Health and labor market effects of an unanticipated rise in retirement age. Evidence from the 2012 Italian pension reform.
employment
health effects
pension reform
population aging
program substitution
retirement
Journal
Health economics
ISSN: 1099-1050
Titre abrégé: Health Econ
Pays: England
ID NLM: 9306780
Informations de publication
Date de publication:
12 2023
12 2023
Historique:
revised:
25
06
2023
received:
13
11
2022
accepted:
21
07
2023
medline:
6
11
2023
pubmed:
5
9
2023
entrez:
5
9
2023
Statut:
ppublish
Résumé
As retirement ages increase around the world, not all workers may be equally able to extend their working lives. In this article, we examine the health and labor market effects of an Italian pension reform that suddenly increased the normal retirement age up to 7 years for women and up to 2 years for men. To do this, we use linked labor and healthcare administrative data, jointly with survey data and difference-in-difference methods. Our results show that the reform was effective in postponing retirement among both genders, as pension claiming dropped substantially for older workers. However, there were also side effects as the reform significantly pushed previously employed men and women into unemployment and disability pension. Among women only, the reform also increased sick leave and hospitalizations related to mental health and injuries. These effects were driven by women with previously low health status, suggesting that undifferentiated and abrupt increases in pension age might harm more vulnerable workers. Coherently with the milder tightening of retirement age experienced by men, labor market responses were smaller in size, and they did not suffer any significant health effects.
Types de publication
Journal Article
Research Support, Non-U.S. Gov't
Langues
eng
Sous-ensembles de citation
IM
Pagination
2745-2767Informations de copyright
© 2023 The Authors. Health Economics published by John Wiley & Sons Ltd.
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