The Effect of Means-Tested Income Support for the Elderly on Pre-Retirement Saving: Evidence from the SSI Program in the U.S
AbstractWe attempt to draw inferences about potential behavioral responses to means-tested" income support for the elderly by examining the effects on saving of the Supplemental Security" Income (SSI) program for the aged in the U.S. Part of the SSI program provides payments to the" poor elderly, thus operating as a means-tested public retirement program. The federal" government sets eligibility criteria and benefit levels for the federal component of the program but many states supplement federal SSI benefits substantially. We exploit the state-level" variation in SSI benefits to estimate the effects of SSI on saving. We use data from selected" waves of the 1984 Survey of Income Program Participation (SIPP). We find evidence that high" SSI benefits reduce saving among households with heads who are approaching the SSI eligibility" age and who are likely participants in the program.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6303.
Date of creation: Dec 1997
Date of revision:
Publication status: published as Journal of Public Economics Published as "Is Job Stability Declining in the U.S. Economy?: Comment", Industrial and Labor Relations Review, Vol. 49, no. 2 (January 1996): 348-3 51.
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
More information through EDIRC
Other versions of this item:
- Neumark, David & Powers, Elizabeth, 1998. "The effect of means-tested income support for the elderly on pre-retirement saving: evidence from the SSI program in the U.S," Journal of Public Economics, Elsevier, vol. 68(2), pages 181-206, May.
- I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Orazio P. Attanasio, 1993.
"A Cohort Analysis of Saving Behavior by U.S. Households,"
NBER Working Papers
4454, National Bureau of Economic Research, Inc.
- Orazio P. Attanasio, 1998. "Cohort Analysis of Saving Behavior by U.S. Households," Journal of Human Resources, University of Wisconsin Press, vol. 33(3), pages 575-609.
- Orazio Attanasio, 1993. "A cohort analysis of saving behaviour by US households," IFS Working Papers W93/04, Institute for Fiscal Studies.
- Nancy Jianakoplos & Paul Menchik & Owen Irvine, 1989. "Using Panel Data to Assess the Bias in Cross-sectional Inferences of Life-Cycle Changes in the Level and Composition of Household Wealth," NBER Chapters, in: The Measurement of Saving, Investment, and Wealth, pages 553-644 National Bureau of Economic Research, Inc.
- James P. Smith, 2004.
"Racial and Ethnic Differences in Wealth in the Health and Retirement Study,"
Labor and Demography
- Smith, J.P., 1996. "Racial and Ethnic Differences in Wealth in the Health and Retirement Study," Papers 96-12, RAND - Reprint Series.
- Olivia S. Mitchell & Stephen P. Zeldes, 1996.
"Social Security Privatization: A Structure for Analysis,"
NBER Working Papers
5512, National Bureau of Economic Research, Inc.
- Mitchell, Olivia S & Zeldes, Stephen P, 1996. "Social Security Privatization: A Structure for Analysis," American Economic Review, American Economic Association, vol. 86(2), pages 363-67, May.
- Powers, Elizabeth T., 1998. "Does means-testing welfare discourage saving? evidence from a change in AFDC policy in the United States," Journal of Public Economics, Elsevier, vol. 68(1), pages 33-53, April.
- Jonathan Gruber & Aaron S. Yelowitz, 1998.
"Public Health Insurance and Private Savings,"
JCPR Working Papers
42, Northwestern University/University of Chicago Joint Center for Poverty Research.
- J. Gruber & A. Yelowitz, . "Public Health Insurance and Private Savings," Institute for Research on Poverty Discussion Papers 1135-97, University of Wisconsin Institute for Research on Poverty.
- Jonathan Gruber & Aaron Yelowitz, 1997. "Public Health Insurance and Private Savings," UCLA Economics Working Papers 772, UCLA Department of Economics.
- Jonathan Gruber & Aaron Yelowitz, 1997. "Public Health Insurance and Private Savings," NBER Working Papers 6041, National Bureau of Economic Research, Inc.
- David Neumark & Elizabeth Powers, . "Means Testing Social Security," Pension Research Council Working Papers 97-24, Wharton School Pension Research Council, University of Pennsylvania.
- Poterba, James M & Venti, Steven F & Wise, David A, 1994. "Targeted Retirement Saving and the Net Worth of Elderly Americans," American Economic Review, American Economic Association, vol. 84(2), pages 180-85, May.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.