2017

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…

UM17-13: Behavioral Factors and Long-run Financial Well-being

Understanding the prevalence and predictive power of behavioral factors—deviations from classical economic preferences, beliefs, and decision rules—in savings and retirement decisions is critical to understanding what products and policies will best foster long-term financial well-being. The authors propose low-cost techniques…

UM17-14: The Growth and Geographical Variation of Nursing Home Self-pay Prices

Skilled nursing home care is arguably the largest financial risk for the elderly without private or social insurance coverage. The self-pay prices escalate more than 50 percent during the past decade. Despite such drastic growth and substantial financial burdens on…

UM17-15: Intergenerational transfers, wealth accumulation and inequality

In both the U.S. and the U.K., inequality has been rising among households in successive cohorts, and younger households seem to be accumulating less wealth for retirement than their parents did. This project aims to investigate the role that intergenerational…