Financial life after the death of a spouse

Lisa Camner McKay, Itzik Fadlon, Shanthi Ramnath and Patricia K. Tong ()

Chicago Fed Letter, 2020, issue 438, 5

Abstract: The death of a spouse results in a considerable decline in average income for the surviving spouse. The Social Security survivors benefits program compensates the surviving spouse, most often a woman, for almost all of the lost income, allowing them to work less, but many widows who are not yet eligible for the program struggle to meet their financial needs.

Keywords: household behavior; family economics; allocative efficiency; cost-benefit analysis; health; demand and supply of labor (search for similar items in EconPapers)
JEL-codes: D10 D61 I10 J20 (search for similar items in EconPapers)
Date: 2020
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Journal Article: Financial Life After the Death of a Spouse (2020)
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