This paper focuses on an explanation for the large shift over the past two decades in the composition of the income of the aged (65 ), increasing the role of earned income and reducing the importance of income from their own assets. We find that the pattern of change is consistently reported in...

The Division of Policy Evaluation (DPE) at the Social Security Administration (SSA) is developing a model to evaluate the distributional effects of Social Security policy changes. The model is referred to as Modeling Income in the Near Term, or MINT, because the project sought to develop within...

We examine the saving decline from the perspective of microeconomic survey data on the wealth position of American households. Can the surveys provide information on the nature and causes of the saving decline that are not evident in the macroeconomic information? The analysis concentrates on...

According to the U.S. external accounts, U.S. investors earn a significantly higher rate of return on their foreign investments than foreigners earn in the United States. This continued strong performance has produced a positive net investment income balance despite the deterioration in the U.S....

We compare the recent economic performances of China and India using a simple growth accounting framework that produces estimates of the contribution of labor, capital, education, and total factor productivity for the three sectors of agriculture, industry, and services as well as for the...

This paper empirically examines India's economic growth experience during 1960-2004, focusing on the post 1973 acceleration. Careful attention is paid to data quality. The analysis focuses on two unusual dimensions of India's experience -- the concentration of growth in services production, and...

Each year the Board of Trustees of the Old-Age, Survivors and Disability Insurance (OASDI) Trust Funds projects the future financial status of the programs extending as far as 75-years into the future. These projections incorporate anticipated trends in both demographic and economic determinants...

This paper examines the importance of annuity-like income as a share of total money income received by aged families. The analysis considers the aged (62) population as a whole as well as different parts of the aged families' income distribution during the period from the early 1980s through...

The prescription drug component of the Consumer Price Index (CPI measures recent and past drug price changes, and provides the basis for projecting future price trends and health care expenditures. However, there are concerns about the adequacy of the price data because of recent changes in the...