Tag: cost-of-living
![Hand holding magnifying glass and looking at house model, house](https://crr.bc.edu/wp-content/uploads/2022/11/Housing-market-1536x1024.jpeg)
Abstract This paper uses the Health and Retirement Study to explore how local cost-of-living affects Social Security replacement rates and household behavior. In theory, labor markets with high cost-of-living also offer more compensation. If this compensating differential is paid in wages, rather than benefits, it reduces the share of earnings replaced by Social Security due to t…
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Highly likely that benefits will increase by more than 9 percent. The time has come to speculate about Social Security’s cost-of-living adjustment (COLA) for 2023. Automatic indexing of benefits to keep up with rising prices is a wonderful feature of our Social Security program. Since the COLA first affects benefits paid after Jan. 1, Socia…