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The Wealth Decumulation Behavior of the Retired Elderly in Italy : The Importance of Bequest Motives and Precautionary Saving
Ventura, Luigi; Horioka, Charles Yuji - 2022
In this paper, we analyze the wealth accumulation and saving behavior of the retired elderly in Italy using micro data … Bank of Italy. We find that, on average, the retired elderly in Italy are decumulating their wealth (dissaving) but that … retired elderly in Italy are continuing to accumulate wealth and that more than 80 percent are doing positive amounts of …
Persistent link: https://www.econbiz.de/10014239610
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Dissaving by the Elderly, Transfer Motives and Liquidity Constraints
Ando, Albert; Guiso, Luigi; Terlizzese, Daniele - 2021
Two explanations have been proposed for the observed slowness of wealth decumulation by the elderly in the literature: the precautionary saving induced by (uninsurable) uncertainty about the time of death or by the possibility of major catastrophes in old age that require large outlays; the...
Persistent link: https://www.econbiz.de/10013310140
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Labor and Transfer Income and Older Women's Work : Estimates from the United States
Jong, Philip de - 2010
This paper deals with the effects of labor and transfer incomes as determinants of older women's labor force participation. It examines the responsiveness of women aged 48-62 to the level of income available from both work and public transfer programs when deciding between work and nonwork...
Persistent link: https://www.econbiz.de/10013135047
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How Do the Elderly Form Expectations? an Analysis of Responses to New Information
Bernheim, B. Douglas - 2010
In this paper, I outline and test a simple theory that describes the evolution of expectations concerning social security benefits during the pre-retirement period. After correcting for the presences of measurement error, I obtain results that are consistent with this theory: expectations appear...
Persistent link: https://www.econbiz.de/10013135312
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The Impact of State Tax Subsidies for Private Long-Term Care Insurance on Coverage and Medicaid Expenditures
Goda, Gopi Shah - 2010
In spite of the large expected costs of needing long-term care, only 10-12 percent of the elderly population has private insurance coverage. Medicaid, which provides means-tested public assistance and pays for almost half of long-term care costs, spends more than $100 billion annually on...
Persistent link: https://www.econbiz.de/10013137609
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How Well are Social Security Recipients Protected from Inflation?
Goda, Gopi Shah - 2010
Social Security is widely believed to protect its recipients from inflation because benefits are indexed to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). However, the CPI-W may not accurately reflect the experience of retirees for two reasons. First, retirees...
Persistent link: https://www.econbiz.de/10013139899
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Medicaid and the Elderly
De Nardi, Mariacristina - 2012
We describe the Medicaid eligibility rules for the elderly. Medicaid is administered jointly by the Federal and state governments, and each state has significant flexibility on the details of the implementation. We document the features common to all states, but we also highlight the most...
Persistent link: https://www.econbiz.de/10013113156
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How Did the Recession of 2007-2009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?
Gustman, Alan L. - 2011
This paper uses asset and labor market data from the Health and Retirement Study (HRS) to investigate how the recent "Great Recession" has affected the wealth and retirement of those in the population who were just approaching retirement age at the beginning of the recession, a potentially...
Persistent link: https://www.econbiz.de/10013119041
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Does Widowhood Explain Gender Differences in Out-of-Pocket Medical Spending Among the Elderly?
Goda, Gopi Shah - 2011
Despite the presence of Medicare, out-of-pocket medical spending is a large expenditure risk facing the elderly. While women live longer than men, elderly women incur higher out-of-pocket medical spending than men at each age. In this paper, we examine whether differences in marital status and...
Persistent link: https://www.econbiz.de/10013120195
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Insuring Long Term Care in the Us
Brown, Jeffrey R. - 2011
Long-term care expenditures constitute one of the largest uninsured financial risks facing the elderly in the United States. This paper provides an overview of the economic and policy issues surrounding insuring long-term care expenditure risk. Through this lens we also discuss the likely impact...
Persistent link: https://www.econbiz.de/10013120201