Does Social Security serve as an economic stabilizer?

Quinby, Laura D., Robert L. Siliciano, and Gal Wettstein. “Does Social Security serve as an economic stabilizer?”. CRR WP 2021-9, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, July 2021. http://hdl.handle.net/2345/bc-ir:109262.
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Abstract

In times of economic distress, both individuals and localities can benefit from stable sources of income. While a large literature documents the benefits that individuals enjoy from guaranteed income such as Social Security, less attention has been given to the stabilizing force of Social Security at the community level. Intuitively, if many people are insulated from recessions through stable Social Security income, they will continue to demand local goods and services, propping up local employment and earnings. This paper uses the American Community Survey to estimate the extent to which Social Security benefits stabilize local economies, by examining how the relationship between a county's economic outcomes and those of its surrounding counties vary with the share of county income from Social Security.

Title
Does Social Security serve as an economic stabilizer?
Author
Quinby, Laura D.
Siliciano, Robert L.
Wettstein, Gal
Center
Center for Retirement Research
Genre
working paper
Date Issued
July 2021
Publisher
Center for Retirement Research at Boston College
Series Title
CRR WP
Series Number
2021-9
Persistent Link
http://hdl.handle.net/2345/bc-ir:109262
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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