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The Effect of Subjective Survival Probabilities on Retirement and Wealth in the United States

Bloom, David E. - 2010

We explore the proposition that expected longevity affects retirement decisions and accumulated wealth using micro data drawn from the Health and Retirement Study for the United States. We use data on a person's subjective probability of survival to age 75 as a proxy for their prospective...

Persistent link: https://www.econbiz.de/10012760540

Demographic Change, Social Security Systems, and Savings

Bloom, David E. - 2010

little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent … retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing … a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in …

Persistent link: https://www.econbiz.de/10012760611

Social Security and Retirement

Coile, Courtney; Gruber, Jonathan - 2021

A critical question for Social Security policy is how program incentives affect retirement behavior. We use the wealth of new data available through the Health and Retirement Survey (HRS) to examine the impact of Social Security incentives on male retirement. We implement forward-looking models...

Persistent link: https://www.econbiz.de/10013226551

Social Security Programs and Retirement Around the World : Introduction and Summary of Papers by

Gruber, Jonathan; Wise, David A. - 2021

The populations in all industrialized countries are aging rapidly and life life expectancies are increasing. Yet older workers are leaving the labor force at younger and younger ages. In some countries, the labor force participation rates of 60 to 64 year old men have fallen by 75% over the past...

Persistent link: https://www.econbiz.de/10013234936

Social Security Programs and Retirement Around the World : Micro Estimation

Gruber, Jonathan; Wise, David A. - 2021

This is the introduction to and summary of the second stage of a international research project to study the relationship between social security provisions and retirement. The project relies on the analyses of a large group of economists in 12 countries who conduct the analysis for each of...

Persistent link: https://www.econbiz.de/10013239946

The Retirement Incentive Effects of Canada'S Income Security Programs

Baker, Michael; Gruber, Jonathan; Milligan, Kevin - 2021

Like most other developed nations, Canada has a large income security system for retirement that provides significant and widely varying disincentives to work at older ages. Empirical investigation of their effects has been hindered by lack of appropriate data. We provide an empirical analysis...

Persistent link: https://www.econbiz.de/10013244881

Social Security Programs and Retirement Around the World : Fiscal Implications, Introduction and Summary

Gruber, Jonathan; Wise, David A. - 2021

current program costs. The savings amount to as much a 1 percent or more of country GDP. The results make clear that reforms …

Persistent link: https://www.econbiz.de/10013229088

Simulating the Response to Reform of Canada'S Income Security Programs

Baker, Michael; Gruber, Jonathan; Milligan, Kevin - 2021

We explore the fiscal implications of reforms to the Canadian retirement income system by decomposing the fiscal effect of reforms into two components. The mechanical effect captures the change in the government's budget assuming no behavioral response to the reform. The second component is the...

Persistent link: https://www.econbiz.de/10013230170

An International Perspective on Policies for an Aging Society

Gruber, Jonathan; Wise, David A. - 2021

The single most important long run fiscal issue facing the developed world is the aging of its populations. In virtually every developed country, there will be a steep increase in the ratio of the elderly to the working age population over the first half of the 21st century. The purpose of our...

Persistent link: https://www.econbiz.de/10013215344

Social Security and Retirement in Canada

Gruber, Jonathan - 2021

Government transfers to older persons in Canada are one of the largest and fastest growing" components of the government budget. I provide an overview of the interaction between these" transfer programs and retirement behavior. I begin by documenting historical trends in labor force"...

Persistent link: https://www.econbiz.de/10013211647