scholarly journals Heterogeneity in Intra-Monthly Consumption Patterns, Self-Control, and Savings at Retirement

2009 ◽  
Vol 1 (2) ◽  
pp. 163-189 ◽  
Author(s):  
Giovanni Mastrobuoni ◽  
Matthew Weinberg
Keyword(s):  
Life Cycle ◽  
Food Intake ◽  
Social Security ◽  
Hyperbolic Discounting ◽  
Self Control ◽  
Consumption Patterns ◽  
Social Security Benefit ◽  
Permanent Income Hypothesis ◽  
Using Data ◽  
Standard Life

Using data from the Continuing Survey of Food Intake by Individuals, this paper describes the shape of consumption profiles over the month for Social Security benefit recipients that have saved different amounts for retirement. Individuals with income mostly made up of Social Security and savings smooth consumption over the pay period, while individuals without savings consume 25 percent fewer calories the week before they receive checks relative to the week afterwards. The findings for individuals without savings, who comprise about a fourth of our sample, are inconsistent with the standard Life Cycle-Permanent Income Hypothesis but are consistent with hyperbolic discounting. (JEL D14, E21, J26)

Redistribution under the Social Security benefit formula at the individual and household levels, 1992 and 2004

2012 ◽  
Vol 12 (1) ◽  
pp. 1-27 ◽  
Author(s):  
ALAN L. GUSTMAN ◽  
THOMAS L. STEINMEIER ◽  
NAHID TABATABAI
Keyword(s):  
Social Security ◽  
Labor Force Participation ◽  
Social Security Benefit ◽  
Household Level ◽  
Individual Level ◽  
The Social ◽  
High Earning ◽  
Using Data ◽  
The Individual ◽  
Over Time

AbstractStudies using data from the early 1990s suggested that while the progressive Social Security benefit formula succeeded in redistributing benefits from individuals with high earnings to individuals with low earnings, it was much less successful in redistributing benefits from households with high earnings to households with low earnings. Wives often earned much less than their husbands. As a result, much of the redistribution at the individual level was effectively from high earning husbands to their own lower earning wives. In addition, spouse and survivor benefits accrue disproportionately to women from high income households. Both factors mitigate redistribution at the household level. It has been argued that with the increase in the labor force participation and earnings of women, Social Security now should do a better job of redistributing benefits at the household level. To be sure, when we compare outcomes for a cohort with a household member age 51 to 56 in 1992 with those from a cohort born twelve years later, redistribution at the household level has increased over time. Nevertheless, as of 2004 there still is substantially less redistribution of benefits from high to low earning households than from high to low earning individuals.

scholarly journals A historical welfare analysis of Social Security: Whom did the program benefit?

10.3982/qe657 ◽  
2019 ◽  
Vol 10 (4) ◽  
pp. 1357-1399 ◽  
Author(s):  
William B. Peterman ◽  
Kamila Sommer
Keyword(s):  
Life Cycle ◽  
Steady State ◽  
Social Security ◽  
Welfare Effects ◽  
Welfare Effect ◽  
Life Cycle Model ◽  
Cycle Model ◽  
The Great Depression ◽  
Standard Life ◽  
Program Benefit

A well‐established result in the literature is that Social Security reduces steady state welfare in a standard life cycle model. However, less is known about the historical quantitative effects of the program on agents who were alive when the program was adopted. In a computational life cycle model that simulates the Great Depression and the enactment of Social Security, this paper quantifies the welfare effects of the program's enactment on the cohorts of agents who experienced it. In contrast to the standard steady state results, we find that the adoption of the original Social Security generally improved these cohorts' welfare, in part because these cohorts received far more benefits relative to their contributions than they would have received if they lived their entire life in the steady state with Social Security. Moreover, the negative general equilibrium welfare effect of Social Security associated with capital crowd‐out was reduced during the transition, because it took many periods for agents to adjust their savings levels in response to the program's adoption. The positive welfare effect experienced by these transitional agents offers one explanation for why the program that may reduce welfare in the steady state was originally adopted.

In Debt and Approaching Retirement: Claim Social Security or Work Longer?

2018 ◽  
Vol 108 ◽  
pp. 401-406 ◽  
Author(s):  
Barbara A. Butrica ◽  
Nadia S. Karamcheva
Keyword(s):  
Older Adults ◽  
Social Security ◽  
Labor Force ◽  
Social Security Benefit ◽  
Older Americans ◽  
The Past ◽  
Using Data ◽  
Social Security Benefits ◽  
To Receive ◽  
Retirement Study

Over the past couple of decades, older Americans have become considerably more leveraged. This paper considers whether household debt affects the timing of retirement and Social Security benefit claiming. Using data from the Health and Retirement Study, we find that older adults with debt are more likely to work and less likely to receive Social Security benefits than those who are debt-free. Indebted adults are also more likely to delay fully retiring from the labor force and claiming their benefits. Among the sources of debt, mortgages have a stronger impact on older adults' behavior than do other sources of debt.

Early Adverse Childhood Experiences and Self-Control Development among Youth in Fragile Families

2021 ◽  
pp. 0044118X2199637
Author(s):  
Melissa S. Jones ◽  
Hayley Pierce ◽  
Constance L. Chapple
Keyword(s):  
Life Course ◽  
Adverse Childhood Experiences ◽  
Behavioral Outcomes ◽  
Self Control ◽  
Fragile Families ◽  
Childhood Experiences ◽  
Considerable Research ◽  
Adverse Childhood ◽  
Using Data

Though considerable research links both a lack of self-control and adverse childhood experiences (ACEs) to a variety of negative health and behavioral outcomes, few studies to date have explored whether ACEs are associated with deficits in self-control. Using data from the Fragile Families and Child Wellbeing Study (FFCW; n = 3,444) and a life course theoretical framework, this study aims to address this gap in the literature by examining the relationships between individual ACEs, cumulative ACEs, timing of ACEs, and durations of early ACEs and self-control development among youth. Our results indicate that as the number of ACEs (by age 5) experienced incrementally increases, the likelihood of reported self-control decreases. Moreover, when it comes to the timing and duration of ACE exposure, ACEs that are high but late, intermittent, or chronically high significantly decrease self-control. Based on our findings, researchers should continue to explore the role of ACEs in youth self-control development.

Examining the Role of Power-Control Theory and Self-Control to Account for Computer Hacking

2020 ◽  
pp. 001112872098189
Author(s):  
Thomas J. Holt ◽  
Kevin F. Steinmetz
Keyword(s):  
Gender Difference ◽  
Control Theory ◽  
Power Control ◽  
Gender Disparity ◽  
Criminological Theory ◽  
Self Control ◽  
Self Report ◽  
Computer Hacking ◽  
Using Data

Criminological inquiry consistently identifies a gender difference in offending rates, which are also evident among certain forms of cybercrime. The gender difference in cybercrime offending is particularly large within computer hacking, though few have specifically addressed this issue through applications of criminological theory. The current study attempted to account for the gender disparity in hacking through a test of power-control theory, which considers the role of class and family structure. This analysis also incorporated an extension of power-control theory through the influence of low self-control. Using data from the Second International Self-Report of Delinquency study (ISRD-2), logistic regression analyses were estimated, producing partial support for both theories to account for hacking. Implications for theory and research were explored in detail.

scholarly journals Nonparametric Analysis of Time-Inconsistent Preferences

2021 ◽  
Author(s):  
Laura Blow ◽  
Martin Browning ◽  
Ian Crawford
Keyword(s):  
Sufficient Conditions ◽  
Revealed Preference ◽  
Hyperbolic Discounting ◽  
Time Preferences ◽  
Hyperbolic Model ◽  
Nonparametric Analysis ◽  
Time Horizons ◽  
Time Inconsistent ◽  
Using Data ◽  
Necessary And Sufficient

Abstract This paper provides a revealed preference characterisation of quasi-hyperbolic discounting which is designed to be applied to readily-available expenditure surveys. We describe necessary and sufficient conditions for the leading forms of the model and also study the consequences of the restrictions on preferences popularly used in empirical lifecycle consumption models. Using data from a household consumption panel dataset we explore the prevalence of time-inconsistent behaviour. The quasi-hyperbolic model provides a significantly more successful account of behaviour than the alternatives considered. We estimate the joint distribution of time preferences and the distribution of discount functions at various time horizons.

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