UM13-11: The Assets and Liabilities of Cohorts: The Antecedents of Retirement Security
This interdisciplinary proposal uses repeated cross-sectional data from the Survey of Consumer Finances to characterize cohort patterns of net worth and debt. Cohort patterns are useful to study for several reasons. First, they provide a useful benchmark for identifying potentially…
UM13-12: How Family Status Influences Work and Retirement, Saving and Dissaving, Insurance Demand and Portfolio Choice over the Life Cycle
This project will analyze how changing family status over the life cycle influences consumption, portfolio choice, life insurance demand, and labor supply. Prior models have not focused in much detail on the way in which changes in marital status and…
UM13-13: Health, Health Care Utilization and Age at Initial Social Security Benefit Claiming
This project uses new data and methods to compare the health status of Social Security beneficiaries. We profile the health of Social Security beneficiaries who claim benefits at different ages (at 62, between 62 and Normal Retirement Age, at NRA)…
UM13-14: Does Retirement Influence Subjective Well-Being? A Cross-Country Comparison
How does retirement influence subjective well-being? Some studies suggest retirement does not affect subjective well-being or may improve it. Others suggest that it adversely affects well-being. We will study the effect of retirement on subjective well-being by (1) using longitudinal…
UM13-15: Measuring Re-Immigration Flows from Mexico
The present study uses survey data collected in Mexico to examine the previous migration experience and legal status of Mexicans migrating to the US. An understanding of re-immigration rates and the prior US work history of arriving immigrants has the…
UM13-Q1: Uncovering the Relationship Between Real Interest Rates and Economic Growth
The connection between LR real interest rates and LR economic growth is an important question that is the subject of further investigation here. The purpose of this project is twofold: first, survey the relevant empirical literature and the theoretical links…
UM13-Q2: Technical Review Panel for the PIMS Model
We propose to mount a Technical Review Panel to provide an academic assessment of the data, assumptions, and methods driving the Pension Insurance Modeling System (PIMS). The goal of the proposed Technical Review Panel will be to engage top-notch academics…
UM13-Q3: Optimal Retirement Plan Design: Variable Annuities with Lifetime Income Guarantees and Investment Downside Protection
When financially inexperienced consumers must manage their self-directed retirement accounts, they may fail to understand investment and longevity risk. This problem can be rectified if defined contribution plans include variable deferred annuities with lifetime income guarantees and investment downside protection.…
UM13-Q4: Cognitive Ability, Expectations, and Beliefs about the Future: Psychological influences on retirement decisions
Recent advances in behavioral decision research, behavioral economics, and life-span development psychology provide leverage for expanding our understanding of early versus later retirement. The proposed project would examine how retirement decisions are affected by individual differences and life-span changes in…
UM13-Q5: Working at Older Ages: the Roles of Work Environment and Psychological Factors.
While financial preparedness for retirement and health shocks are often cited as main predictors of the choice to exit the labor force, other work-related factors may underlie retirement decisions. Changing and unfavorable work conditions may adversely impact one’s motivation and…