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Sick of work or too sick to work? Evidence on health shocks and early retirement from the BHPS

By N. Rice, J. Roberts and A.M. Jones

Abstract

We follow individuals as they retire using discrete-time hazard models applied to a stock sample from 12 waves of the British Household Panel Survey. Results confirm that health shocks are a determinant of retirement age and are quantitatively more important than pension entitlement. This is the case for both men and women and is observed for both a measure of health limitations and a measure of latent health status obtained from a generalized ordered probit model. Further, our results provide evidence that, for women, the health status of their partner impacts on their retirement decisions; an effect that is not evident for men. \u

Publisher: Department of Economics, University of Sheffield
Year: 2007
OAI identifier: oai:eprints.whiterose.ac.uk:9959

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