Do the sick retire early? Chronic illness, asset accumulation and early retirement
Applied Economics, ISSN: 0003-6846, Vol: 39, Issue: 15, Page: 1921-1936
2007
- 23Citations
- 40Usage
- 37Captures
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
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Metrics Details
- Citations23
- Citation Indexes22
- 22
- CrossRef15
- Policy Citations1
- Policy Citation1
- Usage40
- Downloads36
- Abstract Views4
- Captures37
- Readers37
- 37
Article Description
Our objective is to determine how chronic illness affects asset accumulation and retirement. Previous studies have found that poor health leads to early retirement, but those studies failed to look at the indirect impact of chronic illness on retirement. Using data from the Health and Retirement Study, we define an illness as chronic if the individual reports having asthma, cancer, heart disease, stroke or diabetes for four or more years. We first estimate how a chronic illness influences asset accumulation. We then estimate how asset accumulation and current poor health influence retirement. We observe that the vast majority of the chronically ill population do not report their general health to be poor nor do they report functional limitations in activities of daily living. Nevertheless, our results indicate that chronic illness leads these people to accumulate fewer assets during their working years and consequently retire later. Neither researchers nor policy-makers discussing the many critical issues surrounding illness and retirement have addressed this issue.
Bibliographic Details
http://www.scopus.com/inward/record.url?partnerID=HzOxMe3b&scp=34547937125&origin=inward; http://dx.doi.org/10.1080/00036840600690165; http://www.tandfonline.com/doi/abs/10.1080/00036840600690165; http://www.tandfonline.com/doi/pdf/10.1080/00036840600690165; https://huskiecommons.lib.niu.edu/allfaculty-peerpub/829; https://huskiecommons.lib.niu.edu/cgi/viewcontent.cgi?article=1828&context=allfaculty-peerpub
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