Developments in the Economics of Aging

Developments in the Economics of Aging

David A. Wise

Print publication date: 2013

ISBN: 9780226903354

Publisher: University of Chicago Press

Abstract

The number of Americans eligible to receive Social Security benefits will increase from forty-five million to nearly eighty million in the next twenty years. Retirement systems must therefore adapt to meet the demands of the largest aging population in America's history. In this book, a group of analysts examine the economic issues that will confront policy makers as they seek to design policies to protect the economic and physical health of these older Americans. The volume looks at such topics as factors influencing work and retirement decisions at older ages, changes in life satisfaction associated with retirement, and the shift in responsibility for managing retirement assets from professional money managers of traditional pension plans to individual account holders of 401(k)s. The book also addresses the complicated relationship between health and economic status, including why health behaviors vary across populations and how socioeconomic measures correlate with health outcomes.

Table of Contents

Introduction

David A. Wise

I Retirement Saving

1 Life-cycle Asset Allocation Strategies and the Distribution of 401(k) Retirement Wealth

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

2 Reducing the Complexity Costs of 401(k) Participation through Quick Enrollment

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

II Intergenerational Transfers

3 Population Aging and Intergenerational Transfers: Introducing Age into National Accounts

Andrew Mason, Ronald Lee, An-Chi Tung, Mun-Sim Lai, and Tim Miller

III Retirement Behavior

4 The Effect of Large Capital Gains or Losses on Retirement

Michael D. Hurd, Monika Reti and Susann Rohwedder

IV Health and Economic Circumstances

7 Why Do Europeans Smoke More than Americans?

David M. Cutler and Edward L. Glaeser

8 Trends in Prescription Drug Use by the Disabled Elderly

Jay Bhattacharya,Alan M. Garber, and Thomas MaCurdy

10 The SES Health Gradient on Both Sides of The Atlantic

James Banks,, Michael Marmot,, Zoe Oldfield, and James P. Smith