Housing wealth shocks, home equity withdrawal, and the claiming of Social Security retirement benefits.
This paper examines the impact of changes in house prices on when eligible individuals start receiving Social Security benefits. If house prices appreciate, financially constrained households may draw upon the additional home equity and delay receipt of Social Security. To address concerns that hous...
| Publicado en: | Economic Inquiry Vol. 60; no. 2; pp. 620 - 645 |
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| Autores principales: | , , |
| Formato: | Artículo |
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Wiley-Blackwell
Apr2022
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=155474564&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 155474564 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: Y pubinfo: dt: Apr2022 vid: 60 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 155474564 10.1111/ecin.13058 ppf: 620 ppct: 25 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 1MB tig: atl: Housing wealth shocks, home equity withdrawal, and the claiming of Social Security retirement benefits. aug: au: Huang, Naqun Li, Jing Ross, Amanda affil: Institute of Urban Development, Nanjing Audit University, Nanjing Jiangsu,, China School of Economics, Singapore Management University, Singapore, Singapore Department of Economics, Finance, and Legal Studies, The University of Alabama, Tuscaloosa Alabama,, USA su: Retirement benefits Housing Equity (Real property) Social Security (United States) Home prices sug: subj: Retirement benefits Housing Other Community Housing Services Equity (Real property) Social Security (United States) Home prices keyword: home equity housing wealth shock land supply elasticity Social Security home equity housing wealth shock land supply elasticity Social Security ab: This paper examines the impact of changes in house prices on when eligible individuals start receiving Social Security benefits. If house prices appreciate, financially constrained households may draw upon the additional home equity and delay receipt of Social Security. To address concerns that house price changes are correlated with unobserved local demand shocks, we use a control function approach and two different instrumental variables. We find that individuals delay Social Security claiming when house prices increase during the housing boom period. We also find that the total home loan amount increases, indicating households are drawing upon their home equity. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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