TY - RPRT T1 - Long-Term Effects of Leaving Military Service in a Weak Economy Y1 - 2017 A1 - Italo Gutierrez A1 - Jennie W. Wenger KW - Labor force participation KW - Recession KW - Unemployment KW - Veterans AB - Previous research finds negative effects in the short and medium term for those who initially entered the labor force during weak labor markets. Discerning the effects of initial market conditions is difficult as young workers may attempt to time their entry by, for example, spending additional time in school during weak markets. In this paper, we take advantage of a novel form of exogenous variation that affected a large group of older workers to study longer-term effects of entering labor markets during bad economic times. Using the Health and Retirement Study, we focus on veterans from the draft era and examine the effects of leaving military service during periods of high unemployment on earnings, wealth, and retirement. These men had little choice about the timing of entry into the labor force; they generally were drafted or volunteered based on world events, and they left the military at the end of fixed contracts after short terms of service. Our results indicate that draft-era veterans who entered the labor force during a weaker economy had lower levels of earnings, and the effects lasted for more than a decade. We also find that while veterans who enter weak labor markets eventually catch up with other veterans in terms of earnings, the accumulated negative effects on wealth and financial preparedness for retirement are large; we find some evidence that veterans compensate by extending their working lives. JF - Working Papers PB - Michigan Retirement Research Center CY - Ann Arbor, MI UR - http://mrrc.isr.umich.edu/wp369/ ER - TY - RPRT T1 - Job Insecurity, Unemployment Insurance, and On-the-Job Search Y1 - 2015 A1 - Italo Gutierrez KW - Employment and Labor Force AB - I use the Health and Retirement Study to document that job insecurity is an important factor behind on-the-job search. I find that job insecurity can explain 25 of the cases in which older workers report to be looking for another job. Then, I analyze whether unemployment insurance can affect this relationship between job insecurity and job search. I find evidence that unemployment insurance discourages on-the-job search, which in turn reduces the probability of starting a job at a new employer and increases the probability of entering non-employment. The strength of these effects depends on the worker s level of job insecurity. PB - Santa Monica, CA, RAND Corporation U4 - Job insecurity/labor Force Participation/unemployment insurance ER - TY - RPRT T1 - Documentation and Benchmarking of Health Insurance Measures in the Health and Retirement Study Y1 - 2009 A1 - Helen G Levy A1 - Italo Gutierrez KW - Medicare/Medicaid/Health Insurance KW - Methodology AB - The Health and Retirement Study (HRS) has asked respondents about their health insurance coverage since the study began in 1992. The study has asked about public and private coverage, including detailed information on the source of coverage. These data can be used to paint a comprehensive picture of insurance coverage among the elderly and near-elderly from 1992 to the present. This documentation provides an overview of the health insurance measures in the HRS and benchmarks HRS estimates of health insurance for 1996 through 2006 to data from the Medical Expenditure Panel Study (MEPS). For selected outcomes, the data are also benchmarked to data from the National Health Interview Survey (NHIS) for 1997 through 2006. PB - Institute for Social Research, University of Michigan CY - Ann Arbor, Michigan U4 - health Insurance/survey Methods ER - TY - JOUR T1 - U.S. Pharmaceutical Policy In A Global Marketplace JF - Health Affairs Y1 - 2009 A1 - Darius Lakdawalla A1 - Dana P Goldman A1 - Pierre-Carl Michaud A1 - Sood, Neeraj A1 - Lempert, Robert A1 - Cong, Ze A1 - de Vries, Han A1 - Italo Gutierrez KW - Healthcare AB - U.S. consumers generate more pharmaceutical revenue per person than Europeans do. This has led some U.S. policymakers to call for limits on U.S. pharmaceutical spending and prices. Using a microsimulation approach, we analyze the welfare impacts of lowering U.S. prices toward European levels, and how these impacts vary with key modeling assumptions. Under the assumptions most favorable to them, price controls generate modest benefits (a few thousand dollars per person). However, for the remainder of plausible assumptions, price controls generate costs that are an order of magnitude higher. In contrast, publicly financing reductions in consumer prices, without affecting manufacturer prices, delivers benefits in virtually all plausible cases. PB - 28 VL - 28 IS - 1 U4 - pharmaceutical spending ER -