?> 2003 – Publication Years – MRDRC

Lifetime Earnings Variability and Retirement Wealth

This paper explores how earnings variability is related to retirement wealth. Past research has demonstrated that the average American household on the verge of retirement would need to save substantially more, in order to preserve consumption flows in old age.…

Read more

What to Expect when you are Expecting Rationality: Testing Rational Expectations using Micro Data

This paper tests the Rational Expectations (RE) hypothesis regarding retirement expectations, controlling for sample selection, reporting biases, and unobserved heterogeneity. We find that retirement expectations in the Health and Retirement Study (HRS) are consistent with the RE hypothesis. We also…

Read more

The Economic Status of Elderly Divorced Women

Over the past 35 years the gap in poverty between divorced and married women increased from 2:1 (in 1967) to 4:1 (in 2001).  Despite high poverty rates, divorced women are no less educated than married women.  Labor market earnings are…

Read more

Microsimulations in the Presence of Heterogeneity

This paper develops a method that improves researchers’ ability to account for behavioral responses to policy change in microsimulation models. Current microsimulation models are relatively simple, in part because of the technical difficulty of accounting for unobserved heterogeneity. This is…

Read more

Labor Supply Responses to Social Security

Economists’ most basic model for studying Social Security policy issues is the so—called life—cycle model of saving behavior. This paper sets up a life—cycle model in which a household simultaneously chooses its lifetime consumption profile and retirement age. The paper…

Read more
1 2 3 4 5