Labor Supply Effects of the Recent Social Security Benefit Cuts : Empirical Estimates Using Cohort Discontinuities

@inproceedings{Mastrobuoni2006LaborSE,
  title={Labor Supply Effects of the Recent Social Security Benefit Cuts : Empirical Estimates Using Cohort Discontinuities},
  author={Giovanni Mastrobuoni},
  year={2006}
}
In response to a “crisis” in Social Security financing two decades ago Congress implemented an increase in the Normal Retirement Age (NRA) of two months per year for cohorts born in 1938 and after. These cohorts began reaching retirement age in 2000. This paper studies the effects of these benefit cuts on recent retirement behavior. The evidence strongly suggests that the mean retirement age of the affected cohorts has increased by about half as much as the increase in the NRA. If older workers… CONTINUE READING

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