2004 – Publication Years

The Impact of Health Status and Out-of-Pocket Medical Expenditures on Annuity Valuation

June 14, 2018
Health, Retirement

This paper describes how differences in health status at retirement can influence the decision to purchase a life annuity. We extend previous research on annuitization decisions by incorporating the effect of health differentials via differences in survival throughout the latter…

Back to Work: Expectations and Realizations of Work After Retirement

June 14, 2018
Labor Supply, Older workers, Retirement, Unretirement

This paper analyzes labor force re-entry after retirement in an effort to understand whether these “unretirement” transitions are largely unexpected (perhaps resulting from failures in planning or unexpected financial shocks) or planned (perhaps representing a more complex retirement process). Nearly…

Using a Structural Retirement Model to Simulate Effects of Changes to the OASDI and Medicare Programs

June 14, 2018
Uncategorized

Saving Shortfalls and Continued Work: Some Initial Results

June 14, 2018
Uncategorized

On the Potential for Pareto Improving Social Security Reform with Second-Best Taxes

June 14, 2018
Uncategorized

Life-Cycle Saving in Dual Earner Households

June 14, 2018
Uncategorized

Obesity, Disability, and Movement Onto the DI Rolls

June 14, 2018
Uncategorized

Precautionary Saving Over the Lifecycle

June 14, 2018
Behavioral economics, Life-cycle model, Retirement

This paper studies the quantitative importance of precautionary wealth accumulation relative to life-cycle saving for retirement. Section 1 examines panel data on earnings from the PSID. Using a bivariate normal model of random effects, we find that second— period—of—life earnings…

Decaying Asymmetric Information and Adverse Selection in Annuities

June 14, 2018
International, retirement savings

This paper develops an equilibrium model of the annuities market where agents have private information about their mortality, and where the predictive value of this information decays over time. The paper shows that in this case, insurance companies will observe…

Global Aging: Issues, Answers, and More Questions

June 14, 2018
International, Labor Supply, Social Security

Global aging will be a major determinant of long run economic development in industrial and developing countries. The extent of the demographic changes is dramatic and will deeply affect future labor, financial and goods markets. The expected strain on public…