SMU SOE Seminar Series (July 29, 2024): Short-term Mortality Impact of Public Pension Programs: Evidence from South Korea

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ABSTRACT

We examine the short-term impact of pension income receipt on mortality within the monthly payment cycle. Using the national death registry data of South Korea, we document that the mortality rate decreases by 1.2–1.4 percent in the week of the disbursement date. The mortality reducing effects are larger for causes of death that could have been avoided through timely and effective healthcare interventions and among those with lower educational attainment. We provide suggestive evidence of greater mortality-reducing effects from a smaller but more frequent disbursement than from a monthly disbursement.

Keywords: Public Pension, Mortality, Older Adults, Card Spending, Healthcare Utilization

JEL Codes: H55, I18, I38

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