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Effects of Pensions on Savings : Analysis with Data from the Health and Retirement Study

Gustman, Alan L.; Steinmeier, Thomas L. - 2000

are not consistent with a simple life cycle explanation for savings. They also raise questions about whether pensions are … and Retirement Study (HRS), and the role of pensions in forming retirement wealth. Pension coverage is widespread … average for this cohort on the verge of retirement. When pensions and social security are included, wealth accumulated by the …

Persistent link: https://www.econbiz.de/10014181830

Retirement and Wealth

Gustman, Alan L. - 2003

value of pensions and social security that better reflects the accrual of benefits under defined contribution plans. Such …

Persistent link: https://www.econbiz.de/10012786844

Retirement and the Stock Market Bubble

Gustman, Alan L.; Steinmeier, Thomas L. - 2003

This paper specifies and estimates a structural dynamic stochastic model of the way individuals make retirement and saving choices in an uncertain world, and applies that model to analyze the effects of the stock market bubble on retirement behavior. The model includes individual variation both...

Persistent link: https://www.econbiz.de/10014093130

Pension and Social Security Wealth in the Health and Retirement Study

Gustman, Alan L.; Mitchell, Olivia S.; Samwick, Andrew A.; … - 2011

Together, pensions, social security and health insurance account for half of the wealth held by all households in the …

Persistent link: https://www.econbiz.de/10014043164

Retirement Effects of Proposals by the President's Commission to Strengthen Social Security

Gustman, Alan L.; Steinmeier, Thomas L. - 2005

The President's Commission to Strengthen Social Security has proposed a number of changes in Social Security, each of them introducing personal accounts funded from a portion of payroll tax receipts, and in one case, out of additional contributions. These changes are presented in the form of...

Persistent link: https://www.econbiz.de/10014028129

Policy effects in hyperbolic vs. exponential models of consumption and retirement

Gustman, Alan L.; Steinmeier, Thomas L. - In: Journal of Public Economics 96 (2012) 5, pp. 465-473

This paper constructs a structural retirement model with hyperbolic preferences and uses it to estimate the effect of several potential Social Security policy changes. Estimated effects of policies are compared using two models, one with hyperbolic preferences and one with standard exponential...

Persistent link: https://www.econbiz.de/10010574351

How Did the Recession of 2007–2009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?

Gustman, Alan L.; Steinmeier, Thomas L.; Tabatabai, Nahid - 2015

Retirement Study? This article uses household wealth and labor market data from the Health and Retirement Study (HRS) to investigate how the recent "Great Recession" has affected the wealth and retirement of those approaching retirement age as the recession began, a potentially vulnerable...

Persistent link: https://www.econbiz.de/10014164011

The Social Security Early Entitlement Age in a Structural Model of Retirement and Wealth

Gustman, Alan L.; Steinmeier, Thomas L. - 2005

A structural life cycle model of retirement and wealth attributes retirement peaks at both ages 62 and 65 to Social Security rules and wide heterogeneity in time preferences. Those with high discount rates often retire at 62. They have few assets and heavily value lost benefits from working...

Persistent link: https://www.econbiz.de/10014028096

The Social Security Early Entitlement Age in a Structural Model of Retirement and Wealth

Gustman, Alan L.; Steinmeier, Thomas L. - 2006

This paper specifies and estimates a structural life cycle model of retirement and wealth that explains the peaks in retirement both at ages 62 and at 65. Our estimates suggest that leisure and time preference are widely distributed among the population, with a bimodal distribution of time...

Persistent link: https://www.econbiz.de/10014032995

Policy effects in hyperbolic vs. exponential models of consumption and retirement

Gustman, Alan L.; Steinmeier, Thomas L. - In: Journal of public economics 96 (2012) 5/6, pp. 465-473

Persistent link: https://www.econbiz.de/10009702541

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