EconPapers    
Economics at your fingertips  
 

Social Security and the Retirement and Savings Behavior of Low Income Households

Wilbert van der Klaauw () and Kenneth Wolpin ()
Additional contact information
Kenneth Wolpin: Department of Economics, University of Pennsylvania

PIER Working Paper Archive from Penn Institute for Economic Research, Department of Economics, University of Pennsylvania

Abstract: In this paper, we develop and estimate a model of retirement and savings incorporating limited borrowing, stochastic wage offers, health status and survival, social security benefits, Medicare and employer provided health insurance coverage, and intentional bequests. The model is estimated on sample of relatively poor households from the first three waves of the Health and Retirement Study (HRS), for whom we would expect social security income to be of particular importance. The estimated model is used to simulate the responses to several counterfactual experiments corresponding to changes in social security rules. These include changes in benefit levels, in the payroll tax, in the social security earnings tax and in early and normal retirement ages.

Keywords: Social Security; Retirement; Savings (search for similar items in EconPapers)
JEL-codes: D1 J2 (search for similar items in EconPapers)
Pages: 90 pages
Date: 2005-03-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13) Track citations by RSS feed

Downloads: (external link)
https://economics.sas.upenn.edu/sites/default/file ... ng-papers/05-020.pdf (application/pdf)

Related works:
Journal Article: Social security and the retirement and savings behavior of low-income households (2008) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pen:papers:05-020

Access Statistics for this paper

More papers in PIER Working Paper Archive from Penn Institute for Economic Research, Department of Economics, University of Pennsylvania 133 South 36th Street, Philadelphia, PA 19104. Contact information at EDIRC.
Bibliographic data for series maintained by Administrator ().

 
Page updated 2020-07-05
Handle: RePEc:pen:papers:05-020