| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16066 |
| 来源ID | Working Paper 16066 |
| Recessions, Reeling Markets, and Retiree Well-Being | |
| Courtney C. Coile; Phillip B. Levine | |
| 发表日期 | 2010-06-10 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper examines the impact of late-career investment returns and job loss on subsequent retiree well-being. Specifically, we explore whether there is a link between the income of retirees aged 70 to 79 and the stock market and labor market conditions that existed around the time of their retirement. We use data from the 2000 Census and the 2001 through 2007 American Community Surveys and consider both total personal income and income by type. We find that a long-term decline in the stock market in the years leading up to retirement leads to a modest reduction in investment income a decade or so later for those in the top third of the income distribution. The consequences of approaching retirement when the labor market is weak are more severe. A higher unemployment rate around the time of retirement reduces Social Security income for those in the bottom two-thirds of the income distribution; we estimate that an unemployed worker experiences a roughly 20 percent drop in Social Security income, consistent with claiming benefits several years early. Overall, our results indicate the importance of the challenges faced by lower-income workers who face a weak labor market as they approach retirement. |
| 主题 | Public Economics ; National Fiscal Issues ; Labor Economics ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w16066 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573741 |
| 推荐引用方式 GB/T 7714 | Courtney C. Coile,Phillip B. Levine. Recessions, Reeling Markets, and Retiree Well-Being. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16066.pdf（299KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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