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To Work or Not to Work? The Effect of Higher Pension Age on Cardiovascular Health
Author(s) -
Ardito Chiara,
Leombruni Roberto,
Blane David,
d’Errico Angelo
Publication year - 2020
Publication title -
industrial relations: a journal of economy and society
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.61
H-Index - 57
eISSN - 1468-232X
pISSN - 0019-8676
DOI - 10.1111/irel.12257
Subject(s) - endogeneity , pension , social security , instrumental variable , quarter (canadian coin) , work (physics) , disability pension , demographic economics , economics , medicine , labour economics , gerontology , environmental health , finance , geography , econometrics , population , archaeology , engineering , market economy , mechanical engineering
This study investigates the effect of pension age on hospitalization for cardiovascular diseases using administrative social security and hospital discharge records in Italy. The endogeneity of the retirement decision is addressed using an instrumental variable strategy exploiting the exogenous variation in pension age determined by quarter of birth. Results indicate a detrimental effect of higher pension age only for retirees who, before retirement, were suffering worse health and were employed in lower quality and more physically demanding jobs. Among them, a 1‐year delay in pension claiming increases the risk of hospitalization for cardiovascular diseases by approximately 2.6 percentage points.