Estimates of effect of health on employment differ from study to study due to differences in methods, data, institutional background and health measure. We assess the importance of these differences, using a unified framework to interpret and contrast estimate for the US and England. We find that subjective and objective health measures, and subjective measures instrumented by objective measures produce similar estimates but only if a sufficiently large number of objective measures is used. Otherwise, objective measures produce downward biased estimates. Failure to account for initial conditions produces upward biased estimates. We find that a single subjective health index yields similar estimates to multiple measures. Overall, declines in health explain up to 15% of the decline in employment between ages 50 and 70. The effects drop with education and are larger in the US than in England. Cognition has little added explanatory power once we control for health.

中文翻译：

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健康对临近退休的劳动力供应的影响

由于方法、数据、机构背景和健康措施的不同，对健康对就业影响的估计因研究而异。我们评估这些差异的重要性，使用统一的框架来解释和对比美国和英国的估计。我们发现主观和客观健康措施以及由客观措施构成的主观措施会产生相似的估计，但前提是使用了足够多的客观措施。否则，客观测量会产生向下偏差的估计。不考虑初始条件会产生向上偏差的估计。我们发现单个主观健康指数对多个测量产生相似的估计。总体而言，50 岁至 70 岁之间的就业下降中，高达 15% 的原因是健康状况下降。这种影响随着教育而下降，在美国比在英国更大。一旦我们控制了健康，认知就几乎没有额外的解释力。