Working Papers

From University of Michigan, Michigan Retirement Research Center
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2007: Housing Wealth and Retirement Timing

Martin Farnham and Purvi Sevak

2007: This study seeks to quantify determinants, and costs, of the labor­force participation of married women. We use demographic and earnings data from the Health and Retirement Study. The earnings data constitute an unusually long panel but have the defect of lacking corresponding reports on work hours. By using a highly structured model and concentrating on the participation margin, we nevertheless feel that we can make substantial progress. Our preliminary regression results imply that married women’s market work disrupts their household consumption slightly less than one half as much as men’s work (relative to complete household retirement). We lay out a course of additional steps that can, we believe, clarify these results even more precisely in the near future

Christopher House, John Laitner and Dmitriy Stolyarov

2007: The Effects of Health Insurance and Self-Insurance on Retirement Behavior

Eric French and John BaileyJones

2007: How do Immigrants Fare in Retirement?

Purvi Sevak and Lucie Schmidt

2007: Estimating the Health Effects of Retirements

John Bound and Timothy Waidmann

2007: Managing the Risk of Life

Adeline Delavande and Robert Willis

2007: Burnout and the Retirement Decision

Nicole Maestas and Xiaoyan Li

2007: Life-Cycle Models: Lifetime Earnings and the Timing of Retirement

John Laitner and Dan Silverman

2007: Future Beneficiary Expectations of the Returns to Delayed Social Security Benefit Claiming and Choice Behavior

Jeff Dominitz, Angela Hung and Arthur vanSoest

2007: Take-Up of Medicare Part D and the SSA Subsidy: Early Results from the Health and Retirement Study

Helen Levy and David Weir

2007: Financial Literacy and Stock Market Participation

Maarten vanRooij, Annamaria Lusardi and Rob Alessie

2007: The Impact of Private Participation on Disability Costs: Evidence from Chile

Estelle James, Alejandra CoxEdwards and Augusto Iglesias

2007: This research examines the determinants of eligibility and participation in 401(k) plans using two cross-sections of data from the Health and Retirement Study. Our sample consists of workers ages 51-56 representing two cohorts: the original HRS cohort born 1931-41, first interviewed in 1992, and the Early Baby Boomer (EBB) cohort born 1948-53, interviewed in 2004. Participation in 401(k) pensions in the EBB cohort is nearly 50 percent greater than that of the earlier cohort. This substantial growth in 401(k) plan participation over a relatively brief period may reflect intrinsic differences in tastes between the two cohorts, changes over this period in the external environment regarding retirement saving, or the joint effects of both influences

Irena Dushi and Marjorie Honig

2007: Subjective Survival Probabilities in the Health and Retirement Study: Systematic Biases and Predictive Validity

Todd Elder

2007: Children and Household Wealth

John Scholz and Ananth Seshadri

2007: Financial Literacy and Retirement Planning: New Evidence from the Rand American Life Panel

Annamaria Lusardi and Olivia Mitchell

2007: A Longitudinal Analysis of Entries and Exits of the Low-Income Elderly to and from the Supplemental Security Income Program

Todd Elder and Elizabeth Powers

2007: The Effect of Retirement Incentives on Retirement Behavior: Evidence from the Self-Employed in the United States and England

Julie Zissimopoulos, Nicole Maestas and Lynn Karoly

2007: Winners and Losers: 401(k) Trading and Portfolio Performance

Takeshi Yamaguchi, Olivia Mitchell, Gary Mottola and Steven Utkus

2007: Projecting Behavioral Responses to the Next Generation of Retirement Policies

Alan Gustman and Thomas Steinmeier

2007: Money in Motion: Dynamic Portfolio Choice in Retirement

Wolfram Horneff, Raimond Maurer, Olivia Mitchell and Michael Stamos

2007: Enhancing the Quality of Data on the Measurement of Income and Wealth

F. Juster, Honggao Cao, Mick Couper, Daniel Hill, Michael Hurd, Joseph Lupton, Michael Perry and James Smith

2007: The Responsiveness of Private Savings to Medicaid Long Term Care Policies

Purvi Sevak and Lina Walker

2007: Labor Market Status and Transitions During the Pre-Retirement Years: Learning from International Differences

Arie Kapteyn, James Smith, Arthur van Soest and James Banks

2006: The Importance of Objective Health Measures in Predicting Early Receipt of Social Security Benefits: The Case of Fatness

Richard Burkhauser and John Cawley

2006: Crowd-out, Adverse Selection and Information in Annuity Markets: Evidence from a New Retrospective Data Set in Chile

Alejandra Cox-Edwards and Estelle James

2006: Life-Cycle Asset Allocation with Annuity Markets: Is Longevity Insurance a Good Deal?

Wolfram Horneff, Raimond Maurer and Michael Stamos

2006: How the Distribution of After-Tax Income Changed Over the 1990s Business Cycle: A Comparison of the United States, Great Britain, Germany and Japan

Richard Burkhauser, Takashi Oshio and Ludmila Rovba

2006: Financial Literacy and Retirement Preparedness: Evidence and Implications for Financial Education Programs

Annamaria Lusardi and Olivia Mitchell

2006: Home Production by Dual Earner Couples and Consumption During Retirement

Christopher House, John Laitner and Dmitriy Stolyarov

2006: Consumption, Retirement, and Social Security: Evaluating the Efficiency of Reform with a Life-Cycle Model

John Laitner and Dan Silverman

2006: Self-Assessed Retirement Outcomes: Determinants and Pathways

Susann Rohwedder

2006: Social Security Privatization with Income-Mortality Correlation

Shinichi Nishiyama and Kent Smetters

2006: Taxes, Wages, and the Labor Supply of Older Americans

Lucie Schmidt and Purvi Sevak

2006: Retirement Savings Portfolio Management

Jeff Dominitz and Angela Hung

2006: The Impact of Health Insurance Availability on Retirement Decision Reversals

Joshua Congdon-Hohman

2006: Planning and Financial Literacy: How Do Women Fare?

Annamaria Lusardi

2006: How Did the Elimination of the Earnings Test Above the Normal Retirement Age Affect Retirement Expectations?

Pierre-Carl Michaud and Arthur vanSoest

2006: A Dynamic Model of Retirement and Social Security Reform Expectations: A Solution to the New Early Retirement Puzzle

Hugo Benitez-Silva, Debra Dwyer and Warren Sanderson

2006: Discouraged Workers? Job Search Outcomes of Older Workers

Nicole Maestas and Xiaoyan Li

2006: Alternative Measures of Replacement Rates

Michael Hurd and Susann Rohwedder

2006: Men With Health Insurance and the Women Who Love Them: the Effect of a Husband's Retirement on His Wife's Health Insurance Coverage

Jody Schimmel

2006: Financial Risk, Retirement, Saving and Investment

Alan Gustman and Thomas Steinmeier

2006: Probabilistic Thinking and Early Social Security Claiming

Adeline Delavande, Michael Perry and Robert Willis

2006: How Accurate are Expected Retirement Savings?

Steven Haider and Mel StephensJr.

2006: How Changes in Social Security Affect Retirement Trends

Alan Gustman and Thomas Steinmeier

2006: Americans' Dependency on Social Security

Laurence Kotlikoff, Benjamin Marx and Pietro Rizza

2006: Understanding Trading Behavior in 401(k) Plans

Takeshi Yamaguchi

2006: Optimizing the Retirement Portfolio: Asset Allocation, Annuitization, and Risk Aversion

Wolfram Horneff, Raimond Maurer, Olivia Mitchell and Ivica Dus

2006: The Excess Burden of Government Indecision

Francisco Gomes, Laurence Kotlikoff and Luis Viceira

2006: Savings Between Cohorts: The Role of Planning

Annamaria Lusardi and Jason Beeler

2006: Social Security and Retirement Dynamics

Alan Gustman and Thomas L. Steinmeier

2006: The Role of Conventional Retirement Age in Retirement Decisions

Charles Brown

2006: Savings, Portfolio Choice, and Retirement Expectations

Arthur van Soest and Arie Kaptey

2006: The Impact of Misperceptions about Social Security on Saving and Well-being

Susann Rohwedder and Arthur van Soest

2006: Public Health Insurance and SSI Program Participation Among the Aged

Todd Elder and Elizabeth Powers

2006: Social Security Replacement Rates for Alternative Earnings Benchmarks

Olivia Mitchell and John W.R. Phillips

2006: The Inattentive Participant: Portfolio Trading Behavior in 401(k) Plans

Olivia Mitchell, Gary R. Mottola, Stephen P. Utkus and Takeshi Yamaguchi

2006: Baby Boomer Retirement Security: The Roles of Planning, Financial Literacy, and Housing Wealth

Annamaria Lusardi and Olivia Mitchell

2006: How to Integrate Disability Benefits into a System with Individual Accounts: The Chilean Model

Estelle James and Augusto Iglesias Palau

2006: The Effect of Unfolding Brackets on the Quality of Wealth Data in the HRS

F. Juster, Honggao Cao, Michael Perry and Mick Cooper

2006: On the Covariance Structure of Changes in Consumption in the Health and Retirement Study

Michael Perry

2006: Consumption and Economic Well-Being at Older Ages: Income- and Consumption-Based Poverty Measures in the HRS

Michael Hurd and Susann Rohwedder