2009 – Publication Years

Level and Risk of Out-of-Pocket Health Care Spending

June 14, 2018
Health, Health and Retirement Study

Proximity and Coresidence of Adult Children and their Parents: Description and Correlates

June 14, 2018
Family dynamics, Health

The ability of family members to engage in intergenerational transfers of hands-on care requires close proximity or coresidence. In this paper we describe and analyze the patterns of proximity and coresidence involving adult children and their mothers using data from…

Mortality Contingent Claims: Impact of Capital Market, Income, and Interest Rate Risk

June 14, 2018
Health, Mortality trends

In this paper, we consider optimal insurance, portfolio allocation, and consumption rules for a stochastic wage earner with CRRA preferences whose lifetime is random. In a continuous time framework, the investor has to decide among short and long positions in…

Financial Literacy and Financial Sophistication in the Older Population: Evidence from the 2008 HRS

June 14, 2018
Financial well-being, Health and Retirement Study, Retirement, retirement savings

This paper analyzes new data on financial literacy and financial sophistication from the 2008 Health and Retirement Study. We show that financial literacy is lacking among older individuals and for the first time explore additional questions on financial sophistication which…

Marking Social Security’s Open Group Liability to Market

June 14, 2018
benefit claiming, Social Security

How Do Pension Changes Affect Retirement Preparedness? The Trend to Defined Contribution Plans and the Vulnerability of the Retirement Age Population to the Stock Market Decline of 2008-2009

June 14, 2018
Uncategorized

This document has two parts. The first part presents background information on trends in pensions drawn from our forthcoming book, Pensions in the Health and Retirement Study. Using data from the Health and Retirement Study (HRS), trends in pensions are…

Marking Social Security’s Open Group Liability to Market

June 14, 2018
benefit claiming, Social Security

This paper marks Social Security’s open group liability to market taking into account the riskiness of its aggregate benefit payments and tax receipts. The open group liability references the present value of the system’s net cash flow from now through…

The Level and Risk of Out-of-Pocket Health Care Spending

June 14, 2018
Health, Health and Retirement Study

The Health and Retirement Study (HRS) is a long-running panel survey with good measures of economic status, so it is the pre-eminent data set for studies about the economic status of the older population and economic preparation for retirement. However,…

What Replacement Rates Should Households Use?

June 14, 2018
Financial well-being, Life-cycle model, Retirement, retirement savings

Common financial planning advice calls for households to ensure that retirement income exceeds 70 percent of average pre-retirement income. We use an augmented life-cycle model of household behavior to examine optimal replacement rates for a representative set of retired American…

Buffering Shocks to Well-Being Late in Life

June 14, 2018
Financial well-being, Health, Health and Retirement Study

Consumption provides a comprehensive measurement of economic well-being. This research shows that consumption is well-insured with respect to health status and widowing. Using data from the Health and Retirement Study (HRS) and its CAMS supplement, it shows that consumption responds…