Financial Incentives, Health and Retirement in Spain
In this work we combine wage data from Social Security working histories and health information available in the Survey of Health and Retirement in Europe to explore the link between health, financial incentives and retirement in Spain. Our results show that individuals in worse health quintiles are, indeed, the more responsive to financial incentives as they prove to be less likely to retire when incentives to continue working increase.
We thank the Ministerio de Ciencia e Innovación for financial support (research project #ECO2011-30323-C03-02). García-Gómez is a Postdoctoral Fellows of the Netherlands Organization for Scientific Research -Innovational Research Incentives Scheme -Veni. Vall-Castelló thankfully acknowledges financial support from the Centre Cournot for Economic Research in Paris. This paper uses data from SHARE wave 4 release 1.1.1, as of March 28th 2013 or SHARE wave 1 and 2 release 2.5.0, as of May 24th 2011 or SHARELIFE release 1, as of November 24th 2010. The SHARE data collection has been primarily funded by the European Commission through the 5th Framework Programme (project QLK6-CT-2001-00360 in the thematic programme Quality of Life), through the 6th Framework Programme (projects SHARE-I3, RII-CT-2006-062193, COMPARE, CIT5-CT-2005-028857, and SHARELIFE, CIT4-CT-2006-028812) and through the 7th Framework Programme (SHARE-PREP, N° 211909, SHARE-LEAP, N° 227822 and SHARE M4, N° 261982). Additional funding from the U.S. National Institute on Aging (U01 AG09740-13S2, P01 AG005842, P01 AG08291, P30 AG12815, R21 AG025169, Y1-AG-4553-01, IAG BSR06-11 and OGHA 04-064) and the German Ministry of Education and Research as well as from various national sources is gratefully acknowledged (see www.share-project.org for a full list of funding institutions). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
Judit Vall Castelló
I thankfully acknowledge financial support from the Centre Cournot for Economic Research in Paris.
Financial Incentives, Health, and Retirement in Spain, Pilar García-Gómez, Sergi Jiménez-Martín, Judit Vall Castelló. in Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement, Wise. 2016