Over the past three decades, the wellbeing of people over retirement age has improved, not only absolutely but also relatively. Being old is no longer synonymous with being poor. This improvement has occurred across almost all of the main OECD countries, and has occurred almost regardless of the...

Aging involves not one but several transitions. People move from working to not working, from relying upon labor income to relying on transfers. They also tend to live in smaller households, not only because any children will have moved away but also because, at some stage, a spouse dies. People...