Does Working Longer Make People Healthier and Happier?

Calvo, Esteban

doi:10.2139/ssrn.2302705

Cited by 51 publications

(54 citation statements)

References 17 publications

(10 reference statements)

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“…Studies document the negative well-being effects of involuntary retirement in Germany (Bonsang and Klein, 2012) and the U.S. (Bender 2012;Calvo et al 2009). Calvo (2006) shows that late-life work is positive for well-being overall, but undesirable work (i.e., jobs that have excessive demands or cause dissatisfaction) impacts moods and mortality. 5 Life satisfaction and morale among male retirees, for example, increase during the first years of retirement (Kim and Moen 2002;Gall et al 1997) possibly because retirees take advantage of their free time to pursue their interests and hobbies.…”

Section: Endnotesmentioning

confidence: 99%

“…Finally, late-life work can be beneficial for older employees as well. Research shows that late-life work has a positive effect on well-being in the U.S. (Calvo 2006) while involuntary retirement decreases well-being in the U.S. and Germany (Bonsang and Klein 2012;Calvo et al 2009). From a general equilibrium perspective, phased-in retirement constitutes an increase in the supply of older workers, which decreases their wages.…”

Section: Introductionmentioning

confidence: 99%

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Employment, late-life work, retirement, and well-being in Europe and the United States

Nikolova

Graham

2014

IZA J Labor Stud

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Flexible work arrangements and retirement options provide one solution for the challenges of unemployment and underemployment, aging populations, and unsustainable public pension systems in welfare states around the world. We examine the relationships between well-being and job satisfaction on the one hand and employment status and retirement, on the other, using Gallup World Poll data for several European countries and the United States. We find that voluntary part-time workers are happier, experience less stress and anger, and have higher job satisfaction than other employees. Using statistical matching, we show that late-life workers under voluntary part-time or full-time arrangements have higher well-being than retirees. There is no well-being premium for involuntary late-life work and self-employment compared to retirement, however. Our findings inform ongoing debates about the optimal retirement age and the fiscal burdens of public pension systems.

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Section: Endnotesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Employment, late-life work, retirement, and well-being in Europe and the United States

Nikolova

Graham

2014

IZA J Labor Stud

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“…After controlling for the decline in health and the loss of social roles and loved ones that comes with aging, neither longitudinal nor cross-sectional studies find a substantial relationship 15 For example, Calvo (2006) andChoi (2001). 16 Batles and Batles (1986); Lachman and Weaver (1998);Reis, Sheldon, Gable, Roscoe and Ryan (2000); Rodin (1986);Sweeney, Anderson and Bailey (1986).…”

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confidence: 99%

What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?

2007

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“…Working to an older age could have a number of positive effects on physical and psychological well-being for many individuals, probably through engagement in work-related productive and social activities (Calvo 2006). Older adults whose work patterns reflect their personal preferences are more likely to report higher levels of physical and psychological well-being than those whose involvement in work is not under their control (Herzog et al 1991).…”

Section: Health Benefits Of Work and Retirementmentioning

confidence: 99%

Older Americans Employment and Retirement

2012

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This paper reviews the recent changes in labor force participation and withdrawal in the United States and examines some of possible reasons for the changes. Nowadays, many older Americans are extending their work lives and delaying retirement. This longer work life is accompanied by the emergence of new patterns of retirement, such as gradual retirement, phrased retirement, and unretirement. Generally, highly-educated, male workers and divorced urban women tend to continue working past traditional retirement age. Significant social, demographic, and economic changes have contributed to the trend toward continued labor force participation and later retirement. Greater life expectancy and improved health status enable older workers to extend their working lives. Some older Americans choose to work longer due to policy changes such as the elimination of mandatory retirement, work incentives provided in the Social Security, the shift to definedcontribution pension plans, and the erosion of retiree health insurance along with economic recessions. Finally, the paper discusses the potential health benefits linked with extended working lives and the challenges faced by older workers, especially those with socioeconomic disadvantages.

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Does Working Longer Make People Healthier and Happier?

Cited by 51 publications

References 17 publications

Employment, late-life work, retirement, and well-being in Europe and the United States

Employment, late-life work, retirement, and well-being in Europe and the United States

What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?

Older Americans Employment and Retirement

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