The Influence of Pensions on Behavior: How Much Do We Really Know?

TIAA-CREF Institute Working Paper No. RD71

12 Pages Posted: 10 May 2002

See all articles by Alan L. Gustman

Alan L. Gustman

Dartmouth College - Department of Economics; National Bureau of Economic Research (NBER)

Thomas L. Steinmeier

Texas Tech University - Department of Economics and Geography

Date Written: March 2002

Abstract

Economists have developed models to explain the impact of pensions and Social Security on various outcomes, such as retirement, worker turnover, and saving. However, some recent research has raised questions about these conventional models. This issue of Research Dialogue summarizes findings from our ongoing research on pensions and Social Security. Using data from the new longitudinal Health and Retirement Study that reports both the respondents' own knowledge about their pensions and the actual provisions of their pension plans, our research emphasizes how well the conventional model does in describing behavior, answers some of the questions raised by others, and raises some new questions. We also discuss the implications of our findings for researchers and policy makers.

JEL Classification: J26, H55, D91, E21, D31, J14, J32

Suggested Citation

Gustman, Alan L. and Steinmeier, Thomas L., The Influence of Pensions on Behavior: How Much Do We Really Know? (March 2002). TIAA-CREF Institute Working Paper No. RD71, Available at SSRN: https://ssrn.com/abstract=308565 or http://dx.doi.org/10.2139/ssrn.308565

Alan L. Gustman (Contact Author)

Dartmouth College - Department of Economics ( email )

6106 Rockefeller Center
Hanover, NH 03755
United States
603-646-2641 (Phone)
603-646-2122 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Thomas L. Steinmeier

Texas Tech University - Department of Economics and Geography ( email )

Lubbock, TX 79409-2101
United States
806-742-2201 (Phone)

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