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Title: The Rise of Retirement Among African Americans: Evidence From Union Army Records

Citation Type: Working Paper

Publication Year: 2008

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Abstract: I document trends in black and white retirement rates and in living arrangements among retirees.I show that the retirement rates of both blacks and whites rose between 1900 and 1930 but thatconvergence in black and white rates and in living arrangements only occurred between 1930 and1950. I examine whether rising income explains the rise in black retirement rates prior to 1930and whether rising income and the institution of Social Security in 1935 led to convergence bylooking at the impact of the first pension program available to both blacks and whites, that servingUnion Army veterans. I find that blacks were 2 to 5 times as responsive as whites to incometransfers in their retirement decisions and 6 to 8 times as responsive in their choice of independentliving arrangements. The results suggest that income effects from the institution of Social Securityexplain up to half of the convergence in black-white retirement rates and in living arrangements.

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Authors: Costa, Dora L.

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Institution: University of California, Los Angeles

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Publisher Location: Los Angeles, CA

Data Collections: IPUMS USA, IPUMS CPS

Topics: Aging and Retirement, Race and Ethnicity

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