Discoveries in the Economics of Aging

Discoveries in the Economics of Aging

David A. Wise

Print publication date: 2015

ISBN: 9780226146096

Publisher: University of Chicago Press

Abstract

The societal impact of aging baby boomers is compounded by longer life expectancies, which have risen continually over many decades. The implications of these demographic trends are extensive and significant, yet they are just one part of the rapidly changing landscape of aging in the United States and around the world. The impact of the financial crisis and its continuing ramifications have emerged as key concerns, adding to the fiscal challenges of government, and complicating people's financial planning for later life. This is the fifteenth in a series of NBER volumes synthesizing analyses of economics of aging research. The large majority of this research has been funded by the National Institute on Aging, which has made a longterm commitment to advancing the economics of aging field. A particular focus of the research reported in this volume deals with health, and its relationship to financial wellbeing. Health is perhaps the most essential aspect of what constitutes wellbeing as we age, affects one's ability to work at older ages, and is strongly associated with financial wellbeing. Additionally, health has societal implications, such as for labor markets, government finances and health care costs. Also emphasized in the volume is the potential for interventions and policy changes to improve health and wellbeing, using approaches that may be implemented throughout this system of health-related interactions.

Table of Contents

Introduction

David A. Wise and Richard Woodbury

I Health and Disability

1Evidence for Significant Compression of Morbidity in the Elderly US Population

David M. Cutler, Kaushik Ghosh, and Mary Beth Landrum

2 The Lifetime Risk of Nursing Home Use

Michael D. Hurd, Pierre-Carl Michaud, and Susann Rohwedder

II Health and Financial Well-Being

4 The Nexus of Social Security Benefits, Health, and Wealth at Death

James M. Poterba, Steven F. Venti, and David A. Wise

5 Understanding the SES Gradient in Health among the Elderly

Till Stowasser, Florian Heiss, Daniel McFadden, and Joachim Winter

III Determinants of Health

6 Early Retirement, Mental Health, and Social Networks

Axel Börsch-Supan and Morten Schuth

7 Spousal Health Effects

James Banks, Elaine Kelly, and James P. Smith

8 Grandpa and the Snapper

Angus Deaton and Arthur A. Stone

9 Expectations, Aging, and Cognitive Decline

Gábor Kézdi and Robert J. Willis

IV Interventions to Improve Health and Well-Being

11The Diffusion of NewMedical TechnologyThe Case of Drug-Eluting Stents

Amitabh Chandra, David Malenka, and Jonathan Skinner

12Who Uses the Roth 401(k), and How Do They Use It?

John Beshears, James J. Choi, David Laibson, and Brigitte C. Madrian