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A popular proposal for reforming Social Security is to supplement or replace traditional publicly financed benefits with a new system of mandatory, defined contribution private pensions. Proponents claim that private plans offer better returns than traditional Social Security. To achieve higher...
Persistent link: https://www.econbiz.de/10005627394
One of the most important labor market developments of the last century was the sustained trend toward earlier retirement among American men. This trend came to at least a temporary halt in the mid-1980s. Since then, male participation rates at older ages have stabilized or even increased...
Persistent link: https://www.econbiz.de/10005627418
All major industrial countries will experience significant population aging over the next several decades. In both academic circles and the business press it is widely believed that population aging will have important effects on financial markets because of its expected impact on saving rates...
Persistent link: https://www.econbiz.de/10005627443
An important decision facing retirement savers is how to allocate their savings across different assets. The decision includes the choice of how to divide investments between domestic and foreign holdings. This study uses return data for 1927-2005 to determine whether cross-border investing in...
Persistent link: https://www.econbiz.de/10005627469
Cash income offers an incomplete picture of the resources available to finance household consumption. Most American families are covered by an insurance plan that pays for some or all of the health care they consume. Only a comparatively small percentage of families pay for the full cost of this...
Persistent link: https://www.econbiz.de/10004972296
In the half century after World War II labor force participation in the population past age 60 fell substantially in nearly all rich countries. Declining participation rates became a matter of major concern when it became clear that population growth rates were slowing and the average age of...
Persistent link: https://www.econbiz.de/10004972300
Changes in the net immigration rate and in the age distribution and skills of immigrants have important effects on the average age and skill mix of the population. In the short run, increases in immigration boost the number of workers and aggregate earnings and reduce the ratio of elderly to...
Persistent link: https://www.econbiz.de/10008536101
The value of the tax preference for pensions depends on the marginal tax schedule and on the tax treatment of income from assets held outside a pension account. We examine the change over time in the value of pension investing, accounting for changes in the tax schedule and in the treatment of...
Persistent link: https://www.econbiz.de/10008540177
Recessions affect the timing of retirement through two channels, a weaker job market and losses in household wealth. The two phenomena have opposite effects. A weaker economy causes employers to increase permanent job separations and reduce new hires, accelerating retirements that would...
Persistent link: https://www.econbiz.de/10008805576
Using information supplied by immigrants interviewed by the Mexican Migration Project (MMP) we analyze the Social Security coverage of jobs held by legal and other-than-legal Mexican immigrants who work in the United States. Our analysis suggests that about half the Mexican-born migrants...
Persistent link: https://www.econbiz.de/10008805586