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Using a Structural Retirement Model to Simulate the Effect of Changes to the OASDI and Medicare Programs

Author

Listed:
  • John Bound

    (University of Michigan and NBER)

  • Todd Stinebrickner

    (University of Western Ontario)

  • Timothy Waidman

    (Urban Institute)

Abstract

In this paper, we specify a dynamic programming model that addresses the interplay among health, financial resources, and the labor market behavior of men in the later part of their working lives. The model is estimated using data from the Health and Retirement Study. We use the model to simulate the impact on behavior of raising the normal retirement age, eliminating early retirement altogether and introducing universal health insurance.

Suggested Citation

  • John Bound & Todd Stinebrickner & Timothy Waidman, 2004. "Using a Structural Retirement Model to Simulate the Effect of Changes to the OASDI and Medicare Programs," Working Papers wp091, University of Michigan, Michigan Retirement Research Center.
    • Handle: RePEc:mrr:papers:wp091
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    References listed on IDEAS

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    Cited by:

    1. Stefan Staubli, 2009. "Tightening the Purse Strings: The Effect of Stricter DI Eligibility Criteria on Labor Supply," NRN working papers 2009-30, The Austrian Center for Labor Economics and the Analysis of the Welfare State, Johannes Kepler University Linz, Austria.
    2. Esther Duflo, 2005. "Monitoring Works: Getting Teachers to Come to School," Working Papers id:301, eSocialSciences.
    3. van der Klaauw, Wilbert & Wolpin, Kenneth I., 2008. "Social security and the retirement and savings behavior of low-income households," Journal of Econometrics, Elsevier, vol. 145(1-2), pages 21-42, July.
    4. Duggan, Mark & Singleton, Perry & Song, Jae, 2007. "Aching to retire? The rise in the full retirement age and its impact on the social security disability rolls," Journal of Public Economics, Elsevier, vol. 91(7-8), pages 1327-1350, August.

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