2001 – Publication Years

Imperfect Knowledge, Retirement and Saving

June 14, 2018
Health and Retirement Study, Retirement

Using data from the Health and Retirement Study, this paper measures knowledge about future social security and pension benefits by comparing respondent reports of their expected benefits with benefits calculated from social security earnings records and employer provided descriptions of…

Modeling the Macroeconomic Implications of Social Security Reform

June 14, 2018
Social Security reform

Wealth, Inequality, and Altruistic Bequests

June 14, 2018
Uncategorized

This paper examines the role of bequests and inter vivos gifts in the U.S. economy, considering their importance in determining (i) the economy’s aggregate capital stock, (ii) the distribution of private net worth, and (iii) public policy outcomes and options.…

Wealth Accumulation in the U.S.: Do Inheritances and Bequests Play a Significant Role?

June 14, 2018
Life-cycle model

This paper formulates an overlapping generations model with both life–cycle saving and altruistic bequests. For a given distribution of earning abilities, the model generates a stationary steady–state capital–to–labor ratio for the economy as a whole and a stationary distribution of…

Secular Changes in Wealth Inequality and Inheritance

June 14, 2018
International, Life-cycle model, Social Security

Data suggest the distribution of wealth among households in the United States and the United Kingdom has become more equal over the last century — though the pattern may have reversed recently. This paper shows that a model in which…

Social Security, Pensions and Retirement Behavior Within the Family

June 14, 2018
Behavioral economics, Family dynamics, Health and Retirement Study, pensions, Retirement, Social Security

This paper further extends our efforts to understand how household decisionmaking works and the relation of decisions made within the household to incentives from Social Security and pensions. A structural model of family retirement decision making is estimated using U.S.…

Stochastic Rates of Return for Social Security Under Various Policy Scenarios

June 14, 2018
Retirement, Social Security

In this paper, we compute distributions of rates of return by cohort for the Social Security retirement system, using a combination of historical data and stochastic forecasts of productivity and mortality rates. Since our forecasts of productivity and mortality are…

Cognition and Wealth: The Importance of Probabilistic Thinking

June 14, 2018
Cognition, Health and Retirement Study, Social Security

This paper utilizes a large set of subjective probability questions from the Health and Retirement Survey to construct an index measuring the precision of probabilistic beliefs (PPB) and relates this index to household choices about the riskiness of their portfolios…

» PublicationsPage 2

Imperfect Knowledge, Retirement and Saving

Modeling the Macroeconomic Implications of Social Security Reform

Wealth, Inequality, and Altruistic Bequests

Wealth Accumulation in the U.S.: Do Inheritances and Bequests Play a Significant Role?

Secular Changes in Wealth Inequality and Inheritance

Social Security, Pensions and Retirement Behavior Within the Family

Stochastic Rates of Return for Social Security Under Various Policy Scenarios

Cognition and Wealth: The Importance of Probabilistic Thinking

Stochastic Rates of Return for Social Security under Various Policy Scenarios

Cognition and Wealth: The Importance of Probabilistic Thinking