2018

SeaTE: Subjective ex ante Treatment Effect of Health on Retirement

WP 2018-382, UM17-06

This paper develops an innovative approach to measuring the effect of health on retirement. The approach elicits subjective probabilities of working at specified time horizons fixing health level. Using a treatment-effect framework, within-individual differences in elicited probabilities of working given…

A Meta-Analysis of the Decline in the Labor Force Participation Rate

WP 2018-381, UM18-Q5

This project explores the causes behind the recent decline in the Labor Force Participation (LFP) rate. The analysis examines the evolution of the LFP rate for different demographic groups to gauge the effect of demographic changes. An integral part of…

Shocks and Transitions from Career Jobs to Bridge Jobs and Retirement: A New Approach

WP 2018-380, UM17-04

This research provides new empirical evidence on late-life labor market activities of American households from a new survey implemented under the Vanguard Research Initiative. The survey features following innovations: It measures detailed job characteristics not only of a career job…

Intergenerational Altruism and Transfers of Time and Money: A Life-cycle Perspective

WP 2018-379, UM17-15

Parental investments in children can take one of three broad forms: (1) Time investments during childhood and adolescence that aid child development, and in particular cognitive ability; (2) educational investments that improve school quality and hence educational outcomes; (3) cash…

Quicksand or Bedrock for Behavioral Economics? Assessing Foundational Empirical Questions

WP 2018-378, UM17-13

Behavioral economics lacks empirical evidence on some foundational questions. We adapt standard elicitation methods to measure multiple behavioral factors per person in a representative U.S. sample, along with financial condition, cognitive skills, financial literacy, classical preferences, and demographics. Individually, behavioral…

A Review of U.S. Federal and State Means-Tested Programs

WP 2018-376, UM17-Q1

This report presents a review of the major U.S. federal and state means-tested programs, including a review of how they operate, common features, and rules governing eligibility. The review covers the nature of the target recipient population, the nature of…

2017

Exploring the Social Security Benefit Implications of Same-Sex Marriage

WP 2017-377, UM17-07

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…

Characteristics of Second-career Occupations: A Review and Synthesis

WP 2017-375, UM17-Q2

This study is a literature review of research related to the characteristics of second careers undertaken after mid-life. There is a significant lack of literature directly on this topic, so we draw substantially from the literatures about retirement, bridge jobs,…

Exploring the Risks and Consequences of Elder Fraud Victimization: Evidence from the Health and Retirement Study

WP 2017-374, UM17-16

This is the first study to use longitudinal data to explore both the antecedents and consequences of fraud victimization in the older population. Because older persons are close to or past the peak of their wealth accumulation, they are often…

The Reintroduction of the Social Security Statement and its Effect on Social Security Expectations, Retirement Savings, and Labor Supply across the Age Distribution

WP 2017-373, UM17-05

This paper examines how the 2014 reintroduction of the Social Security statement, staggered by every fifth birth year, affected American Life Panel respondents’ Social Security expectations, savings behavior, and labor supply. The rich panel design of the ALP allows for…