Modeling the Macroeconomic Implications of Social Security Reform
Two models dominate the economics literature on why people save (and hence on why they accumulate wealth). In one, the life–cycle model, people save when they are young in order to have funds to...
View ArticleThe Role of Social Security Transfer Programs in Protecting Older People...
Work in the marketplace is the primary source of income for most households in modern industrial societies. A permanent or even a long-term exit from work by a household’s principal earner is therefore...
View ArticleFamilies, Markets and Social Insurance
We have found modest effects of widowhood events on loss of health insurance. There are also modest effects of widowhood on labor supply, which we have not as yet attempted to attribute to insurance...
View ArticleImperfect Knowledge, Retirement and Savings
Using data from the Health and Retirement Study, this paper measures knowledge about future social security and pension benefits by comparing respondent reports of their expected benefits with benefits...
View ArticleApplications, Denials and Appeals for Social Security Disability Insurance
Abstract for first paper: In order to understand whom among the non-disabled older population experiences a health problem later in life and applies for Social Security Disability Insurance, it is...
View ArticleMortality Risk and Early Retirement
The leading theory used to understand retirement decisions is the life cycle model, which suggests that people save during their working years, when their income is high, so that they will have money...
View ArticleImplications of Cognitive and Physical Impairment for Management of Financial...
This study utilizes a large set of subjective probability questions from the Health and Retirement Survey to construct an index measuring the precision of probabilistic beliefs (PPB) and relates this...
View ArticleStochastic Modeling of the Dynamics of OASDI: Characteristics of Cohort...
In this study, we compute distributions of rates of return by cohort for the Social Security retirement system, using a combination of historical data and stochastic forecasts of productivity and...
View ArticleSaving for Retirement: Implications of Household Bargaining for Social...
Traditional economic models treat the household as a single individual, and do not allow for separate preferences of and possible conflicts of interest between husbands and wives. Since wives are...
View ArticleSocial Security and Retirement Behavior Within the Family: Economic Estimate...
This paper further extends our efforts to understand how household decision-making works and the relation of decisions made within the household to incentives from Social Security and pensions. A...
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