Does household debt influence the labor supply and benefit claiming decisions of older Americans?

Butrica, Barbara A., and Nadia S. Karamcheva. “Does household debt influence the labor supply and benefit claiming decisions of older Americans?”. CRR WP 2013-22, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, December 2013. http://hdl.handle.net/2345/bc-ir:104776.
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Abstract

Americans' indebtedness has increased dramatically since the 1980s - a trend likely to have important implications for retirement security. This study finds that older adults with debt are 8 percentage points more likely to work and 2 percentage points less likely to receive Social Security benefits than those without debt. Not only does the presence of debt influence older adults' behavior, but so do the amount and type of debt - particularly outstanding mortgages. Increasingly, retirement security will depend on having enough income and assets to pay for basic living expenses and to service debt.

Title
Does household debt influence the labor supply and benefit claiming decisions of older Americans?
Author
Butrica, Barbara A.
Karamcheva, Nadia S.
Center
Center for Retirement Research
Genre
working paper
Date Issued
December 2013
Publisher
Center for Retirement Research at Boston College
Series Title
CRR WP
Series Number
2013-22
Persistent Link
http://hdl.handle.net/2345/bc-ir:104776
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Social Security

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