Date of Award
8-2024
Document Type
Thesis
Degree Name
Master of Science (MS)
Department
Economics
Committee Chair/Advisor
Devon Gorry
Committee Member
Matthew S. Lewis
Committee Member
Robert K. Fleck
Abstract
Retirement date decisions are crucial for seniors. It is influenced by financial situation, health status, family conditions, planning for the rest of the life, etc. While some literature emphasizes economic well-being as a critical determinant, recent research suggests that health status is a more significant factor in retirement decisions. This thesis explores how variations in health status influence retirement decisions using panel data from the Health and Retirement Study (HRS). Building on the extensive use of HRS data in previous studies, this research expands their approaches and methodologies. Both subjective and objective health variables are utilized to address the potential justification bias. Lagged health variables are employed to examine the impact of pre-retirement health on current retirement choices. Fixed effects models are also used to control for potential omitted variable bias. The findings indicate that poor pre-retirement health significantly increases the likelihood of retirement compared to excellent health across all specifications. Moreover, subjective health measures remain significant even when objective health measures are included.
Recommended Citation
Parvizi Cherri, Elham, "How Variations in Health Status Influence Retirement Decisions?" (2024). All Theses. 4349.
https://open.clemson.edu/all_theses/4349