Volume 17, Issue 2 - May 2017
MRRC researchers in publication & the media
Jody Schimmel Hyde and David Stapleton published “Employment Support for the Transition to Retirement” in Research on Aging, January 2017. The funding information cites the pair’s 2010 project, “Protecting the Household Incomes of Older Workers with Significant Health-Related Work Limitations in an Era of Fiscal Responsibility,” MRRC WP 2010-244.
Sudipto Banerjee and David Blau”s “Employment Trends by Age in the United States Why Are Older Workers Different?” was published in the winter 2016 issue of Journal of Human Resources. The article is based on the pair’s 2013 working paper of the same name, MRRC WP 2013-285.
NPR Morning Edition correspondent Ina Jaffe interviewed David Neumark on March 24 about his work on age discrimination in hiring older workers. The radio program quoted Neumark and his correspondence study’s results: “The call-back rate — the rate by which employers contact us and say we’d like to interview you — drops from young applicants to middle-aged applicants and drops further from middle-aged applicants to older applicants.” The feature drew from the Neumark, Ian Burn, Patrick Button, and Nanneh Chehras 2016 project, “Do State Laws Protecting Older Workers from Discrimination Laws Reduce Age Discrimination in Hiring? Experimental (and Nonexperimental) Evidence,” MRRC WP 2016-349. That working paper was also the basis of a February Federal Reserve Board San Francisco Economic Letter written by Neumark, Burn, and Button.
In an interview in the Wall Street Journal, Boston College Center for Retirement Research’s Geoffrey T. Sanzenbacher gave a hat tip to Annamaria Lusardi and Olivia Mitchell’s working paper, “Older Adult Debt and Financial Frailty,” WP 2013-291. Sanzbacher said, “One recent study by the University of Michigan’s Retirement Research Center found older Americans have more debt mostly because they purchased more expensive homes with smaller down payments, and baby boomers were particularly likely to engage in these sorts of risky borrowing practices.”
Annamaria Lusardi and Olivia S. Mitchell’s 2014 Journal of Economic Literature article, “The Economic Importance of Financial Literacy: Theory and Evidence,” was cited in the 115th Congress’ First Session House Resolution 247, “Supporting the goals and ideals of Financial Literacy Month.” In the Economic Literature article, the pair credits Social Security and MRRC funding. Lusardi and Mitchell have had numerous MRRC projects examining financial literacy over the years, including “Baby Boomer Retirement Security: The Roles of Planning, Financial Literacy, and Housing Wealth,” MRRC WP 2006-114.
In April Next Avenue reporter Kerry Hannon shared findings on Brooke McFall and Amanda Sonnega’s WP 2016-352, “Occupational Transitions at Older Ages: What Moves are People Making?” Hannon wrote, “I wasn’t terribly surprised by the researchers’ pay cut finding. The truth is, based on the workers I’ve studied and interviewed… most workers who change careers take a step down in salary when they start over. But here’s the interesting part: The researchers said the earnings decline ‘may reflect strategic decisions on the part of workers who may be willing to trade earnings for work hours flexibility or part-time work.’”
Volume 70, Issue 1, of the National Tax Journal featured two articles based on MRRC projects. Alan Gustman, Thomas Steinmeier, and Nahid Tabatabai’s “Means Testing Social Security: Income Versus Wealth” credits the trio’s funding for “Distributional Effects of Means Testing Social Security: An Exploratory Analyis,” WP 2014-306. Timothy Lu and Olivia S. Mitchell’s article, “Borrowing From the Future? 401(K) Plan Loans and Loan Defaults,” draws on their 2010 project, “Borrowing from Yourself: Determinants of 401(k) Loan Patterns,” MRRC WP 2010-221.