Labor Market Shocks and Early Social Security Benefit Claiming

Probabilistic Thinking and Early Social Security Claiming

Early Claiming of Social Security Benefits and Labor Supply Behavior of Older Americans.

The labor supply incentives provided by the early retirement rules of the United States Social Security Old Age benefits program are of growing importance as the Normal Retirement Age (NRA) increases to 67, and the labor force participation of Older Americans starts to increase. These incentives allow individuals who claim benefits before the NRA but continue to work, or return to the labor for...

Probabilistic Thinking and Social Security Claiming

This study analyzes the extent to which an individual’s survival expectations influence his or her decision to claim social security benefits at an early age. We find that subjective survival probabilities capture meaningful behavioral responses to incentives for early Social Security claiming when they are purged of measurement error using risk factors as instruments. Among people who are stil...

Labor Market Search and Monetary Shocks

A number of recent papers have focused on the role of real factors in accounting for the persistent effects of monetary shocks. These factors include habit persistence in consumption, variable capital utilization, and produced inputs. In this chapter, I focus on labor market rigidities that prevent unemployed workers from Þnding new jobs immediately and Þrms with job vacancies from Þlling them ...

Labor market shocks and marriage duration

Are couples who have been together longer more likely to stick together in the face of adversity? This paper uses monthly data from the Survey of Income and Program Participation to investigate the impact on relationship duration of labor market shocks such as layoff, discharge for cause, and disability. Using a Cox proportional hazard model, I show that generally these labor market shocks sign...