The aim of this paper is to develop indicators to highlight the ability of different national pension systems to enable individuals to maintain their living standards at retirement. Authors Margherita Borella and Elsa Fornero of the University of Turin and CeRP, perform the analysis using data...

The aim of this paper is to characterize the time series properties of earnings in Italy, using the panel data set drawn from the Bank of Italy Survey of Household Income and Wealth (SHIW). The Bank of Italy Survey is drawn every two years: this feature raises identification problems as the...

In the U.S, after age 65, households face income and health risks and a large fraction of these risks are transitory. While consumption significantly responds to transitory income shocks, out-of-pocket medical expenses do not. In contrast, both consumption and out-of-pocket medical expenses...