The impact of Social Security income on cognitive function at older ages

Padmaja Ayyagari; David E Frisvold

doi:10.3386/w21484

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The impact of Social Security income on cognitive function at older ages

Working paper

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The impact of Social Security income on cognitive function at older ages

Padmaja Ayyagari and David E Frisvold

NBER working paper series, Vol.21484

National Bureau of Economic Research

08/2015

DOI: 10.3386/w21484

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Abstract

Prior literature has documented a positive association between income and cognitive function at older ages, however, the extent to which this association represents causal effects is unknown. In this study, we use an exogenous change in Social Security income due to amendments to the Social Security Act in the 1970s to identify the causal impact of Social Security income on cognitive function of elderly individuals. We find that higher benefits led to significant improvements in cognitive function and that these improvements in cognition were clinically meaningful. Our results suggest that interventions even at advanced ages can slow the rate of decline in cognitive function. Includes bibliographical references (pages 23-31).

Older People

Age factors

Cognition

Econometric models

Finance, Personal

Psychological aspects

Social security beneficiaries

Details

Title: Subtitle: The impact of Social Security income on cognitive function at older ages
Creators: Padmaja Ayyagari
David E Frisvold
Resource Type: Working paper
Publication Details: NBER working paper series, Vol.21484
DOI: 10.3386/w21484
Publisher: National Bureau of Economic Research; Cambridge, Massachusetts
Number of pages: 42 pages
Language: English
Date posted: 08/2015
Academic Unit: Economics; Public Policy Center (Archive)
Record Identifier: 9984318244802771

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