2018

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,…

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…

The Effect of Physical and Cognitive Decline at Older Ages on Work and Retirement: Evidence from Occupational Job Demands and Job Mismatch

WP 2017-372, UM17-10

As workers age, their physical and cognitive abilities tend to decline. This could lead to a mismatch between workers’ resources and the demands of their jobs, restricting future work. We use longitudinal data from the Health and Retirement Study (HRS)…

Marriage-related Policies in an Estimated Life-cycle Model of Households’ Labor Supply and Savings for Two Cohorts

WP 2017-371, UM17-01

In the United States, both taxes and old age Social Security benefits explicitly depend on one’s marital status. We study the effects of eliminating these marriage-related provisions on the labor supply and savings of two different cohorts. To do so,…

The Effect of Affordable Care Act Medicaid Expansion on Post-Displacement Labor Supply among the Near-Elderly

WP 2017-370, UM17-17