Retirement, Consumption of Political Information, and Political Knowledge

Retirement, Consumption of Political Information, and Political Knowledge. Marcel Garz. European Journal of Political Economy, https://doi.org/10.1016/j.ejpoleco.2017.07.004

Abstract: Democratic societies depend on citizens being informed about candidates and representatives, to allow for optimal voting and political accountability. As the Fourth Estate, news media have a crucial role in this context. However, due to selective exposure, media bias, and endogeneity it is not a priori clear if news consumption increases voter information. Focusing on the increase in leisure time that is associated with retirement, this study investigates whether changes in the consumption of political information affect campaign-related knowledge. For that purpose, I use survey data pertaining to the 2000, 2004, and 2008 US presidential elections. Instrumenting with eligibility for old age benefits, the results show that retirement improves respondents' performance in answering knowledge questions. The effect is mostly driven by additional exposure to newscasts and newspapers. There is also evidence of increasing polarization due to retirement.

JEL classification: D12; D83; J14; J26

Keywords: Learning; Media effects; News consumption; Political knowledge; Retirement