2005
Enhancing the Quality of Data on Income and Wealth
WP 2005-101 , UM04-10
Over the last decade or so, a substantial effort has gone into the design of a series of methodological investigations aimed at enhancing the quality of survey data on income and wealth. These investigations have largely been conducted at the…
Download: Working Paper
View: Abstract
View: Abstract
Will China Eat Our Lunch or Take Us to Dinner? Simulating the Transition Paths of the U.S., E.U., Japan, and China
WP 2005-102 , UM05-03
This paper develops a dynamic, life-cycle, general equilibrium model to study the interdependent demographic, fiscal, and economic transition paths of China, Japan, the U.S., and the EU. Each of these countries/regions is entering a period of rapid and significant aging…
Download: Working Paper
View: Abstract
View: Abstract
Why Not Retire? The Time and Timing Costs of Market Work
WP 2005-104 , UM05-18
Retirement ages among older Americans have only recently begun to increase after their precipitous fifty-year decline. Early retirement may result from incentives provided by retirement systems; but it may also result from the rigidities imposed by market work schedules. Using…
Download: Working Paper
View: Abstract
View: Abstract
Estimating Life Cycle Effects of Subjective Survival Probabilites in the Health and Retirement Study
WP 2005-103 , UM05-S1
This paper attempts to confirm the life-cycle relationship that lower subjective survival probabilities should lead to less positively sloped consumption trajectories. I use the results of six waves of subjective survival probability questions in the HRS to construct an index…
Download: Working Paper
View: Abstract
View: Abstract
Retirement, Saving, Benefit Claiming and Solvency Under A Partial System of Voluntary Personal Accounts
WP 2005-105 , UM05-02
This paper is based on a structural model of retirement and saving, estimated with data for a sample of married men in the Health and Retirement Study. The model simulates how various features of a system of personal Social Security…
Download: Working Paper
View: Abstract
View: Abstract
Why Not Retire? The Time and Timing Costs of Market Work
RB 2005-083 , UM05-18
Retirement ages among older Americans have only recently begun to increase after their precipitous fifty-year decline. Early retirement may result from incentives provided by retirement systems; but it may also result from the rigidities imposed by market work schedules. Using…
Download: Research Brief
View: Abstract
View: Abstract
Will China Eat Our Lunch or Take Us to Dinner?—Simulating the Transition Paths of the U.S., E.U., Japan, and China
RB 2005-082 , UM05-03
This paper develops a dynamic, life-cycle, general equilibrium model to study the interdependent demographic, fiscal, and economic transition paths of China, Japan, the U.S., and the EU. Each of these countries/regions is entering a period of rapid and significant aging…
Download: Research Brief
View: Abstract
View: Abstract
Valuing Lost Home Production for Dual-Earner Couples
RB 2005-081 , UM04-14
Economists’ principal tool for studying household behavioral responses to changes in tax and other government policies, and the magnitude and determinants of private saving, is the life—cycle model. The purpose of this paper is to attempt to incorporate into that…
Download: Research Brief
View: Abstract
View: Abstract
Changes in Consumption and Activities in Retirement
RB 2005-080 , UM04-13
The simple one-good model of life-cycle consumption requires “consumption smoothing.” According to previous results based on partial spending and on synthetic panels, British and U.S. households apparently reduce consumption at retirement. The reduction cannot be explained by the simple one-good…
Download: Research Brief
View: Abstract
View: Abstract
The Impact of Health Status and Out-of-Pocket Medical Expenditures on Annuity Valuation
RB 2005-079 , UM04-03
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…
Download: Research Brief
View: Abstract
View: Abstract