This paper examines retirement and related behavioral responses to policies that on average are actuarially neutral …. Many conventional models predict that actuarially neutral policies will not affect retirement behavior. In contrast, our … rewards does not balance the loss from foregone current benefits. Using data from the Health and Retirement Study, we find …

This paper simulates the retirement effects of the various elements of proposals made by the President's Commission to … Strengthen Social Security (CSSS). Simulations are based on a structural dynamic model of retirement and savings estimated with … data from the first five waves of the Health and Retirement Study. This model posits lifetime expected utility is …

approaching their retirement, the average person approaching retirement age is not likely to suffer a life changing financial loss … been greatly exaggerated. If there is any postponement of retirement due to stock market losses, on average it will be a … background information that corrects misperceptions about pension holdings of the retirement age population. Pension coverage is …

This paper analyzes the effect of a potential reform to the Social Security system on individuals' retirement and … orderings and endogenous retirement. Our framework allows the possibility of disability. The specification predicts a change in … consumption at retirement; we use the empirical magnitude of the change, together with desired retirement age, to identify key …

Postponing retirement will become increasingly important as a means to increase the labor force, its output and old age … retirement behavior. Using probit analysis of household survey data from 1960 to 2002, we estimate the impact of the pension …

model of retirement and wealth. The model is then used to simulate the effects of abolishing the remainder of the Social … Security earnings test, between age 62 and the full retirement age. Estimates are based on data for married men from the first … six waves of the Health and Retirement Study. From age 62 through full retirement age, the earnings test reduces the share …

We use a US Social Security reform as a quasi-experiment to provide evidence on framing effects in retirement behavior …. The reform increased the full retirement age (FRA) from 65 to 66 in two month increments per year of birth for cohorts … with the FRA. Results on self-reported retirement and exit from employment are less clear-cut, but go in the same direction …

over Social Security reform and benefit levels, and how they affect claiming behavior and retirement. The purpose of this … the government reports as necessary to solve the crisis) in a dynamic life-cycle model of retirement, we are able to match … hypothesis that expectations over future benefits are affecting current behavior. We find that a mis-specified dynamic retirement …