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Longitudinal Study: HILDA
Title: Health and Retirement among Older Workers
Authors: Jones, A 
Harris, A 
Rice, N 
Zucchelli, E 
Institution: Health, Econometrics and Data Group
Publication Date: Aug-2007
Pages: 42
Keywords: discrete time hazard model
health shocks
Abstract: This paper investigates the causal relationship between ill-health and retirement among older working individuals. We represent the transition to retirement as a discrete-time hazard model using a stocksample from the first five waves (2001-2005) of the Household, Income and Labour Dynamics in Australia (HILDA) Survey. Our results show that health plays an important role in individual retirement decisions and that negative shocks to health greatly increase the hazard of retirement, especially for men. This is true for both a measure of health limitations and a measure of latent health obtained using pooled ordered probit models, as well as for three alternative health shock measures. We also consider the effects of partners’ health and labour market status on an individual’s retirement decision. Our estimates suggest that partners’ characteristics do not significantly influence individual retirement choices.
ISBN: ISSN 1751-1976
Research collection: Reports and technical papers
Appears in Collections:Reports

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