2016

2015 American Working Conditions Survey: Focus on Older Versus Younger Workers

WP 2016-362, UM16-08

In this report we highlight findings on the differing job demands of older versus younger workers from the 2015 American Working Conditions Survey (AWCS), a new nationally representative survey of U.S. workers ages 25-71. We find that generally older workers…

The Effect of Social Security Information on the Labor Supply and Savings of Older Americans

WP 2016-361, UM16-09

This paper examines how older workers adjust their labor supply in response to information they receive about their retirement wealth from the provision of the Social Security Statement. We find that older male workers’ labor supply is highly responsive to…

Productivity Growth and Interest Rate Trends: A Long-Run Analysis

WP 2016-357, UM16-Q2

This paper develops a new measure of after-tax rate of return on aggregate wealth and uses it in estimating the structural relationship between the long-run interest rate and productivity growth rate. The structural approach allows use of parameter estimates in…

Long-term Individual and Population Consequences of Early-life Access to Health Insurance

WP 2016-355, UM16-Q1

Gaining access to health insurance in childhood has been associated with improved childhood health and educational attainment. Expansions in health insurance access have steadily lowered the rates of uninsured children and may have long term consequences for adult health and…

The Effect of the Affordable Care Act on the Labor Supply, Savings, and Social Security of Older Americans

WP 2016-354, UM15-11

This paper assesses the effect of the Affordable Care Act (ACA) on the labor supply of Americans ages 50 and older. Using data from the Health and Retirement Study and the Medical Expenditure Panel Survey, we estimate a dynamic programming…

Consumption Smoothing During the Financial Crisis: The Effect of Unemployment on Household Spending

WP 2016-353, UM16-13

Because of data limitations, the quantification of consumption smoothing in response to economic shocks has been challenging to investigate empirically. We used monthly data on total household spending, income, and labor force participation to estimate the effects of unemployment on…

Occupational Transitions at Older Ages: What Moves are People Making?

WP 2016-352, UM16-03

Given the clear benefit for both public and private finances of extending work lives, many policymakers are interested in finding and promoting ways to accomplish this objective while balancing concerns for work ability at older ages. At the same time,…

How Home Equity Extraction and Reverse Mortgages Affect the Credit Outcomes of Senior Households

WP 2016-351, UM16-12

This paper examines how the extraction of home equity, including but not limited to equity extracted through reverse mortgages, affects credit outcomes of senior households. We use data from the Federal Reserve Bank of New York/Equifax Consumer Credit Panel, supplemented…

Cohort Changes in Social Security Benefits and Pension Wealth

WP 2016-350, UM16-11

We utilize three sets of data resources—the Health and Retirement Study (HRS), linked Social Security earnings records of the HRS respondents, and publicly available pension plan descriptions—to study pension wealth accumulations among the recent HRS cohorts. We document the trends…

Do State Laws Protecting Older Workers from Discrimination Laws Reduce Age Discrimination in Hiring? Experimental (and Nonexperimental) Evidence

WP 2016-349, UM16-04

We provide evidence from a field experiment — a correspondence study — on age discrimination in hiring for retail sales jobs. We collect experimental data in all 50 states and then relate measured age discrimination — the difference in callback…