Now showing items 171-180 of 187
The Interaction between Consumption and Health in Retirement
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2016-09)
We study the interaction between consumption and health in retirement. Our main contribution is the estimation of a consumption Euler equation taking health into consideration. The Euler equation is derived from a model ...
The Effects of the Financial Crisis on the Well-Being of Older Americans: Evidence from the Cognitive Economics Study
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2010-09)
This paper uses the Cognitive Economics Study (CogEcon) to assess the effect of the financial crisis on the well-being of older Americans. Financial wealth fell by about 15 percent for the median household. These financial ...
Vocational Rehabilitation on the Road to Social Security Disability: Longitudinal Statistics from Matched Administrative Data
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2012-09)
Vocational rehabilitation (VR) agencies can potentially help disability-insured workers stay at work or return to work when they experience the onset of a disabling physical or mental condition. Such assistance could prevent ...
Mortgage Contract Decisions and Mortgage Distress: Family and Financial Life-Cycle Factors
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2010-09)
The U.S. economy experienced a dramatic rise in the price of owner occupied housing during
1999-2007, and then a precipitous decline from 2007 through 2009. In this paper we utilize data from the Panel Study of Income ...
The Effects of Medicaid and Medicare Reforms on the Elderly’s Savings and Medical Expenditures
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2010-10)
We study a model in which retired single people optimally choose consumption, medical
spending and saving while facing uncertainty about their health, lifespan and medical needs. This uncertainty is partially offset by ...
How Did the Recession of 2007-2009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2011-10-18)
This paper uses asset and labor market data from the Health and Retirement Study (HRS) to investigate how the recent "Great Recession" has affected the wealth and retirement of those in the population who were just approaching ...
Addressing Social Security’s Solvency While Promoting High Labor Force Participation
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2018-10)
A number of proposals and options to address OASI trust-fund solvency have been suggested in recent years. The present work attempts to examine solvency-promoting reforms from the standpoint of economic efficiency — that ...
Parents with an Unemployed Adult Child: Labor Supply, Consumption, and Savings Effects
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2017-09)
The risk of labor market, health, and asset-value shocks comprise profound retirement savings challenges for older workers. Parents, however, may experience added risk if their children experience adverse labor market ...
Latent Work Capacity and Retirement Expectations
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2019-09)
Understanding how health decline influences retirement decisions is fundamental for the design of targeted policies that encourage working longer. While there is wide agreement on the relevance of age-related health decline ...
How Home Equity Extraction and Reverse Mortgages Affect the Credit Outcomes of Senior Households
(Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104, 2016-09)
This paper examines how the extraction of home equity, including but not limited to equity extracted through reverse mortgages, affects credit outcomes of senior households. We use data from the Federal Reserve Bank of New ...