Home > Publications . Search All . Browse All . Country . Browse PSC Pubs . PSC Report Series

PSC In The News

RSS Feed icon

Hindustan Times points out high value of H-1B visas for US innovation, welfare, and tech firm profits

Novak, Geronimus, Martinez-Cardoso: Threat of deportation harmful to immigrants' health

Students from two worlds learn from one another in Morenoff's Inside-Out class

More News

Highlights

Heather Ann Thompson wins Pulitzer Prize for book on Attica uprising

Lam explores dimensions of the projected 4 billion increase in world population before 2100

ISR's Nick Prieur wins UMOR award for exceptional contribution to U-M's research mission

How effectively can these nations handle outside investments in health R&D?

More Highlights

Next Brown Bag

Mon, April 10, 2017, noon:
Elizabeth Bruch

Consumption, retirement and social security: Evaluating the efficiency of reform that encourages longer careers

Archived Abstract of Former PSC Researcher

Laitner, John, and Daniel Silverman. 2012. "Consumption, retirement and social security: Evaluating the efficiency of reform that encourages longer careers." Journal of Public Economics, 96(7-8): 615-634.

This paper proposes and analyzes a Social Security reform in which individuals no longer face the OASI payroll tax after, say, age 54 or a career of 34 years, and their subsequent earnings have no bearing on their benefits. We first estimate parameters of a life-cycle model. Our specification includes non-separable preferences and possible disability. It predicts a consumption-expenditure change at retirement. We use the magnitude of the expenditure change, together with households' retirement-age decisions, to identify key structural parameters. The estimated magnitude of the change in consumption-expenditure depends importantly on the treatment of consumption by adult children of the household. Simulations indicate that the reform could increase retirement ages one year or more, equivalent variations could average more than $4000 per household, and income tax revenues per household could increase by more than $14,000. (C) 2012 Elsevier B.V. All rights reserved.

DOI:10.1016/j.jpubeco.2012.02.005 (Full Text)

Browse | Search : All Pubs | Next