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e61 Academic Lounge Session with Ellen Stuart, Lecturer (University of Sydney)

18 September @ 11:00 am - 12:00 pm AEST

Free

Time & Location

Wednesday 18th September 11:00 am – 12:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia

 

About the event

The Effects of Increasing the Full Retirement Age on Retirement Savings: Evidence from U.S. Tax Data

 

Abstract

We study how the U.S. Social Security program influences retirement savings. Our context is a 1983 reform that reduced old-age benefits by increasing the Full Retirement Age (FRA) in discontinuous, two-month increments for several birth cohorts. Each two-month increase in the FRA corresponds to a $4,140 loss in lifetime discounted Social Security wealth on average. Using full-population administrative tax data and a stacked regression discontinuity design, we estimate the causal effects of the reform on earnings and retirement savings. We find a $1,900 increase in the present discounted value of earnings between ages 62 and 72 and a $200 increase in the present discounted value of contributions to employer-sponsored retirement savings plans over the same age range. Notably, these responses take place about two decades after the announcement of the reform. Our study provides the first precisely estimated effects of the 1983 reform on savings and emphasizes an important link between earnings and savings at older ages in settings where people are covered by workplace retirement plans.

 

Bio

Ellen is an applied microeconomist. Her research interests are in public economics, with a particular focus on behavioural responses to taxation and tax enforcement. Prior to joining the School of Economics, she was a postdoctoral fellow at Harvard University and Policy Impacts. Ellen received her PhD in economics from the University of Michigan in 2021.

Details

Date:
18 September
Time:
11:00 am - 12:00 pm AEST
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia

RSVP

2 Going
RSVP Here

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e61 Academic Lounge Session with Ellen Stuart, Lecturer (University of Sydney)


e61 Institute Level 3/17-21 Bellevue Street, Surry Hills, NSW, 2010, Australia
Loading Events

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e61 Academic Lounge Session with Ellen Stuart, Lecturer (University of Sydney)

18 September @ 11:00 am - 12:00 pm AEST

Free

Time & Location

Wednesday 18th September 11:00 am – 12:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia

 

About the event

The Effects of Increasing the Full Retirement Age on Retirement Savings: Evidence from U.S. Tax Data

 

Abstract

We study how the U.S. Social Security program influences retirement savings. Our context is a 1983 reform that reduced old-age benefits by increasing the Full Retirement Age (FRA) in discontinuous, two-month increments for several birth cohorts. Each two-month increase in the FRA corresponds to a $4,140 loss in lifetime discounted Social Security wealth on average. Using full-population administrative tax data and a stacked regression discontinuity design, we estimate the causal effects of the reform on earnings and retirement savings. We find a $1,900 increase in the present discounted value of earnings between ages 62 and 72 and a $200 increase in the present discounted value of contributions to employer-sponsored retirement savings plans over the same age range. Notably, these responses take place about two decades after the announcement of the reform. Our study provides the first precisely estimated effects of the 1983 reform on savings and emphasizes an important link between earnings and savings at older ages in settings where people are covered by workplace retirement plans.

 

Bio

Ellen is an applied microeconomist. Her research interests are in public economics, with a particular focus on behavioural responses to taxation and tax enforcement. Prior to joining the School of Economics, she was a postdoctoral fellow at Harvard University and Policy Impacts. Ellen received her PhD in economics from the University of Michigan in 2021.

Details

Date:
18 September
Time:
11:00 am - 12:00 pm AEST
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia

RSVP

2 Going
RSVP Here

Time & Location

Wednesday 18th September 11:00 am – 12:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia

 

About the event

The Effects of Increasing the Full Retirement Age on Retirement Savings: Evidence from U.S. Tax Data

 

Abstract

We study how the U.S. Social Security program influences retirement savings. Our context is a 1983 reform that reduced old-age benefits by increasing the Full Retirement Age (FRA) in discontinuous, two-month increments for several birth cohorts. Each two-month increase in the FRA corresponds to a $4,140 loss in lifetime discounted Social Security wealth on average. Using full-population administrative tax data and a stacked regression discontinuity design, we estimate the causal effects of the reform on earnings and retirement savings. We find a $1,900 increase in the present discounted value of earnings between ages 62 and 72 and a $200 increase in the present discounted value of contributions to employer-sponsored retirement savings plans over the same age range. Notably, these responses take place about two decades after the announcement of the reform. Our study provides the first precisely estimated effects of the 1983 reform on savings and emphasizes an important link between earnings and savings at older ages in settings where people are covered by workplace retirement plans.

 

Bio

Ellen is an applied microeconomist. Her research interests are in public economics, with a particular focus on behavioural responses to taxation and tax enforcement. Prior to joining the School of Economics, she was a postdoctoral fellow at Harvard University and Policy Impacts. Ellen received her PhD in economics from the University of Michigan in 2021.

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e61 Academic Lounge Session with Rachael Meager, Associate Professor (UNSW Business School)

14 August @ 11:00 am - 12:00 pm AEST

Free

Time & Location

Wednesday 14th August, 2024, 11:00 am – 12:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia

 

About the event

Subject and Abstract to be advised

 

Bio

My research interests lie in the intersection of Bayesian statistics, econometrics and development economics. I most often do applied econometrics aimed at measuring generalisability and quantifying uncertainty around our knowledge base in development economics and economics more broadly.  I focus on Bayesian modelling of treatment effect heterogeneity at multiple levels within data sets and literatures.

Details

Date:
14 August
Time:
11:00 am - 12:00 pm AEST
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia

RSVP

5 Going
RSVP Here
Loading Events

« All Events

e61 Academic Lounge Session with Ellen Stuart, Lecturer (University of Sydney)

18 September @ 11:00 am - 12:00 pm AEST

Free

Time & Location

Wednesday 18th September 11:00 am – 12:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia

 

About the event

The Effects of Increasing the Full Retirement Age on Retirement Savings: Evidence from U.S. Tax Data

 

Abstract

We study how the U.S. Social Security program influences retirement savings. Our context is a 1983 reform that reduced old-age benefits by increasing the Full Retirement Age (FRA) in discontinuous, two-month increments for several birth cohorts. Each two-month increase in the FRA corresponds to a $4,140 loss in lifetime discounted Social Security wealth on average. Using full-population administrative tax data and a stacked regression discontinuity design, we estimate the causal effects of the reform on earnings and retirement savings. We find a $1,900 increase in the present discounted value of earnings between ages 62 and 72 and a $200 increase in the present discounted value of contributions to employer-sponsored retirement savings plans over the same age range. Notably, these responses take place about two decades after the announcement of the reform. Our study provides the first precisely estimated effects of the 1983 reform on savings and emphasizes an important link between earnings and savings at older ages in settings where people are covered by workplace retirement plans.

 

Bio

Ellen is an applied microeconomist. Her research interests are in public economics, with a particular focus on behavioural responses to taxation and tax enforcement. Prior to joining the School of Economics, she was a postdoctoral fellow at Harvard University and Policy Impacts. Ellen received her PhD in economics from the University of Michigan in 2021.

Details

Date:
18 September
Time:
11:00 am - 12:00 pm AEST
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia

RSVP

2 Going
RSVP Here