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106 records from EconBiz based on author Name
1. Next to kin : how children influence the residential mobility decisions of older adults
Begley, Jaclene; Chan, Sewin;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link
2. How Does Job Loss Affect the Timing of Retirement?
abstractWe use the Health and Retirement Study to examine the effects of job loss on factors affecting retirement incentives, including earnings, assets and pensions. We then estimate models of the retirement decision, which take into account the incentive to retire and any additional effects of displacement that are not captured by retirement incentives. There are substantial effects of displacement on retirement incentives as the result of changes to both earnings and pensions. Displacement significantly increases the probability of retirement, but only a small fraction of the displacement-induced changes in retirement behavior and labor force participation are the result of workers responding to these altered retirement incentives
Chan, Sewin; Stevens, Ann Huff;2021
Availability: Link
3. Next to Kin : How Children Influence the Housing and Mobility Decisions of Older Adults
abstractThis paper explores the mobility and residential choices of older adults, with a focus on the influence of their children’s location on those decisions. Using the geocoded Health and Retirement Study, we undertake a descriptive analysis of households’ residential experiences as they age, and statistically estimate the importance of individual, housing, and neighborhood factors on mobility decisions. We find that having adult children nearby reduces the propensity to move, with closer proximity having a stronger negative impact, up to a distance of 30 miles. In parallel, moving increases the likelihood of living closer to adult children and grandchildren, and the likelihood of receiving assistance from a child. Furthermore, households who move are more likely to locate in a dense zip code or a large metropolitan area when adult children live in such locations. These findings can inform policymaker decisions related to local housing supply, services, and infrastructure, and ultimately increase the likelihood that older adults have access to aging-appropriate homes and communities
Begley, Jaclene; Chan, Sewin;2021
Availability: Link Link
4. What You Don'T Know Can'T Help You : Pension Knowledge and Retirement Decision Making
abstractThis paper provides an answer to an important empirical puzzle in the retirement literature: while most people know little about their own pension plans, retirement behavior is strongly affected by pension incentives. We combine administrative and self-reported pension data to measure the retirement response to actual and perceived financial incentives. We find that well-informed individuals are five times more responsive to pension incentives than the average individual when knowledge is ignored. We further find that the ill-informed individuals do respond to their own misperception of the incentives, rather than being unresponsive to any incentives
Chan, Sewin; Stevens, Ann Huff;2021
Availability: Link
5. Retirement Incentives and Expectations
abstractThis paper investigates the responsiveness of individuals' retirement expectations to forward-looking measures of pension wealth accumulations. While most of the existing literature on retirement has used cross-sectional variation to identify the effects of pension and Social Security wealth on retirement behavior, we estimate fixed-effects regressions to control for unobserved heterogeneity that might be correlated with retirement plans and wealth. As expected, we find significant effects of future pension wealth accumulations on retirement expectations, but the magnitude of these effects differs substantially between OLS and fixed-effects estimation. Coefficients from fixed-effects estimation are at most half the magnitude of similar OLS regressions. Our results point to potentially large biases from the failure to control for unobserved heterogeneity in empirical models of retirement-related outcomes
Chan, Sewin; Stevens, Ann Huff;2021
Availability: Link
6. Job Loss and Retirement Behavior of Older Men
abstractThis paper uses data from the Health and Retirement Study to examine the employment and retirement behavior of men aged fifty and above who have experienced an involuntary job loss. Hazard models for returning to work and for exiting post-displacement employment are estimated and used to examine work patterns for ten years following a job loss. The findings show that a job loss results in large and lasting effects on future employment probabilities, and that these effects vary with the age of the worker. Displaced workers in their fifties are estimated to have a three in four chance of returning to work within two years after a job loss, whereas for a 62-year-old job loser, the probability is less than a third. Once re-employed, men 50 and above face significantly higher probabilities of exiting the workforce than do workers who have not experienced a recent job loss; however, the direction of this effect gradually reverses over time. The net outcome of these entry and exit rates is a substantial gap between the employment rates of men who have and have not lost jobs, that lasts at least seven years
Chan, Sewin; Stevens, Ann Huff;2021
Availability: Link
7. Migration choices of the boomerang generation : does returning home dampen labor market adjustment?
Chan, Sewin; O'Regan, Katherine M.; You, Wei;2021
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link
Citations: 4 (based on OpenCitations)
8. Migration Choices of the Boomerang Generation : Does Returning Home Dampen Labor Market Adjustment?
abstractThis paper documents how the decisions of young adults to return to live with their parents (‘boomerang') may contribute to low or declining levels of out-migration from weak labor markets. Using the Panel Study of Income Dynamics and a locational choice model, we find that the likelihood of a non-boomerang location being chosen by a young adult increases with local wages, while wages have a much smaller effect on selecting the boomerang option. In addition, the likelihood that a boomerang location is selected actually increases with the location's unemployment rate. The lower sensitivity of boomerang moves to positive labor market features is substantive in magnitude and is highest for those without a college degree and for non-whites. We document two distinct ways in which boomerang moves dampen labor market adjustments. Among young adults living in the same labor market as their parent, simulated negative labor market shocks in the form of increases in unemployment accompanied by decreases in wages result in a greater increase in boomeranging than leaving the labor market, hence a residential rather than labor market adjustment. Among young adults living in a different labor market than their parents, boomerang moves are more likely to result in worse destination labor markets than are non-boomerang moves, though a large share of both types of moves is to weaker labor markets
Chan, Sewin; O'Regan, Katherine M.; You, Wei;2020
Availability: Link Link
9. Migration Choices of the Boomerang Generation : Does Returning Home Dampen Labor Market Adjustment?
abstractThis paper documents a linkage between two empirical trends: the low levels of out-migration from weak labor markets, and the increasing rate at which young adults return to live with their parents (‘boomerang'). Using the American Community Survey, we show that boomerang moves are more likely to bring young adults to labor markets with higher unemployment and lower wages. Using the geocoded Panel Study of Income Dynamics and a locational choice model, we find that the likelihood of a non-boomerang location being chosen by a young adult increases with local wages. However, for boomerang moves, wages have zero or a much smaller effect on the selection of locations, and the likelihood that a boomerang location is selected actually increases with the location's unemployment level. This positive correlation with unemployment is substantive in magnitude and is highest for those without a college degree and for non-whites
Chan, Sewin; O'Regan, Katherine M.; You, Wei;2020
Availability: Link Link
10. How mortgage finance affects the urban landscape
abstractThis chapter considers the structure of mortgage finance in the U.S., and its role in shaping patterns of homeownership, the nature of the housing stock, and the organization of residential activity. We start by providing some background on the design features of mortgage contracts that distinguish them from other loans, and that have important implications for issues presented in the rest of the chapter. We then explain how mortgage finance interacts with public policy, particularly tax policy, to influence a household's decision to own or rent, and how shifts in the demand for owner-occupied housing are translated into housing prices and quantities, given the unusual nature of housing supply. We consider the distribution of mortgage credit in terms of access and price, by race, ethnicity, income, and over the lifecycle, with particular attention to the role of recent innovations such as non-prime mortgage securitization and reverse mortgages. The extent of negative equity has been unprecedented in the past decade, and we discuss its impact on strategic default, housing turnover, and housing investment. We describe spatial patterns in foreclosure and summarize the evidence for foreclosure spillovers in urban neighborhoods. Finally, we offer some thoughts on future innovations in mortgage finance.
Chan, Sewin; Haughwout, Andrew; Tracy, Joseph S.;2015
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link Link
