2006 – Publication Years

Origins of the RRC

June 14, 2018
Uncategorized

Q & A with Michael Hurd and Susann Rohwedder, July 2006

June 14, 2018
Uncategorized

Life-cycle Asset Allocation with Annuity Markets: Is Longevity Insurance a Good Deal?

June 14, 2018
Uncategorized

We derive the optimal portfolio choice over the life-cycle for households facinglabor income, capital market, and mortality risk. In addition to stocks and bonds,households also have access to incomplete annuity markets offering a hedge against mortality risk. We show that…

Q & A with Estelle James, January 2006

June 14, 2018
Uncategorized

Q & A with John P. Laitner, October 2006

June 14, 2018
Uncategorized

Crowd-out, Adverse Selection and Information in Annuity Markets: Evidence from a New Retrospective Data Set in Chile

June 14, 2018
International, pensions, Retirement

Annuitization is often considered a socially desirable payout mode from pension plans, because it provides a lifelong income stream and therefore ensures that retirees will not run out of money. However, annuitization is rare in most countries. This project examines…

The Importance of Objective Health Measures in Predicting Early Receipt of Social Security Benefits: The Case of Fatness

June 14, 2018
Health, Retirement, Social Security

Theoretical models argue that poor health will contribute to early exit from the labor market and the decision to take early Social Security retirement benefits (Old-Age or OA benefits). However, most empirical estimates of the causal importance of health on…

Life-Cycle Asset Allocation with Annuity Markets: Is Longevity Insurance a Good Deal?

June 14, 2018
Life-cycle model

We derive the optimal portfolio choice over the life-cycle for households facing labor income, capital market, and mortality risk. In addition to stocks and bonds, households also have access to incomplete annuity markets offering a hedge against mortality risk. We…

Financial Literacy and Retirement Preparedness: Evidence and Implications for Financial Education Programs

June 14, 2018
Financial well-being, International, Retirement, retirement savings

Economists are beginning to investigate the causes and consequences of financial illiteracy to better understand why retirement planning is lacking and why so many households arrive close to retirement with little or no wealth. Our review reveals that many households…

How the Distribution of After-Tax Income Changed Over the 1990s Business Cycle: A Comparison of the United States, Great Britain, Germany and Japan

June 14, 2018
International

We find that, over their 1990s business cycles, the entire distribution of after-tax household size-adjusted income moved to the right in the United States and Great Britain while inequality declined. In contrast, Germany and Japan had less income growth, a…