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NO. 310 报告人:黄娜群

——Do Elderly Individuals Claim Social Security Early or Cash-out Home Equity When House Prices Appreciate?

编辑:admin 时间:2019年03月15日 访问次数:1907

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题  目:Do Elderly Individuals Claim Social Security Early or Cash-out Home Equity When House Prices Appreciate?

报告人:黄娜群  助理教授 南京审计大学城市发展研究院

主持人:金樟峰  博士后  凤凰彩票官网_凤凰彩票网_凤凰娱乐时时彩

时  间:2019年3月15日   星期五   12:00-13:30

地  点:浙江大学玉泉校区经济学院418室  

  

Abstract:

We examine the extent to which changes in house prices affect when eligible individuals start to receive Social Security Retirement Income, which determines monthly benefits received through the program. Since changes in house prices and the claiming of Social Security are likely to be correlated with unobserved local demand shocks, we employ an instrumental variables strategy. Our instrument for the change in house prices is the land supply elasticity of an MSA interacted with changes in the national house price index. Using data from the Health and Retirement Survey, we find that the elderly delay Social Security claiming when house prices increase during a boom period, but not during a bust. Our findings also suggest that financially constrained households are more likely to delay claiming Social Security if house prices appreciate, and they do so by retaining their current residences but increasing the amount of their home loans.

 

  

CRPE秘书处
2019-3-8