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KMID : 0904520200530010031
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Health and Medical Sociology
2020 Volume.53 No. 1 p.31 ~ p.54
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Effects of Retirement on Cognitive Functions
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Lim Tae-Jun
Lee Jung-Taek
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Abstract
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This study considers the effect of retirement on cognitive function. In addition to this, we also investigate the effect of voluntary or involuntary retirement. Using the Korean Longitudinal Study of Ageing (KLoSA) for the sample period from 2006 to 2016, I exploit a fixed effect model to control for the omitted variable bias. Moreover, to overcome reverse causality (e.g. the low cognitive function leads to retirement), I exclude individuals who has minor impairments on cognitive function in the sample for robustness. This study finds that retirees who retired at their own will experience less decrease in cognitive function relative to involuntary retirees. To reduce a decline in cognitive function for the retirees, a wider range of policies for social and volunteer activities and paid jobs should be provided to the retirees.
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KEYWORD
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Retirement, Cognitive Function, Endogeneity, Fixed Effect Model
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