Retirement and health investment behaviors: An international comparison

Hiroyuki Motegi*, Yoshinori Nishimura, Masato Oikawa

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

5 Citations (Scopus)


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.

Original languageEnglish
Article number100239
JournalJournal of the Economics of Ageing
Publication statusPublished - 2020 Oct


  • Aging population
  • Global aging data
  • Health investment behaviors
  • Health outcomes
  • Heterogeneity
  • Retirement

ASJC Scopus subject areas

  • Economics and Econometrics
  • Life-span and Life-course Studies


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