Work Expectations, Realizations, and Depression in Older Workers

18 Pages Posted: 27 Oct 2008 Last revised: 12 Jun 2022

See all articles by Tracy Falba

Tracy Falba

Duke University - Department of Economics

Bill Gallo

Yale University

Jody L. Sindelar

Yale University - School of Public Health

Date Written: October 2008

Abstract

We explore the impact on depressive symptoms of deviation in actual labor force behavior at age 62 from earlier expectations. Our sample of 4,241 observations is drawn from the Health and Retirement Study (HRS). We examine workers who were less than 62 years of age at the 1992 HRS baseline, and who had reached age 62 by our study endpoint, enabling comparison of actual labor force withdrawal with earlier expectations. Poisson regression were used to estimate the impact of expected full-time work status on depressive symptoms; regressions are estimated separately for those working fulltime at age 62 and those not working fulltime. We found significant effects on depression at age 62 both for full-time workers who expected not to be working full-time, and for participants not working full-time who expected to be doing so. These results hold even after adjustment for earlier depressive symptoms, sociodemographic and other relevant controls. The findings suggest that working longer and retiring earlier than expected each may compromise psychological well-being. The current financial crisis may result in both scenarios as some workers may have to work longer than expected due to the decline in pension and other wealth while others may retire earlier due to job loss.

Suggested Citation

Falba, Tracy and Gallo, William and Sindelar, Jody L., Work Expectations, Realizations, and Depression in Older Workers (October 2008). NBER Working Paper No. w14435, Available at SSRN: https://ssrn.com/abstract=1289669

Tracy Falba

Duke University - Department of Economics ( email )

213 Social Sciences Building
Box 90097
Durham, NC 27708-0204
United States

William Gallo

Yale University ( email )

PO Box 208034
60 College Street
New Haven, CT 06520-8034
United States
(203) 785-2854 (Phone)
(203) 785-6287 (Fax)

Jody L. Sindelar (Contact Author)

Yale University - School of Public Health ( email )

PO Box 208034
60 College Street
New Haven, CT 06520-8034
United States
203-785-5287 (Phone)
203-785-6287 (Fax)

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