title: Economic Downturns, Retirement and Long-Term Cognitive Function Among Older Americans.
abstract: Workers approaching retirement may be particularly vulnerable to economic downturns. This study assesses whether exposure to economic downturns around retirement age leads to poorer cognitive function in later life.
  
  
  
  Longitudinal data for 13,577 individuals in the Health and Retirement Study were linked to unemployment rates in state of residence. Random- and fixed-effect models were used to examine whether downturns at 55-64 years of age were associated with cognitive functioning levels and decline at ≥65 years, measured by the Wechsler Adult Intelligence Scale-Revised.
  
  
  
  Longer exposure to downturns at 55-64 years of age was associated with lower levels of cognitive function at ≥65 years. Compared to individuals experiencing only up to 1 year in a downturn at 55-64 years of age, individuals experiencing two downturns at these ages had 0.09 point (95% Confidence Interval [CI, -0.17, -0.02]) lower cognitive functioning scores at ≥65 years (3 years: b = -0.17, 95%CI [-0.29, -0.06]; 4 years: b = -0.14, 95%CI [-0.25, -0.02]; ≥5 years: b = -0.22, 95%CI [-0.38, -0.06]). Downturns at 55-64 years of age were not associated with rates of cognitive decline.
  
  
  
  Exposure to downturns around retirement is associated with a long-lasting decline in cognitive function in later life. Policies mitigating the impact of downturns on older workers may help to maintain cognitive function in later life.
authors.affiliation: Harvard University, Center for Population and Development Studies, Cambridge, Massachusetts.|Universidad de los Andes, Escuela de Gobierno Alberto Lleras Camargo, Bogotá, Colombia.
authors.forename: Philipp
authors.initials: P
authors.lastname: Hessel
authors.affiliation: Harvard T.H. Chan School of Public Health, Department of Global Health, Boston, Massachusetts.
authors.forename: Carlos J
authors.initials: CJ
authors.lastname: Riumallo-Herl
authors.affiliation: University of Luxembourg, PEARL Institute for Research on Socio-Economic Inequality, Luxembourg.
authors.forename: Anja K
authors.initials: AK
authors.lastname: Leist
authors.affiliation: Harvard University, Center for Population and Development Studies, Cambridge, Massachusetts.|Harvard T.H. Chan School of Public Health, Department of Social and Behavioral Sciences, Boston, Massachusetts.
authors.forename: Lisa F
authors.initials: LF
authors.lastname: Berkman
authors.affiliation: Harvard T.H. Chan School of Public Health, Department of Social and Behavioral Sciences, Boston, Massachusetts.|King's College London, Department of Global Health and Social Medicine, UK.
authors.forename: Mauricio
authors.initials: M
authors.lastname: Avendano
mesh_terms: D000367:Age Factors; D000368:Aged; D060825:Cognitive Dysfunction / Q000191:economics / Q000453:epidemiology* / Q000209:etiology; D057172:Economic Recession / Q000706:statistics & numerical data*; D005260:Female; D006801:Humans; D008137:Longitudinal Studies; D008297:Male; D008875:Middle Aged; D012179:Retirement / Q000191:economics / Q000523:psychology* / Q000706:statistics & numerical data; D014481:United States / Q000453:epidemiology; D014888:Wechsler Scales