Employment and Life Satisfaction of Older Population in Russia

The world's population is ageing, and this demographic trend is the subject of numerous studies. In particular, in Russia, this process has also become a topic for the study of issues related to the socio-economic characteristics of older people and their pension behavior. However, the impact of the employment of pensioners on their satisfaction with life and the reasons for their choice of employment have not been studied in depth, and this work is intended to fill this gap and make recommendations on social policy. The purpose of this final qualifying work is to determine the impact of employment on the satisfaction of pensioners with life. Microdata of the Russia Longitudinal Monitoring Survey for 2012-2017 were used for the analysis. As a result, it was shown that a higher level of health and education, as well as living in a city or regional center, increases the likelihood of an elderly person being employed. At the same time, a higher age and residence in Moscow have a negative impact on the probability of being employed due to health restrictions and higher unearned income. It was also proved that there is an offset of estimates due to the employment factor, as well as the endogeneity of the independent variable of the availability of work. To eliminate endogeneity, a model with instruments was built.