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DOES EARLY ACCESS TO PENSION WEALTH IMPROVE HEALTH?
Author(s) -
Kim Seonghoon,
Koh Kanghyock
Publication year - 2020
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/ecin.12903
Subject(s) - regression discontinuity design , pension , economics , regression , discontinuity (linguistics) , health and retirement study , identification (biology) , demographic economics , panel data , econometrics , finance , medicine , gerontology , psychology , mathematical analysis , botany , mathematics , pathology , psychoanalysis , biology
We examine the health impacts of early access to public pension wealth by exploiting a unique policy in Singapore allowing individuals to withdraw a proportion of their pension savings after their 55th birthday. For the identification, we employ a regression discontinuity design by comparing individuals before and after their 55th birthday. To address anticipated and lagged health impacts, we adopt the donut regression discontinuity approach. Using nationally representative monthly panel data, we find that early access to pension wealth improves self‐reported overall health. ( JEL I10, H55, D15)