We 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.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
6303.
Length: Date of creation: Dec 1997 Date of revision: Handle: RePEc:nbr:nberwo:6303
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Find related papers by JEL classification: I38 - Health, Education, and Welfare - - Welfare 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
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Mary Daly & Richard V. Burkhauser, 2003.
"The Supplemental Security Income Program,"
NBER Chapters,
in: Means-Tested Transfer Programs in the United States, pages 79-140
National Bureau of Economic Research, Inc.
[Downloadable!]
David Neumark & Elizabeth T. Powers, 2006.
"SSI, Labor Supply, and Migration,"
Working Papers
050628, University of California-Irvine, Department of Economics.
[Downloadable!]
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