Recessions, Wealth Destruction and the Timing of Retirement

In this study, we evaluate the retirement decision using two different analytical approaches to assessing the impact of economic conditions on retirement. The first uses aggregate statistics to measure the response of older workers to variations in labor market conditions…

Investor Decisions and the Financial Crisis in Mexico’s Privatized Social Security Market

In addition, that even among the educated and financially literate, experienced and educated investors engage in return chasing, overconfidence, and myopic loss aversion, resulting in lower returns for their personally managed investments relative to diversified, passively managed ones (Benartzi and…

Cognition, Financial Wealth, and the Effects of the Financial Crisis on the Well-Being of Older Americans

Abstract not available.

Healthy Life Expectancy: Estimates and Implications for Retirement Age Policy

Abstract not available.

Age Differences in Job Loss, Job Search, and Reemployment

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…

Adjustment Costs, Firm Responses, and Labor Supply Elasticities: Evidence from Danish Tax Records

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…

Reconciling Findings on the Employment Effect of Disability Insurance

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…

The Labor Supply Effects of Disability Insurance Work Disincentives: Evidence from Administrative Data

Abstract not available.

The Longitudinal Impact of Disability on Earnings and Earnings Uncertainty

Abstract not available.

What is the Impact of Foreclosures on Retirement Security?

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…