The Joint Labor Supply Decision of Married Couples and the Social Security Pension System

Show simple item record Nishiyama, Shinichi 2010-11-30T16:02:25Z 2010-11-30T16:02:25Z 2010-09
dc.description.abstract The current U.S. Social Security program redistributes resources from high wage workers to low wage workers and from two-earner couples to one-earner couples. The present paper extends a standard general-equilibrium overlapping-generations model with uninsurable wage shocks to analyze the effect of spousal and survivors benefits on the labor supply of married couples. The heterogeneous-agent model calibrated to the 2009 U.S. economy predicts that removing spousal and survivors benefits would increase female market work hours by 4.3-4.9% and total output by 1.1-1.5% in the long run, depending on the government financing assumption. If the increased tax revenue due to higher economic activity after the policy change was redistributed in a lumpsum manner, a phased-in cohort by-cohort removal of these benefits would make all current and future age cohorts on average better off. en_US
dc.description.sponsorship Social Security Administration en_US
dc.format.extent 773438 bytes
dc.format.mimetype application/pdf
dc.language.iso en_US en_US
dc.publisher Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104 en_US
dc.relation.ispartofseries WP 2010-229 en_US
dc.subject WP 2010-229 en_US
dc.title The Joint Labor Supply Decision of Married Couples and the Social Security Pension System en_US
dc.type Working Paper en_US
dc.subject.hlbsecondlevel Population and Demography
dc.subject.hlbtoplevel Social Sciences
dc.contributor.affiliationum Georgia State University en_US
dc.contributor.affiliationumcampus Ann Arbor en_US
dc.owningcollname Retirement Research Center, Michigan (MRRC)
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