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Social Security and the Joint Trends in Labor Supply and Benefits Receipt Among Older Men

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  • Bo MacInnis
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    Abstract

    Using data from the Current Population Surveys, we find an increase in the fraction of older American men who worked without receiving Social Security retirement benefits and a decline in the fraction of men who claimed benefits without working during the period 1980-2006. Using bivariate probit regressions, we find that an increase in Social Security’s normal retirement age decreased labor force participation rate regardless of benefits receipt status; that an increase in the delayed retirement credit increased benefit receipt regardless of labor force status; and that labor force participation and claiming Social Security benefits are strongly and negatively correlated.

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    File URL: http://crr.bc.edu/working-papers/social-security-and-the-joint-trends-in-labor-supply-and-benefits-receipt-among-older-men/
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    Bibliographic Info

    Paper provided by Center for Retirement Research in its series Working Papers, Center for Retirement Research at Boston College with number wp2009-22.

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    Length: 39 pages
    Date of creation: Oct 2009
    Date of revision: Oct 2009
    Handle: RePEc:crr:crrwps:wp2009-22

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    1. David S. Loughran & Steven Haider, 2007. "Do the Elderly Respond to Taxes on Earnings? Evidence from the Social Security Retirement Earnings Test," Working Papers, RAND Corporation Publications Department 223-1, RAND Corporation Publications Department.
    2. Richard Disney & Sarah Smith, 2002. "The Labour Supply Effect of the Abolition of the Earnings Rule for Older Workers in the United Kingdom," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 112(478), pages C136-C152, March.
    3. Leora Friedberg, 2000. "The Labor Supply Effects of the Social Security Earnings Test," The Review of Economics and Statistics, MIT Press, vol. 82(1), pages 48-63, February.
    4. Pierre-Carl Michaud & Arthur van Soest, 2007. "How did the Elimination of the Earnings Test above the Normal Retirement Age affect Retirement Expectations?," Social and Economic Dimensions of an Aging Population Research Papers, McMaster University 174, McMaster University.
    5. Leora Friedberg & Anthony Webb, 2006. "Persistence in Labor Supply and the Response to the Social Security Earnings Test," Working Papers, Center for Retirement Research at Boston College, Center for Retirement Research wp2006-27, Center for Retirement Research, revised Dec 2006.
    6. Alan B. Krueger & Bruce D. Meyer, 2002. "Labor Supply Effects of Social Insurance," NBER Working Papers 9014, National Bureau of Economic Research, Inc.
    7. Gruber, Jonathan & Orszag, Peter, 2003. "Does the Social Security Earnings Test Affect Labor Supply and Benefits Receipt?," National Tax Journal, National Tax Association, vol. 56(4), pages 755-73, December.
    8. Dora L. Costa, 1998. "The Evolution of Retirement," NBER Chapters, National Bureau of Economic Research, Inc, in: The Evolution of Retirement: An American Economic History, 1880-1990, pages 6-31 National Bureau of Economic Research, Inc.
    9. Gary V. Engelhardt & Anil Kumar, 2007. "The Repeal of the Retirement Earnings Test and the Labor Supply of Older Men," Working Papers, Center for Retirement Research at Boston College, Center for Retirement Research wp2007-01, Center for Retirement Research, revised May 2007.
    10. Jonathan F. Pingle, 2006. "Social Security's delayed retirement credit and the labor supply of older men," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2006-37, Board of Governors of the Federal Reserve System (U.S.).
    11. Coile, Courtney & Diamond, Peter & Gruber, Jonathan & Jousten, Alain, 2002. "Delays in claiming social security benefits," Journal of Public Economics, Elsevier, Elsevier, vol. 84(3), pages 357-385, June.
    12. Zabalza, A. & Pissarides, C. & Barton, M., 1980. "Social security and the choice between full-time work, part-time work and retirement," Journal of Public Economics, Elsevier, Elsevier, vol. 14(2), pages 245-276, October.
    13. Burtless, Gary & Moffitt, Robert A, 1985. "The Joint Choice of Retirement Age and Postretirement Hours of Work," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 3(2), pages 209-36, April.
    14. Joseph F. Quinn, 1997. "Retirement Trends and Patterns in the 1990s: The End of an Era?," Boston College Working Papers in Economics, Boston College Department of Economics 385, Boston College Department of Economics.
    15. Song, Jae G. & Manchester, Joyce, 2007. "New evidence on earnings and benefit claims following changes in the retirement earnings test in 2000," Journal of Public Economics, Elsevier, Elsevier, vol. 91(3-4), pages 669-700, April.
    16. Baker, Michael & Benjamin, Dwayne, 1999. "How do retirement tests affect the labour supply of older men?," Journal of Public Economics, Elsevier, Elsevier, vol. 71(1), pages 27-51, January.
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