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Seminar

SeaTE: Subjective ex ante Treatment Effect of Health on Retirement

Econometrics/Applied Microeconomics Seminar

Add to calendar 2022-12-05 11:00 2022-12-05 12:15 Europe/Rome SeaTE: Subjective ex ante Treatment Effect of Health on Retirement Seminar Room 3rd Floor Villa La Fonte YYYY-MM-DD
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When

05 December 2022

11:00 - 12:15 CET

Where

Seminar Room 3rd Floor

Villa La Fonte

In this seminar, Pamela Giustinelli (Bocconi University) will present the paper "SeaTE: Subjective ex ante Treatment Effect of Health on Retirement."

The paper studies the effect of health on work among older workers using data on individuals' subjective probabilities of working to specified future horizons under alternative health states. It constructs within-person differences in work expectations across health states, interpretable as Subjective ex ante Treatment Effect (SeaTE) within potential outcomes, and document large SeaTE heterogeneity across individuals. Using standard discrete choice dynamic programming to derive health-contingent values of working longer, it shows that the revealed heterogeneity in taste for work biases regression-based estimates.

Finally, the health-contingent working probabilities are shown to strongly predict work given realized health after two years.

Co-author: Matthew D. Shapiro (University of Michigan and NBER)

Speaker(s):

Prof. Pamela Giustinelli (Bocconi University)

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