Subjective Health Assessments and Active Labor Market Participation of Older Men : Evidence from a Semiparametric Binary Choice Model with Nonadditive Correlated Individualspecific Effects


Maurer, Jürgen ; Klein, Roger ; Vella, Francis


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URL: https://ub-madoc.bib.uni-mannheim.de/2081
URN: urn:nbn:de:bsz:180-madoc-20810
Document Type: Working paper
Year of publication: 2008
The title of a journal, publication series: MEA Discussion Papers
Volume: 169
Place of publication: Mannheim
Publication language: English
Institution: School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series: Veröffentlichungen des MEA (Mannheim Research Institute For the Economics of Aging) > MEA Discussion Papers
Subject: 330 Economics
Classification: JEL: C30 C14 J26 J10 I10 ,
Subject headings (SWD): Gesundheit , Ruhestand , Älterer Mann
Abstract: We use panel data from the US Health and Retirement Study 1992-2002 to estimate the effect of self-assessed health limitations on active labor market participation of men around retirement age. Self-assessments of health and functioning typically introduce an endogeneity bias when studying the effects of health on labor market participation. This results from justification bias, reflecting an individual’s tendency to provide answers which "justify" his labor market activity, and individual-specific heterogeneity in providing subjective evaluations. We address both concerns. We propose a semiparametric binary choice procedure which incorporates potentially nonadditive correlated individual-specific effects. Our estimation strategy identifies and estimates the average partial effects of health and functioning on labor market participation. The results indicate that poor health and functioning play a major role in the labor market exit decisions of older men.

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Maurer, Jürgen ; Klein, Roger ; Vella, Francis (2008) Subjective Health Assessments and Active Labor Market Participation of Older Men : Evidence from a Semiparametric Binary Choice Model with Nonadditive Correlated Individualspecific Effects. Open Access MEA Discussion Papers Mannheim 169 [Working paper]
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