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Full-Text Articles in Social and Behavioral Sciences
Why You Should Care About The Threatened Middle Class, Jill Littrell, Fred Brooks, Jan Ivery, Mary Ohmer
Why You Should Care About The Threatened Middle Class, Jill Littrell, Fred Brooks, Jan Ivery, Mary Ohmer
jill l littrell Dr.
In the last two decades, the income and security of the individual middle class worker has declined and the gap between the middle class and the wealthy has widened. We explain how this is bad for democracy, the economy, and the aggregate health of the nation. We examine the governmental policies and interventions that increased the middle class following the depression and maintained its vigor through the post-World War II period. The impetus for these changes in governmental policies in the 1930s was to end the Great Depression. We pose the question of whether a nation can recover from a …
Does Retirement Make You Happy? A Simultaneous Equations Approach, Raquel Fonseca, Arie Kapteyn, Jinkook Lee, Gema Zamarro
Does Retirement Make You Happy? A Simultaneous Equations Approach, Raquel Fonseca, Arie Kapteyn, Jinkook Lee, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
Continued improvements in life expectancy and fiscal insolvency of public pensions have led to an increase in pension entitlement ages in several countries, but its consequences for subjective well-being are largely unknown. Financial consequences of retirement complicate the estimation of effects of retirement on subjective well-being as financial circumstances may influence subjective well-being, and therefore, the effects of retirement are likely to be confounded by the change in income. At the same time, unobservable determinants of income are probably related with unobservable determinants of subjective wellbeing, making income possibly endogenous if used as control in subjective wellbeing regressions. To address …
Differences Between The Early Stages Of The Unemployment Rates: The Great Recession Vs. The Great Depression, Lall Ramrattan, Michael Szenberg
Differences Between The Early Stages Of The Unemployment Rates: The Great Recession Vs. The Great Depression, Lall Ramrattan, Michael Szenberg
Lander College of Arts and Sciences Publications and Research
We test for differences between the Great Recession and the Great Depression in the US, using unemployment rates. The test used is ANOVA. The hypothesis advanced is that the early phases of the recession and depression are non-different. At first we reject the hypothesis. But by incorporating government involvement for the two periods, we obtain moderate arguments for the acceptance of the hypothesis. The paper starts out with background ideas of the two periods, then proceeds to the testing based on actual data, deviation of actual from normal or NAIRU rates, and adjusted data for government capital injection and subsidies.
A Longitudinal Study Of Well-Being Of Older Europeans: Does Retirement Matter?, Raquel Fonseca, Arie Kapteyn, Jinkook Lee, Gema Zamarro, Kevin Feeney
A Longitudinal Study Of Well-Being Of Older Europeans: Does Retirement Matter?, Raquel Fonseca, Arie Kapteyn, Jinkook Lee, Gema Zamarro, Kevin Feeney
Gema Zamarro
We examine determinants of financial and subjective well-being, in particular poverty and depression, among older individuals in Europe. We do so using the 2004, 2006, and 2010 waves of the Survey of Health Ageing and Retirement in Europe and estimating dynamic panel data and binary choice transition models. We find a number of common effects across financial and subjective well-being. Unemployment, disabilities, serious health conditions, lower education, being female, and not being married increase the probability of poverty or depression. Conversely, healthy individuals, those with higher levels of education, males, and married individuals have higher probabilities of exiting poverty or …