OLS Estimation Results for Absolute Poverty, Relative Poverty, and Mortality that Allow Early Entitlement Effect to Vary by Calendar Age Quadratically
| Dependent Variable: | |||
|---|---|---|---|
| Absolute Poverty: Fraction of Families below Federal Poverty Line (1) | Relative Poverty: Fraction of Families with Total Income below 40% of Nonelderly Median Income (2) | Mortality Rate (3) | |
| Parameter estimates | |||
| Early entitlement age | 0.2752 (0.3272) | 0.0842 (0.3414) | −0.1204 (0.0262) |
| Early entitlement age × Calendar age | −0.0062 (0.0082) | −0.0014 (0.0088) | 0.0031 (0.0007) |
| Early entitlement age × Calendar age squared | 0.00003 (0.00005) | 0.000002 (0.000055) | −0.000020 (0.000004) |
| p-value for test of the null hypothesis that EEA has no effect on outcome | 0.01 | 0.005 | 0.0001 |
| p-value for test of the null hypothesis that effect of EEA does not vary by calendar age | 0.05 | 0.007 | 0.0001 |
Notes: N = 658 in Columns 1 and 2 (ages 65–90); N = 724 in Column 3 (ages 65–98). The first three rows show the parameter estimate of ρ parameters in Equation 6. Each column represents a different regression based on a different measure of poverty or mortality. All regressions include the full set of age and year dummies, a quartic in simulated Social Security income for age-65 claiming to control for trends in benefit generosity across cohorts that were not due to early claiming, and additional controls for the percentage in age/year cell that are: veteran status, white, high school graduate, some college, college graduate, advanced degree, plus eligibility for Medicare and DI and quarters of coverage for age-72 benefits, respectively. Standard errors clustered by year of birth are shown in parentheses. The fourth row shows the p-value associated with the test of the null hypothesis that the effect of the early entitlement has no impact on the outcome. The final row shows the p-value associated with the test of the null hypothesis that the effect of the early entitlement age does not vary by calendar age.