Chai, Jingjing; Maurer, Raimond; Mitchell, Olivia S.; … - 2011
the rest of the economy via high unemployment and reduced labor earnings, which reduced household contributions to Social … economic shocks, and it also explores how people may react by changing their consumption, saving and investment, work and … both short- and long-term consumption, boost work effort, and defer retirement. Younger cohorts will initially reduce their …