on physical health. Later retirement has no effect on mortality, decreases healthcare consumption, and has a negative or non-significant impact on self-reported health. Studies on the impact of earlier retirement are scarce due to few natural experiments exploiting such a variation. Lastly, some studies find evidence of heterogeneous effects by gender and occupational status. As there are relatively few studies on this aspect, the question should be seriously explored in future research.

Suggested Citation

  • Clémentine Garrouste & Elsa Perdrix, 2021. "Is there a consensus on the health consequences of retirement? A literature review," Post-Print hal-03384922, HAL.
    • Handle: RePEc:hal:journl:hal-03384922
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    Citations

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    Cited by:

    1. Didier Blanchet, 2023. "Ageing, Pensions and Dependency – Introduction," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 538, pages 3-12.
    2. Eve Caroli & Catherine Pollak & Muriel Roger, 2023. "The Health-Consumption Effects of Increasing Retirement Age Late in the Game," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 538, pages 49-67.
    3. Barschkett, Mara & Geyer, Johannes & Haan, Peter & Hammerschmid, Anna, 2022. "The effects of an increase in the retirement age on health — Evidence from administrative data," The Journal of the Economics of Ageing, Elsevier, vol. 23(C).
    4. Anikó Bíró & Réka Branyiczki & Péter Elek, 2022. "The effect of involuntary retirement on healthcare use," Health Economics, John Wiley & Sons, Ltd., vol. 31(6), pages 1012-1032, June.

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