Retirement and Wealth

Social Security Bulletin, Vol. 64, No. 2

Posted: 5 Mar 2003

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

Multiple version iconThere are 3 versions of this paper

Abstract

Using data from the Health and Retirement Study, we estimate reduced form retirement and wealth equations. The retirement equation relates the probability of retiring to the "premium value", a forward looking measure of the future value of pensions and social security that better reflects the accrual of benefits under defined contribution plans. Such simple models suggest that if the social security early retirement age were to be raised, more people would retire earlier rather than later. Our work analyzes the reasons for such counter intuitive predictions, and explains why a structural analysis is required to generate more reasonable results.

Note: This is a description of the paper and not the actual abstract.

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

Suggested Citation

Gustman, Alan L. and Steinmeier, Thomas L., Retirement and Wealth. Social Security Bulletin, Vol. 64, No. 2, Available at SSRN: https://ssrn.com/abstract=338100

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)

Here is the Coronavirus
related research on SSRN

Paper statistics

Abstract Views
681
PlumX Metrics