Future Social Security Entitlements and the Retirement Decision
利用健康与退休调查数据，研究社会保障和私人养老金激励对男性退休决策的影响，发现未来工作激励是退休的重要决定因素。
A critical question for Social Security policy is how program incentives affect retirement behavior. We use the Health and Retirement Survey (HRS) to examine the impact of Social Security incentives on male retirement. We implement forward-looking models whereby individuals consider the incentives to work in all future years. We find that forward-looking incentive measures for Social Security are significant determinants of retirement. We also find that private pension incentives have roughly similar effects. Our findings suggest that Social Security policies that increase the incentives to work at older ages can significantly reduce the labor force exit rate of older workers. Copyright by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.