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Pension Policies, Retirement and Human Capital Depreciation in Late Adulthood

Plamen Nikolov () and Alan Adelman ()
Additional contact information
Plamen Nikolov: Harvard Institute for Quantitative Social Science
Alan Adelman: State University of New York

No 13932, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Economists have mainly focused on human capital accumulation and considerably less on the causes and consequences of human capital depreciation in late adulthood. Studying human capital depreciation over the life cycle has powerful economic consequences for decision-making in old age. Using data from China, we examine how a new retirement program affects cognitive performance. We find large negative effects of pension benefits on cognitive functioning among the elderly. We detect the most substantial impact of the program on delayed recall, a significant predictor of the onset of dementia. We show suggestive evidence that the program leads to larger negative impacts among women. We demonstrate that retirement and access to a retirement pension plan plays a significant role in explaining cognitive decline at older ages.

Keywords: cognitive functioning; cognition; aging; health; mental retirement; middle-income countries; life cycle; LMICs; developing countries; China (search for similar items in EconPapers)
JEL-codes: H55 H75 J24 J26 O12 O15 (search for similar items in EconPapers)
Pages: 61 pages
Date: 2020-12
New Economics Papers: this item is included in nep-age, nep-cna, nep-hea, nep-lma and nep-neu
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