2017

UM17-03: Understanding Earnings, Labor Supply and Retirement Decisions

We develop and estimate a model in which individuals make decisions on consumption, human capital investment, labor supply, and retirement. Unlike all previous work, our model allows both an endogenous wage process (which is typically assumed exogenous in the retirement…

UM17-04: Shocks and Transitions from Career Jobs to Bridge Jobs and Retirement: A New Approach

What drives the decision to retire versus work longer? This project studies how shocks affect older Americans’ decision-making among continuing to work in a career job, seeking a bridge job, or retiring. It will use a new survey instrument that…

UM17-05: The Reintroduction of the Social Security Statement and its Effect on Social Security Expectations, Retirement Savings, and Labor Supply Across the Age Distribution

In the 1990s, SSA began automatic mailings of a statement with personalized benefit estimates. Previous research has examined the statement’s impacts on claiming, labor supply, and savings among older Americans in the 1990s. However, little is known about the effect…

UM17-06: “If I am in Good Health”: Using Subjective Conditional Expectations Relating Health to Retirement with Lesson for Social Security Claiming and Sustainability

How much does health drive retirement? Recovering this relationship is challenging, since for each retiree we typically observe the age at which they retired given the health path they actually experienced. We cannot directly observe at what age they would…

UM17-07: Exploring the Social Security Benefit Implication of Same-Sex Marriage

Same-sex marriage became legal nationwide in the United States on June 26, 2015. Federal legalization of same-sex marriage expands the pool of individuals potentially eligible for spousal Social Security benefits to the estimated 4 percent of the population that is…

UM17-08: Understanding Job and Retirement Transitions

Retirement trajectories are a function of wages and the types of nonwage job characteristics available to older workers. We study data on job-characteristic preferences and their dependence on age and proximity to retirement. This work will provide valuable information about…

UM17-09: Veteran Reintegration: Identifying the Long-Term Effects of Recessions on Earnings, Wealth, and Retirement Decisions

Prior research indicates that young workers who enter the labor market during a recession have lower wages, and that the effects last at least 15 years. This initial experience could affect workers’ eventual wealth accumulation and retirement decisions, but little…

UM17-10: How do Changes in Health and Cognition Affect the Timing of Retirement? Evidence from Occupational Job Demands and Job Mismatch

As workers age, physical health and cognitive abilities tend to decline. Depending on job characteristics, this decline could lead to a deterioration of the match between worker’s abilities and the demands of the job. We propose to use Health and…

UM17-11: Work-Life Balance and Labor Force Attachment at Older Ages

The Executive Office of the President, Council of Economic Advisers, has recently stated that “too few studies on the mechanisms through which workers’ job satisfaction and firm profits are affected hinder a deeper understanding of the benefits and costs of…

UM17-12: Alternative Measures of Character Skills and Their Effect on Retirement Preparation and Financial Capability

Social science, more than ever, is drawing upon the insights of personality psychology. Though researchers know that character skills and personality traits, such as conscientiousness, grit, self-control, or a growth mindset could be important for life outcomes, they struggle to…