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KMID : 1124020140300030183
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Korean Social Security Studies
2014 Volume.30 No. 3 p.183 ~ p.214
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Impact of Health on Labor Force Participation Among Older Koreans
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Lee Eun-Kyeong
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Abstract
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Using the 3rd and 4th waves of the KLoSA (Korean Longitudinal Study of Ageing), this paperempirically examines the impact of health on labor force participation among adults aged 50 to 64. The main independent variables include self-assessed health, ADL, IADL, and number of chronicdiseases, while the dependent variable is an indicator that denotes whether a person is currently working or not. We find that improved health of older workers (50~64 years old) does increase their labor force participation by 7% in probit models, and 51% in IV probit models. Endogeneity of the self-assessed health measure is corrected by using two instrument variables (grip strength and BMI). Several robustness tests are conducted, which examine potential confounding effects of gender, occupation, wealth, and re-employment. The main results are consistent after considering these various factors. Also, our findings suggest that health conditions, rather than wealth or income, have more significant impacts on the labor force participation decision among older Koreans
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KEYWORD
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self-assessed health, labor force participation, ageing and employment policies for older people
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