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Recent research has argued that incentives stemming from social security systems influence the worker’s decision to retire. The experience of Chile, which radically changed its system in 1981, offers an opportunity to test this hypothesis. The new system tightened access to early pensions,...
Persistent link: https://www.econbiz.de/10014203738
This paper is based on a structural model of retirement and saving, estimated with data for a sample of married men in … the Health and Retirement Study. It explains the relation of specific features of Social Security - the benefit amount …, the early entitlement age, the normal retirement age, earnings test parameters, and the delayed retirement credit - to the …
Persistent link: https://www.econbiz.de/10014220212
In this paper, we explore and compare how older and younger couple households use adjustments in the wife’s labor supply to mitigate the effects of negative shocks to the husband’s employment status. Using difference-in-differences matching methods, we document a substantial added worker...
Persistent link: https://www.econbiz.de/10014139607
The current U.S. Social Security program redistributes resources from high wage workers to low wage workers and from two-earner couples to one-earner couples. The present paper extends a standard general-equilibrium overlapping-generations model with uninsurable wage shocks to analyze the effect...
Persistent link: https://www.econbiz.de/10013135967
We analyze the forces that can generate retirement in different versions of standard life cycle models of labor supply …. While nonconvexities in production can generate retirement, we show that the size of nonconvexities needed increases sharply … models imply a large increase in time devoted to home production at retirement. This is contrary to what is found in the ATUS …
Persistent link: https://www.econbiz.de/10013156103
recipients and my Social Security account holders highly value the information therein for retirement planning. Recipients … statistically significant effects on retirement savings, although additional research is required for estimating heterogeneous …
Persistent link: https://www.econbiz.de/10012900008
We develop a rich model to study the complex interrelationship between health insurance and retirement decisions. The … model of optimal wealth and retirement decisions, solving the model household-by-household using data from the HRS. We use …
Persistent link: https://www.econbiz.de/10013061196
supply, and retirement. Unlike all previous work, our model allows both an endogenous wage process (which is typically … the model and match the life-cycle profiles of wages, hours and retirement from SIPP data. We analyze the impact of health … shocks on retirement, as well as the effect of changes in payroll taxes and increases in the Normal Retirement Age on labor …
Persistent link: https://www.econbiz.de/10012929436
by exploiting the fact that DI benefits are payable only until full retirement age (FRA), at which point they are …
Persistent link: https://www.econbiz.de/10014210669
The labor supply and benefit claiming incentives provided by the early retirement rules of the Social Security Old Age … benefits program are of growing importance as the Normal Retirement Age (NRA) increases to 67, the labor force participation of … Health and Retirement Survey. We then investigate the importance of the Earnings Test limits for work and claiming behavior …
Persistent link: https://www.econbiz.de/10014210714