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Retirement and Health Investment Behaviors: An International Comparison

Motegi, Hiroyuki and Nishimura, Yoshinori and Oikawa, Masato (2019): Retirement and Health Investment Behaviors: An International Comparison.

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Abstract

This study aims to better understand the effects of retirement on health outcomes, which is of great interest worldwide, by examining the effects of retirement on health investment behaviors. To this end, we conducted a large-scale international comparison of the changes in health investment behaviors after retirement among the populations of seven developed countries using Global Aging Data, exploiting differences in the financial incentives in the pension systems of each country as our identification strategy. The results show that while elderly change their health investment behaviors in some way after retirement, the patterns of the changes in many health investment behaviors differ across each country. Further, a review of the literature and our results suggest that health investment behaviors are not necessarily determinants of the effects of retirement on health.

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