TY - JOUR
T1 - Retirement and health investment behaviors
T2 - An international comparison
AU - Motegi, Hiroyuki
AU - Nishimura, Yoshinori
AU - Oikawa, Masato
N1 - Funding Information:
/SHARE.w5.100), see Börsch-Supan et al. (2013) for methodological details. The SHARE data collection has been primarily funded by the European Commission through FP5 (QLK6-CT-2001–00360), FP6 (SHARE-I3: RII-CT-2006–062193, COMPARE: CIT5-CT-2005.
Funding Information:
-028857, SHARELIFE: CIT4-CT-2006–028812) and FP7 (SHARE-PREP: N°211909, SHARE-LEAP: N°227822, SHARE M4: N°261982). Additional funding from the German Ministry of Education and Research, the U.S. National Institute on Aging (U01_AG09740-13S2, P01_AG00
Funding Information:
The authors would like to thank the editor and two anonymous referees specially for their valuable feedback. We would also like to thank Peter Eibich, Yuji Genda, Michael Hurd, Hidehiko Ichimura, Yasushi Iwamoto, Daiji Kawaguchi, Salar Jahedi, Haruko Noguchi, Bryan Tysinger and participants at the Gateway to Global Aging Data Research Conference, funded by the National Institute on Aging (2R01 AG030153), the 2017 ASSA Annual Meeting, Japanese Economic Association Autumn Meeting 2016, Comparative International Research Based on the HRS Family of Data, Tokyo Labor Economics Conference at Hitotsubashi University, the National Institute of Population and Social Security Research, Conference for Cross-Country Analysis of Retirement, Health and Well-Being at University of Southern California and seminar at Kobe University for their helpful comments on this paper and an earlier version titled ?Examining the Changes in Health Investment Behavior After Retirement: A Harmonized Analysis?. We would also like to thank Kazuyuki Terada for his extensive support of this research. This research is also partially supported by the Grants-in-Aid for Scientific Research [Research project number: 13J09809 and 19J01042 ] of the Japan Society for the Promotion of Science (JSPS) Fellows by the Ministry of Education, Science and Culture in Japan and Recruit Works Institute. Editing services have been provided by Philip C. MacLellan. The authors are responsible for all remaining errors and interpretations. The views expressed in this paper are completely personal and unrelated to those of any organizations with which we are affiliated or those who commented on this study. The HRS (Health and Retirement Study) is sponsored by the National Institute on Aging (Grant No. NIA U01AG009740) and is conducted by the University of Michigan. The ELSA (English Longitudinal Study of Ageing) is funded by the US National Institute on Ageing and a consortium of UK government departments coordinated by the Office for National Statistics. This paper uses data from SHARE Waves 1, 2, 3 (SHARELIFE), 4 and 5 (DOIs: 10.6103/SHARE.w1.260, 10.6103/SHARE.w2.260, 10.6103/SHARE.w3.100, 10.6103/SHARE.w4.111, 10.6103. /SHARE.w5.100), see B?rsch-Supan et al. (2013) for methodological details. The SHARE data collection has been primarily funded by the European Commission through FP5 (QLK6-CT-2001?00360), FP6 (SHARE-I3: RII-CT-2006?062193, COMPARE: CIT5-CT-2005. -028857, SHARELIFE: CIT4-CT-2006?028812) and FP7 (SHARE-PREP: N?211909, SHARE-LEAP: N?227822, SHARE M4: N?261982). Additional funding from the German Ministry of Education and Research, the U.S. National Institute on Aging (U01_AG09740-13S2, P01_AG00, 5842, P01_AG08291, P30_AG12815, R21_AG025169, Y1-AG-4553?01, IAG_BSR06-11, OGHA_04-064$) and from various national funding sources is gratefully acknowledged (see www.share-project.org). The Japanese Study of Aging and Retirement (JSTAR) is conducted by the Research Institute of Economy, Trade and Industry (RIETI), Hitotsubashi University, and the University of Tokyo.
Funding Information:
The authors would like to thank the editor and two anonymous referees specially for their valuable feedback. We would also like to thank Peter Eibich, Yuji Genda, Michael Hurd, Hidehiko Ichimura, Yasushi Iwamoto, Daiji Kawaguchi, Salar Jahedi, Haruko Noguchi, Bryan Tysinger and participants at the Gateway to Global Aging Data Research Conference, funded by the National Institute on Aging (2R01 AG030153), the 2017 ASSA Annual Meeting, Japanese Economic Association Autumn Meeting 2016, Comparative International Research Based on the HRS Family of Data, Tokyo Labor Economics Conference at Hitotsubashi University, the National Institute of Population and Social Security Research, Conference for Cross-Country Analysis of Retirement, Health and Well-Being at University of Southern California and seminar at Kobe University for their helpful comments on this paper and an earlier version titled “Examining the Changes in Health Investment Behavior After Retirement: A Harmonized Analysis”. We would also like to thank Kazuyuki Terada for his extensive support of this research. This research is also partially supported by the Grants-in-Aid for Scientific Research [Research project number: 13J09809 and 19J01042 ] of the Japan Society for the Promotion of Science (JSPS) Fellows by the Ministry of Education, Science and Culture in Japan and Recruit Works Institute. Editing services have been provided by Philip C. MacLellan. The authors are responsible for all remaining errors and interpretations. The views expressed in this paper are completely personal and unrelated to those of any organizations with which we are affiliated or those who commented on this study.
Funding Information:
The HRS (Health and Retirement Study) is sponsored by the National Institute on Aging (Grant No. NIA U01AG009740) and is conducted by the University of Michigan.
Publisher Copyright:
© 2020 Elsevier B.V.
PY - 2020/10
Y1 - 2020/10
N2 - This study aims to better understand the effects of retirement on health outcomes through a large-scale cross-country study of the changes in health investment behaviors after retirement among the populations of seven developed countries. Much of the literature on retirement health consists of single-country studies which generally find that health investment behaviors are effective predictors of health outcomes. However, using Global Aging Data normalized to facilitate cross-country comparison, and exploiting differences in the financial incentives in the pension systems across countries as our identification strategy, we find that, even with a careful accounting of the differences in baseline retirement ages, the elderly do not uniformly change their health investment behaviors in retirement. Therefore, in a cross-country framework, health investment behaviors are not necessarily good predictors of health in retirement.
AB - This study aims to better understand the effects of retirement on health outcomes through a large-scale cross-country study of the changes in health investment behaviors after retirement among the populations of seven developed countries. Much of the literature on retirement health consists of single-country studies which generally find that health investment behaviors are effective predictors of health outcomes. However, using Global Aging Data normalized to facilitate cross-country comparison, and exploiting differences in the financial incentives in the pension systems across countries as our identification strategy, we find that, even with a careful accounting of the differences in baseline retirement ages, the elderly do not uniformly change their health investment behaviors in retirement. Therefore, in a cross-country framework, health investment behaviors are not necessarily good predictors of health in retirement.
KW - Aging population
KW - Global aging data
KW - Health investment behaviors
KW - Health outcomes
KW - Heterogeneity
KW - Retirement
UR - http://www.scopus.com/inward/record.url?scp=85081202010&partnerID=8YFLogxK
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U2 - 10.1016/j.jeoa.2020.100239
DO - 10.1016/j.jeoa.2020.100239
M3 - Article
AN - SCOPUS:85081202010
SN - 2212-828X
VL - 17
JO - Journal of the Economics of Ageing
JF - Journal of the Economics of Ageing
M1 - 100239
ER -