An Analysis of the Health and Retirement Status of the Elderly
Robin C. Sickles,Paul Taubman +1 more
TLDR
In this paper, a structural limited dependent variable model with which the health and retirement status of the elderly were studied was proposed and the full information maximum likelihood estimator for such a model was implemented in empirical analysis.Abstract:
in this paper we specify and estimate a structural limited dependent variable model with which we study both the health and retirement status of the elderly. Standard linear estimators, which assume that these variable sare continuous, are not appropriate and categorical estimation techniques are preferred. Our model differs from previous work in that we have longitudinal data and random effects that are correlated over time for different individuals. The problem is made more complicated because there is sample truncation, which could potentially bias coefficient estimates, since approximately twenty percent of the individuals in our sample die. We outline the full information maximum likelihood estimator for such a model and implement it in our empirical analysis. With our structural estimates we analyze, among other things, the degree to which endogeneously determined health status affects the probability of retirement and how changes in social security benefits and eligibility for transfer payments modify both healthiness and the demand for leisure.read more
Citations
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Book ChapterDOI
Measurement Error in Survey Data
TL;DR: While standard methods will not eliminate the bias when measurement errors are not classical, one can often use them to obtain bounds on this bias, and it is argued that validation studies allow us to assess the magnitude of measurement errors in survey data, and the validity of the classical assumption.
Posted Content
Health, health insurance and the labor market
Janet Currie,Brigitte C. Madrian +1 more
TL;DR: A review of the literature linking health and labor market behavior can be found in this article, with a focus on the U.S. and developing countries, where health is a major determinant of wages, hours and labor force participation.
ReportDOI
Self-Reported versus Objective Measures of Health in Retirement Models
TL;DR: In this paper, a statistical model incorporating both self-reported and objective measures of health shows the potential biases involved in using either measure or in using one to instrument the other, but the model is initially unidentified, but incorporating outside information on the validity of selfreported measures confirms fears about both the selfreported and the objective measures available on such data sets as the Retirement History Survey or the National Longitudinal Survey of Older Men.
Posted Content
Education and Nonmarket Outcomes
TL;DR: In this article, the effects of education on nonmarket outcomes from both theoretical and empirical perspectives are explored. But the focus is on identifying causal effects on education and on mechanisms via which these effects operate.
Posted Content
Health Problems as Determinants of Retirement: Are Self-Rated Measures Endogenous?
TL;DR: Using the Health and Retirement Study (HRS), it is found that health problems influence retirement plans more strongly than do economic variables.
References
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Journal ArticleDOI
Self-rated health: a predictor of mortality among the elderly.
J M Mossey,E Shapiro +1 more
TL;DR: Empirical support is provided for the long held, but inadequately substantiated, belief that the way a person views his health is importantly related to subsequent health outcomes.
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TL;DR: In this article, the authors point out that this is true only of standard quadrature techniques such as trapezoidal integration or its improved variants; Gaussian quadratures, on the other hand, is extremely efficient and is well within the bounds of computational feasibility on modern computers.
Journal ArticleDOI
The Greatest of a Finite Set of Random Variables
TL;DR: In this article, the authors present formulas and tables that permit approximations to the moments in case n > 2, where the moments are approximated by iteration of a three-parameter computation or, alternatively, through successive use of the threeparameter table, which is given.
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The Decline in Male Labor Force Participation
TL;DR: The rate of nonparticipation in market work among prime-aged males in the United States has risen persistently during the postwar period as mentioned in this paper, and the rate among males aged 45-54, for example, has risen fro...