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Do stronger age discrimination laws make Social Security reforms more effective?

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Author Info

  • Neumark, David
  • Song, Joanne

Abstract

Supply-side Social Security reforms intended to increase employment and delay benefit claiming among older individuals may be frustrated by age discrimination. We test for policy complementarities between these reforms and demand-side efforts to deter age discrimination, specifically studying whether stronger state-level age discrimination protections enhanced the impact of the 1983 Social Security reforms that increased the full retirement age (FRA) and reduced benefits. The evidence indicates that, for older individuals for whom early retirement benefits fell and the FRA increased, stronger state age discrimination protections were associated with delayed benefit claiming and increases in employment, with benefit claiming pushed from 65 to the new FRA, and increased employment after age 62 and age 65 that is then curtailed at the new FRA.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Public Economics.

Volume (Year): 108 (2013)
Issue (Month): C ()
Pages: 1-16

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Handle: RePEc:eee:pubeco:v:108:y:2013:i:c:p:1-16

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Web page: http://www.elsevier.com/locate/inca/505578

Related research

Keywords: Social Security; Benefit claiming; Employment; Age discrimination;

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References

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  1. Luc Behaghel & David M. Blau, 2010. "Framing Social Security Reform: Behavioral Responses to Changes in the Full Retirement Age," Working Papers wp243, University of Michigan, Michigan Retirement Research Center.
  2. Jonathan F. Pingle, 2006. "Social Security's delayed retirement credit and the labor supply of older men," Finance and Economics Discussion Series 2006-37, Board of Governors of the Federal Reserve System (U.S.).
  3. Mastrobuoni, Giovanni, 2009. "Labor supply effects of the recent social security benefit cuts: Empirical estimates using cohort discontinuities," Journal of Public Economics, Elsevier, vol. 93(11-12), pages 1224-1233, December.
  4. James E. Duggan & Christopher J. Soares, 2002. "Actuarial Nonequivalence in Early and Delayed Social Security Benefit Claims," Public Finance Review, , vol. 30(3), pages 188-207, May.
  5. Richard W. Johnson & David Neumark, 1997. "Age Discrimination, Job Separations, and Employment Status of Older Workers: Evidence from Self-Reports," Journal of Human Resources, University of Wisconsin Press, vol. 32(4), pages 779-811.
  6. Joanna Lahey, 2006. "State Age Protection Laws and the Age Discrimination in Employment Act," Working Papers, Center for Retirement Research at Boston College wp2006-24, Center for Retirement Research, revised Nov 2006.
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  8. Jonah B. Gelbach & Doug Miller, 2009. "Robust Inference with Multi-way Clustering," Working Papers 99, University of California, Davis, Department of Economics.
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  11. Robert Hutchens, 1988. "Do job opportunities decline with age?," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 42(1), pages 89-99, October.
  12. Laitner, John & Silverman, Dan, 2012. "Consumption, retirement and social security: Evaluating the efficiency of reform that encourages longer careers," Journal of Public Economics, Elsevier, vol. 96(7-8), pages 615-634.
  13. Joanna N. Lahey, 2008. "Age, Women, and Hiring: An Experimental Study," Journal of Human Resources, University of Wisconsin Press, vol. 43(1).
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  17. Kahn, James A., 1988. "Social security, liquidity, and early retirement," Journal of Public Economics, Elsevier, vol. 35(1), pages 97-117, February.
  18. David Neumark, 2008. "The Age Discrimination in Employment Act and the Challenge of Population Aging," NBER Working Papers 14317, National Bureau of Economic Research, Inc.
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  21. repec:crr:issbrf:ib2004-18 is not listed on IDEAS
  22. David Neumark & Elizabeth Powers, 2006. "Supplemental security income, labor supply, and migration," Journal of Population Economics, Springer, vol. 19(3), pages 447-479, July.
  23. Adams, Scott J., 2004. "Age discrimination legislation and the employment of older workers," Labour Economics, Elsevier, vol. 11(2), pages 219-241, April.
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Citations

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Cited by:
  1. David Neumark & Patrick Button, 2013. "Did Age Discrimination Protections Help Older Workers Weather the Great Recession?," NBER Working Papers 19216, National Bureau of Economic Research, Inc.
  2. Neumark, David & Button, Patrick, 2014. "Age discrimination and the Great Recession," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
  3. David Neumark & Joanne Song, 2012. "Barriers to Later Retirement: Increases in the Full Retirement Age, Age Discrimination, and the Physical Challenges of Work," Working Papers wp265, University of Michigan, Michigan Retirement Research Center.

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