| 来源类型 | Working Paper
|
| 规范类型 | 报告
|
| DOI | 10.3386/w20740
|
| 来源ID | Working Paper 20740
|
| The Long Reach of Education: Early Retirement |
| Steven Venti; David A. Wise
|
| 发表日期 | 2014-12-15
|
| 出版年 | 2014
|
| 语种 | 英语
|
| 摘要 | The goal of this paper is to draw attention to the long lasting effect of education on economic outcomes. We use the relationship between education and two routes to early retirement – the receipt of Social Security Disability Insurance (DI) and the early claiming of Social Security retirement benefits – to illustrate the long-lasting influence of education. We find that for both men and women with less than a high school degree the median DI participation rate is 6.6 times the participation rate for those with a college degree or more. Similarly, men and women with less than a high school education are over 25 percentage points more likely to claim Social Security benefits early than those with a college degree or more. We focus on four critical “pathways” through which education may indirectly influence early retirement – health, employment, earnings, and the accumulation of assets. We find that for women health is the dominant pathway through which education influences DI participation. For men, the health, earnings, and wealth pathways are of roughly equal magnitude. For both men and women the principal channel through which education influences early Social Security claiming decisions is the earnings pathway. We also consider the direct effect of education that does not operate through these pathways. The direct effect of education is much greater for early claiming of Social Security benefits than for DI participation, accounting for 72 percent of the effect of education for men and 67 percent for women. For women the direct effect of education on DI participation is not statistically significant, suggesting that the total effect may be through the four pathways. |
| 主题 | Public Economics
; National Fiscal Issues
; Health, Education, and Welfare
; Education
; Labor Economics
; Labor Supply and Demand
|
| URL | https://www.nber.org/papers/w20740
|
| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578415
|
推荐引用方式
GB/T 7714 |
Steven Venti,David A. Wise. The Long Reach of Education: Early Retirement. 2014.
|
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