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2010
2010 RRCAnnual MeetingsConference Papers
This paper examines the effect of incorporating individual-level heterogeneity into default rules for retirement plan selection. We use data from a large employer that transitioned from a defined benefit (DB) plan to a defined contribution (DC) plan, offering existing...2010
2010 RRCAnnual MeetingsConference Papers
I show that state wage-payment laws, which forbid deductions from wages and salaries without the written permission of the employee, constituted a binding constraint on firms’ choices to adopt automatic enrollment in 401(k) plans prior to 2006. Since the passage of...2010
2010 RRCAnnual MeetingsConference Papers
Slides only, no abstract available.2010
2010 RRCAnnual MeetingsConference Papers
Why don’t people buy annuities? Several explanations have been provided by the previous literature: large fraction of preannuitized wealth in retirees’ portfolios; adverse selection; bequest motives; and medical expense uncertainty. This paper uses a...2010
2010 RRCAnnual MeetingsConference Papers
The Health and Retirement Study (HRS) presents an unparalleled opportunity to study the association of personality with lifetime economic success. The linkage of HRS survey data with administrative data from the Social Security Administration allows us to look at...2010
2010 RRCAnnual MeetingsConference Papers
It is generally accepted that the Social Security program pays to women a higher average ratio of lifetime benefits to lifetime taxes than it does to men. Social Security’s progressive benefit structure and payment of benefits as an annuity combine with women’s lower...2010
2010 RRCAnnual MeetingsConference Papers
With states facing tightening Medicaid budgets, the high cost of financing long-term care for the elderly through Medicaid has prompted proposals to make private long-term care insurance (LTCI) more affordable through tax incentives. The effectiveness of tax...2010
2010 RRCAnnual MeetingsConference Papers
This paper examines the correlation between poor health and asset accumulation for households in the first nine waves of the Health and Retirement Survey. Rather than enumerating the specific costs of poor health, such as out of pocket medical expenses or lost...2010
2010 RRCAnnual MeetingsConference Papers
Slides only, no abstract available.2010
2010 RRCAnnual MeetingsConference Papers
Slides only, no abstract available.2010
2010 RRCAnnual MeetingsConference Papers
While media reports predicted substantial changes in labor supply behavior due to the sharp decline in the value of the stock market in October 2008, empirical evidence on the relationship between equity markets and retirement is mixed. We use panel data from the...2010
2010 RRCAnnual MeetingsConference Papers
Pensions and Social Security together account for half the wealth of those approaching retirement age. Thus one would expect knowledge of pensions and Social Security to play a central role in shaping the financial decisions made by those in their early to...2010
2010 RRCAnnual MeetingsConference Papers
Using data from several sources, we show that households nearing retirement have lower rates of housing distress than younger households do, as measured by arrears and foreclosure rates. However, almost all of their housing wealth gains observed for cohorts aged 51-56...2010
2010 RRCAnnual MeetingsConference Papers
Abstract not available.2010
2010 RRCAnnual MeetingsConference Papers
Abstract not available.2010
2010 RRCAnnual MeetingsConference Papers
Over the last 25 years the Social Security Disability Insurance Program (DI) has grown dramatically. During the same period of time employment rates for men with work limitations showed substantial declines in both absolute and relative terms. While the timing of...2010
2010 RRCAnnual MeetingsConference Papers
We show that the effects of taxes on labor supply are shaped by interactions between adjustment costs for workers and hours constraints set by firms. We develop a model in which firms post job offers characterized by an hours requirement and workers pay search costs...2010
2010 RRCAnnual MeetingsConference Papers
This study uses recent data to examine how the incidence and consequences of job loss varies by age. Models measure the likelihood that workers lose their jobs and the likelihood that displaced workers become reemployed. We also compare earnings and other job...2010
2010 RRCAnnual MeetingsConference Papers
Abstract not available.2010
2010 RRCAnnual MeetingsConference Papers
Abstract not available.