The Medicare trust funds face huge prospective deficits by the end of this decade.This paper discusses trends in six areas that bear on the Medicare problem: the number of the elderly, their health status, use of medical care, labor force participation, income, and living arrangements. Among the...

During the past decade, much has been said about the role that on-the-job training plays in augmenting one's stock of human capital. Up to this point, little has been done to distinguish the effect of on-the-job training from that of aging on the increase in human wealth. The reason rests...

I draw systematic comparisons across 109 data files and 132 countries of the relationship between well-being, variously defined, and age. I produce 444 significant country estimates with controls, so these are ceteris paribus effects, and find evidence of a well-being U-shape in age in one...

I examine the relationship between unhappiness and age using data from six well-being data files on nearly ten million respondents across forty European countries and the United States. I use fifteen different individual characterizations of unhappiness including despair; anxiety; loneliness;...

Although income and wealth are frequently used as indicators of well-being, they are increasingly augmented with subjective measures such as life satisfaction to capture broader dimensions of individuals' well-being. Based on data from large surveys of individuals, life satisfaction in...

The past decade has brought increasing concern, in countries all over the world, of declines in mental health and well-being. Across countries, chronic depression and suicide rates peak in midlife. In the U.S., deaths of despair are most likely to occur in these years, and the patterns are...

During 2006, the Gallup Organization conducted a World Poll that used an identical questionnaire for national samples of adults from 132 countries. I analyze the data on life satisfaction (happiness) and on health satisfaction and look at their relationships with national income, age, and...

Population aging is primarily the result of past declines in fertility, which produced a decades long period in which the ratio of dependents to working age adults was reduced. Rising old-age dependency in many countries represents the inevitable passing of this "demographic dividend." Societies...

One way to demonstrate how remarkable changes in the process of aging have been is to compare health over the life cycles of 3 cohorts. For the first cohort, born between 1835 and 1845 (the Civil War cohort), life was short and disabilities were common even at young ages. Other factors...

Data from the Bureau of the Census, the Health Care Financing Administration, the NBER Tax File and the Current Population Survey are used to estimate for the elderly (ages 65 and above) consumption of health care and income available for other goods and services in 1975, 1985, and 1995....