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

TitleEffects of social security policies on benefit claiming, retirement and saving
Publication TypeJournal Article
Year of Publication2015
AuthorsGustman, AL, Steinmeier, TL
JournalJournal of Public Economics
KeywordsConsumption and Savings, Event History/Life Cycle, Health Conditions and Status, Methodology, Pensions, Retirement Planning and Satisfaction, Social Security

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. 2015 Elsevier B.V.


Export Date: 9 September 2015

Endnote Keywords

Aging/Benefit claiming/Dynamic models/Intertemporal choice/Life cycle/Pensions/Retirement/Saving/Social Security

Endnote ID


Citation Key8217