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Articles 1 - 30 of 79
Full-Text Articles in Social and Behavioral Sciences
“Safe” Annuity Retirement Products And A Possible Us Retirement Crisis, Thomas E. Lambert, Christopher B. Tobe
“Safe” Annuity Retirement Products And A Possible Us Retirement Crisis, Thomas E. Lambert, Christopher B. Tobe
Faculty Scholarship
This paper examines a looming possible crisis in many Americans’ retirement plans due to the proliferation of annuity products in their retirement investment portfolios. As defined benefit pension plans have almost completely disappeared as a means of retirement savings and have been replaced by defined contribution retirement plans over the last 40 to 50 years, a great number of private and public sector defined contribution retirement plans have become laden with insurance contracts called annuities. Of the remaining solid defined benefit plans many, through a process called Pension Risk Transfer are being converted to high-risk single entity annuities. Such products …
The Effects Of The Social Security Amendments Of 1983 On Employment Status, Alcohol Consumption, And Depression, Adam J. Delgenio
The Effects Of The Social Security Amendments Of 1983 On Employment Status, Alcohol Consumption, And Depression, Adam J. Delgenio
Theses and Dissertations
Nearly four decades ago, Congress passed the Social Security Amendments of 1983. The changes were significant, and they pressured people to delay retirement. In this thesis, I use individual-level data from the Annual and Social Economic Supplement of the Current Population Survey and the Health Retirement Study to analyze the effects of the amendments. The amendments affect individuals at the same age, but across different years. Year of birth determines treatment by the amendments. I control for year of birth and age effects in a difference-in-difference model and interact treatment with age to identify the effects of the amendments on …
Essays In Applied Microeconomics, Joshua C. Martin
Essays In Applied Microeconomics, Joshua C. Martin
Graduate Theses, Dissertations, and Problem Reports
The first chapter examines the role that same-sex marriage legalization had on the number of adoptions of children from foster care in the United States. We do so by employing a synthetic difference-in-differences estimator which leverages both the differential timing of these laws across states and the subsequent wave of state-level legal protections which give foster-care agencies the right to deny service to same-sex couples based on religiously-held beliefs. Using highly detailed, county-level data of nearly 20 million children in the foster care system from 1995-2020, our findings reveal that same-sex marriage legalization led to a 3.8%-5.9% increase in the …
Disability Insurance Screening And Workers’ Health And Labor Market Outcomes, Alexander Ahammer, Analisa Packham
Disability Insurance Screening And Workers’ Health And Labor Market Outcomes, Alexander Ahammer, Analisa Packham
Employment Research Newsletter
No abstract provided.
Disability Insurance Screening And Workers’ Health And Labor Market Outcomes, Alexander Ahammer, Analisa Packham
Disability Insurance Screening And Workers’ Health And Labor Market Outcomes, Alexander Ahammer, Analisa Packham
Upjohn Institute Policy and Research Briefs
No abstract provided.
Disability Insurance Screening And Worker Outcomes, Alexander Ahammer, Analisa Packham
Disability Insurance Screening And Worker Outcomes, Alexander Ahammer, Analisa Packham
Upjohn Institute Working Papers
We estimate the returns to more targeted disability insurance (DI) programs in terms of labor force participation and worker health. To do so, we analyze male workers after an acute workplace injury that experience differential levels of application screening. We find that when workers face tighter screening requirements, they are less likely to claim disability and are more likely to remain in the labor force. We observe no differences in any physical or mental health outcomes, including reinjury. Our findings imply that imposing stricter DI screening requirements has large fiscal benefits but does not yield any detectable health costs, on …
Privatizing Retirement: The Case Of The Female Chilean Worker, Teresa A. Renier
Privatizing Retirement: The Case Of The Female Chilean Worker, Teresa A. Renier
CSB and SJU Distinguished Thesis
Chile has been called the “promised land” of Latin America, a First World country, and an economic miracle. Privatizing social security in Chile has often been hailed by economists as the key for their unprecedented economic growth and success within the past few decades—so much so that other countries have adopted similar pension models within their own countries. Somewhere along this path of astonishing economic growth, Chile, like other developed nations, has arrived at a point where it can no longer assume that the typical worker is a man. Yet as the gap continues to decrease between female and male …
2022-13 Savings After Retirement, Eric French, John Bailey Jones, Rory Mcgee
2022-13 Savings After Retirement, Eric French, John Bailey Jones, Rory Mcgee
Department of Economics Research Reports
Abstract: Retired households, especially those with high lifetime income, decumulate their wealth very slowly, and many die leaving large estates. The three leading explanations for the ‘retirement savings puzzle” are the desire to insure against uncertain lifespans and medical expenses, the desire to leave bequests to one’s heirs, and the desire to remain in one’s own home. We discuss the empirical strategies used to differentiate these motivations, most of which go beyond wealth to exploit additional features of the data. The literature suggests that all the motivations are present, but has yet to reach a consensus about their relative importance
Why Do Rich People Not Retire?, Xiya Li
Why Do Rich People Not Retire?, Xiya Li
Scripps Senior Theses
Work and leisure are central to the human condition. Scholars from many fields have tried to understand why Americans work so much. Many people believe that when they have enough money, they will retire. However, many people are not willing to retire even if they have enough money to do so. Most people who do not have enough money to retire do not even get any amount of leisure from their jobs. If the view that enough money directly leads to retirement is wrong, then it is time to reconsider using this logic to think of the possibility of retiring. …
Three Essays In Healthcare Economics And Policy Analysis, Tuyen Pham
Three Essays In Healthcare Economics And Policy Analysis, Tuyen Pham
Graduate Theses, Dissertations, and Problem Reports
This dissertation research consists of three essays on healthcare economics and policy analysis. Chapter 1 investigates and explains the failure of a proposition on limiting dialysis clinic profits in California in 2018. The proposition would have required dialysis clinics to issue refunds to patients or their payers for revenue that exceeds 115% of the direct cost of treatment. In this chapter, a conceptual framework of how voters weigh costs and benefits is developed and two different empirical approaches, simple OLS and Double Post LASSO, are employed to identify key determinants of the voting outcome. The empirical results suggest that counties …
Trust And Retirement Preparedness: Evidence From Singapore, Benedict S. K. Koh, Olivia S. Mitchell, Joelle H. Fong
Trust And Retirement Preparedness: Evidence From Singapore, Benedict S. K. Koh, Olivia S. Mitchell, Joelle H. Fong
Research Collection Lee Kong Chian School Of Business
Trust is an essential component of any financial system, and distrust can undermine savings and economic growth. Our study draws on the Singapore Life Panel to assess how trust ties to older respondents’ (1) pension plan participation and withdrawals; (2) life, health, and long-term care insurance holdings; and (3) stock market engagement. We show that the widely-used ‘trust in people’ question is uncorrelated with household behaviours related to retirement preparedness. Instead, trust in private and public financial representatives is positively associated with pension savings, investments, and insurance holdings. Financial literacy also plays an important and consistent role in retirement decision-making.
Online Retirement Planning Training: The Effects Of Usability On Cognitive Load And Retirement Planning Activity Levels, Natasha Hardy
Online Retirement Planning Training: The Effects Of Usability On Cognitive Load And Retirement Planning Activity Levels, Natasha Hardy
Dissertations, Master's Theses and Master's Reports
The shift from defined benefit to defined contribution retirement plans for the current generation of retiree planners, Generation X, has placed the onus on individuals to gather, comprehend, and utilize complex financial information in order to plan their own retirement. Low savings rates and retirement planning activity indicate that individuals are not up to the challenge. This research investigates the interplay of three facets of cognitive load, usability, tech and retirement anxiety and the effects of a usability intervention on retirement planning activity levels.
Study 1 used semi-structured interviews and cognitive task analysis to explore themes of computer and retirement …
Financial Knowledge And Portfolio Complexity In Singapore, Benedict S. K. Koh, Olivia S. Mitchell, Susann Rohwedder
Financial Knowledge And Portfolio Complexity In Singapore, Benedict S. K. Koh, Olivia S. Mitchell, Susann Rohwedder
Research Collection Lee Kong Chian School Of Business
Financial literacy in Singapore has not been analyzed in much detail, despite the fact that this is one of the world’s most rapidly aging nations. Using the Singapore Life Panel®, we explore older Singaporeans’ levels of financial knowledge and compare them to those observed in the United States. We assess portfolio complexity for these older households, to examine how financial literacy is related to outcomes of interest. We show that older Singaporeans’ levels of financial literacy are comparable overall to those in the United States, even though older Singaporeans score slightly lower on some dimensions (knowledge of interest and inflation), …
Most Self-Employed Workers Are Independent Contractors, Katharine G. Abraham, Brad J. Hershbein, Susan N. Houseman
Most Self-Employed Workers Are Independent Contractors, Katharine G. Abraham, Brad J. Hershbein, Susan N. Houseman
Upjohn Institute Policy and Research Briefs
No abstract provided.
Contract Work At Older Ages, Katharine G. Abraham, Brad J. Hershbein, Susan N. Houseman
Contract Work At Older Ages, Katharine G. Abraham, Brad J. Hershbein, Susan N. Houseman
Upjohn Institute Working Papers
The share of workers who are self-employed rises markedly with age. Given policy concerns about inadequate retirement savings, especially among those with lower education, and the resulting interest in encouraging employment at older ages, it is important to understand the role that self-employment arrangements play in facilitating work among seniors. New data from a survey module fielded on a Gallup telephone survey distinguish independent contractor work from other self-employment and provide information on informal and online platform work. The Gallup data show that, especially after accounting for individuals who are miscoded as employees, self-employment is even more prevalent at older …
The Political Economy Of Inequality: U.S. And Global Dimensions, Sisay Asefa Editor, Wei-Chiao Huang Editor
The Political Economy Of Inequality: U.S. And Global Dimensions, Sisay Asefa Editor, Wei-Chiao Huang Editor
Upjohn Press
The contributors to this book discuss a variety of forms of social inequality which include large gaps in accumulated assets, discrepancies in access to quality education, unstable family life, lack of access to banking services, poor employment prospects, lack of health care services, and underrepresentation for political and legal matters. Together, they show how these forms of inequality are interrelated with income inequality and that, taken together, they pose the risk for societal and political unrest should they be left unresolved.
Do Private Household Transfers To The Elderly Respond To Public Pension Benefits? Evidence From Rural China, Plamen Nikolov, Alan Adelman
Do Private Household Transfers To The Elderly Respond To Public Pension Benefits? Evidence From Rural China, Plamen Nikolov, Alan Adelman
Economics Faculty Scholarship
Aging populations in developing countries have spurred the introduction of public pension programs to preserve the standard of living for the elderly. The often-overlooked mechanism of intergenerational transfers, however, can dampen these intended policy effects, as adult children who make income contributions to their parents could adjust their behavior in response to changes in their parents’ income. Exploiting a unique policy intervention in China, we examine using a difference-in-difference-in-differences (DDD) approach how a new pension program impacts inter vivos transfers. We show that pension benefits lower the propensity of adult children to transfer income to elderly parents in the context …
Rethinking Retirement For The 21st Century, Stephen C. Russo
Rethinking Retirement For The 21st Century, Stephen C. Russo
Major Papers
Canada’s labour force has been gradually growing older in recent decades. An aging labour force creates significant problems for the country and the future growth of our economy. With an aging labour force, comes the need to start rethinking how Canadians look at retirement in the 21st century and how both the government and private sector can contribute solutions to adapting to an older workforce. This problem is not unique to Canada, most of the industrialized west has been or will begin to experience the same demographic shift as we are in Canada. The main challenge this paper examines …
Short-Run Health Consequences Of Retirement And Pension Benefits: Evidence From China, Plamen Nikolov, Alan Adelman
Short-Run Health Consequences Of Retirement And Pension Benefits: Evidence From China, Plamen Nikolov, Alan Adelman
Justice & Well-Being Studies Faculty Scholarship
This paper examines the impact of the New Rural Pension Scheme (NRPS) in China. Exploiting the staggered implementation of an NRPS policy expansion that began in 2009, we used a difference-in-difference approach to study the effects of the introduction of pension benefits on the health status, health behaviors, and healthcare utilization of rural Chinese adults age 60 and above. The results point to three main conclusions. First, in addition to improvements in self-reported health, older adults with access to the pension program experienced significant improvements in several important measures of health, including mobility, self-care, usual activities, and vision. Second, regarding …
Predicting Agency Contributions For The Federal Employment Retirement System (Fers) Fund, Raymond L. Mims Ii
Predicting Agency Contributions For The Federal Employment Retirement System (Fers) Fund, Raymond L. Mims Ii
Theses and Dissertations
The Federal Employment Retirement System is a pension fund for federal employees and is managed by the United States Office of Personnel and Management (OPM). Each year OPM publishes an annual Civil Service Retirement and Disabilities Fund (CSRDF) report that provides information on the health of the fund. The report contains historical cash flows from income provided by contributions to the fund from employees, agencies, and the U.S. Treasury. Additionally, the report shows actuarial valuations of the total liabilities owed to all current employees and annuitants. The actuaries at OPM use their estimates to provide projections needed to maintain the …
Effects Of The Great Recession On American Retirement Funding, Tanner G. Hamil
Effects Of The Great Recession On American Retirement Funding, Tanner G. Hamil
Chancellor’s Honors Program Projects
No abstract provided.
Who Bleeds When The Wolves Bite? A Flesh-And-Blood Perspective On Hedge Fund Activism And Our Strange Corporate Governance System, Leo E. Strine Jr.
Who Bleeds When The Wolves Bite? A Flesh-And-Blood Perspective On Hedge Fund Activism And Our Strange Corporate Governance System, Leo E. Strine Jr.
All Faculty Scholarship
This paper examines the effects of hedge fund activism and so-called wolf pack activity on the ordinary human beings—the human investors—who fund our capital markets but who, as indirect of owners of corporate equity, have only limited direct power to ensure that the capital they contribute is deployed to serve their welfare and in turn the broader social good.
Most human investors in fact depend much more on their labor than on their equity for their wealth and therefore care deeply about whether our corporate governance system creates incentives for corporations to create and sustain jobs for them. And because …
Working Longer, Retiring Later: Are Employers Ready For The New Employment Trend?, Robert L. Clark, Melinda Sandler Morrill
Working Longer, Retiring Later: Are Employers Ready For The New Employment Trend?, Robert L. Clark, Melinda Sandler Morrill
Employment Research Newsletter
No abstract provided.
Retirement Adequacy Of Mature Workers In Singapore, Rhema Vaithianathan, Stephen Hoskins
Retirement Adequacy Of Mature Workers In Singapore, Rhema Vaithianathan, Stephen Hoskins
Research Collection School Of Economics
In the last decade, the Singapore resident population has grown older with more elderly and fewer younger people. As Singapore Department of Statistics noted, the proportion of residents aged 65 years and over has increased from 9% to 13% over the past ten years. There are now fewer working-age adults to support each resident aged 65 years and over as indicated by the falling resident old-age support ratio from 7.7 in 2007 to 5.1 in 2017. The support ratio is expected to halve to 2.5 by 2030. As Singaporeans are both living and working longer, it is vital for the …
Extending Work Life: Can Employers Adapt When Employees Want To Delay Retirement?, Robert L. Clark, Melinda Sandler Morrill
Extending Work Life: Can Employers Adapt When Employees Want To Delay Retirement?, Robert L. Clark, Melinda Sandler Morrill
Upjohn Press
Aging men and women are increasingly remaining in the labor force. Most often the reason for this is that they need to work additional years in order to be able to support an increasing number of years in retirement. This leaves employers scrambling for ways to adapt to a growing number of retirement-aged workers. Clark and Morrill provide a thorough assessment of the costs and benefits of accommodating later retirement ages, and they describe options employers may use to create some new form of employment contract with aging workers.
The most prominent issues employers with aging workers face are declining …
A New Method For Helping Chinese People Who Are Facing Retirement To Exert Greater Control Over Their Financial Resources, Xuanmu Yan
Dissertations - ALL
In China, personal financial advisers are not common. Chinese people who are facing retirement have a difficult time to plan for their retirement. This causes a very serious problem in China: many older Chinese do not have enough money in retirement. Therefore, my goal is to help Chinese people that are facing retirement without a detailed financial plan. In order to do so, I’ve conducted research to understand the long-term goals of those Chinese people. As a qualitative research approach, I've created three probes to explore the problems they are facing and the reasons why existing solutions do not work …
Restructuring Social Security: How Will Retirement Ages Respond?, Gary S. Fields, Olivia S. Mitchell
Restructuring Social Security: How Will Retirement Ages Respond?, Gary S. Fields, Olivia S. Mitchell
Gary S Fields
[Excerpt] Budgetary pressures on the Social Security system have increased in recent years, prompting a variety of proposals to restructure the U.S. retirement income program. Most of these proposals ignore the possibility that the retirement patterns of older workers are likely to respond to changes in the incentives to retire. This chapter presents two important pieces of information for policymakers. First, we provide previously unavailable evidence on how changes in the structure of Social Security benefits would alter the economic incentives to retire at different ages. Second, we compute how retirement patterns would change in response to altered incentives to …
Sustainability, Livelihoods, And Quality Of Life Of Older Retirees In Lagos State, Nigeria, Bola Amaike
Sustainability, Livelihoods, And Quality Of Life Of Older Retirees In Lagos State, Nigeria, Bola Amaike
Journal of Global Initiatives: Policy, Pedagogy, Perspective
Later life is celebrated in Africa because it is seen as a blessing from God. Therefore, older people are generally treated with dignity. But with modernization, African senior citizens suffer diverse challenges and experience difficulty in meeting their basic needs. Hence, the need for sustainable livelihoods that will address life deprivations and improve the quality of life of Nigerian elders. This article examines the sustainability of retirement livelihoods and its impact on quality of life of formal sector retirees in Nigeria. It argues that beyond the conventional survival mechanisms, Nigerian retirees require resilient and sustainable livelihoods in order to enhance …
Does Retirement Impact Health Care Utilization?, Norma Coe, Gema Zamarro
Does Retirement Impact Health Care Utilization?, Norma Coe, Gema Zamarro
Gema Zamarro
How Does Retirement Impact Health Behaviors? An International Comparison, Norma Coe, Gema Zamarro