NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Social Security Reform and Labor Supply

Alan L. Gustman, Thomas L. Steinmeier

NBER Working Paper No. 1212 (Also Reprint No. r0604)
Issued in October 1983
NBER Program(s):   AG   LS

A structural life-cycle retirement model with an improved specification over previous models is used to analyze and compare the long-run labor supply effects of the rules for Social Security in place in 1972,1977 and 1983, and for an actuarially fair system. The effects of separate provisions from the 1983 amendments are examined. These include the raising of the normal retirement age to 67, the increase in the delayed retirement credit to 8 percent, and the lowering of the reduction rate for earnings over the test amount to one dollar for every three dollars of earnings.

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Document Object Identifier (DOI): 10.3386/w1212

Published: Gustman, Alan L. and Thomas L. Steinmeier. "The 1983 Social Security Reforms and Labor Supply Adjustments of Older Individuals in the Long Run." Journal of Labor Economics, Vol. 3, No. 2, (April 1985), pp. 237-253.

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