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Retirement and loneliness

Author

Listed:
  • Guthmuller, Sophie
  • Heger, Dörte
  • Hollenbach, Johannes
  • Werbeck, Anna

Abstract

We investigate the short- and long-term effects of retirement on loneliness using panel data from the Survey of Health, Aging, and Retirement in Europe. To estimate causal effects, we exploit differences in retirement eligibility rules across and within countries and use retirement thresholds in an instrumental variable setting. On average, we find that entering retirement leads to a significant reduction in loneliness in the long run, although our results show no clear effect in the short run. The reduction is driven by individuals being less likely to feel socially isolated and lacking companionship. Our results suggest that individuals adapt to retirement by increasing their activity levels and reap the benefits in terms of reduced loneliness and social isolation. Heterogeneity analysis by gender reveals that retirement increases feelings of loneliness for women in the short term, and that this effect appears to be driven by women lacking companionship when their partner is not yet retired.

Suggested Citation

  • Guthmuller, Sophie & Heger, Dörte & Hollenbach, Johannes & Werbeck, Anna, 2023. "Retirement and loneliness," Ruhr Economic Papers 1048, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    • Handle: RePEc:zbw:rwirep:282008
    DOI: 10.4419/96973217
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    References listed on IDEAS

    as
    1. Godard, Mathilde, 2016. "Gaining weight through retirement? Results from the SHARE survey," Journal of Health Economics, Elsevier, vol. 45(C), pages 27-46.
    2. Schmitz, Hendrik & Westphal, Matthias, 2021. "The dynamic and heterogeneous effects of retirement on cognitive decline," Ruhr Economic Papers 918, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    3. Aspen Gorry & Devon Gorry & Sita Nataraj Slavov, 2018. "Does retirement improve health and life satisfaction?," Health Economics, John Wiley & Sons, Ltd., vol. 27(12), pages 2067-2086, December.
    4. Michael Insler, 2014. "The Health Consequences of Retirement," Journal of Human Resources, University of Wisconsin Press, vol. 49(1), pages 195-233.
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    More about this item

    Keywords

    Loneliness; social isolation; retirement; instrumental variable; causal effect;
    All these keywords.

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • I10 - Health, Education, and Welfare - - Health - - - General

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