Effects of social security policies on benefit claiming, retirement and saving

• 成果类型: Article
• 署名作者: Gustman, Alan L.; Steinmeier, Thomas L.
• 署名单位: Dartmouth College; Texas Tech University System; Texas Tech University
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/j.jpubeco.2015.07.005
• 发表日期: 2015
• 页码: 51-62
• 关键词: Social Security; Benefit claiming; retirement; pensions; Saving; life cycle; Aging; Dynamic models; intertemporal choice

摘要

An enhanced version of a structural model jointly explains benefit claiming, wealth and retirement, including reversals from states of lesser to greater work. The model is estimated with Health and Retirement Study data. Alternative beliefs about the future of Social Security affect claiming behavior. Effects of three potential policies are also examined: increasing the early entitlement age, increasing the full retirement age, and eliminating the payroll tax for seniors. Predicted responses to increasing the full entitlement age are sensitive to beliefs. (C) 2015 Elsevier B.V. All rights reserved.