According to the life-cycle model, mortality risk will influence both retirement and the desire to annuitize wealth. The authors estimate the effect of subjective survival probabilities on retirement and on the claiming of Social Security benefits because delayed claiming is equivalent to the...

People of lower socio-economic status (SES) have much worse health outcomes (Marmot (1999), Smith (1999)). But why this is so remains under considerable debate ((Adams et al. (2003), Deaton (2003)). A central question is whether these large differences in health by such SES indicators as income...

This article calculates retirement incomereplacement rates for all labor market cohorts across the last 25 years and describes the changing contributions made by private pensions, social security, and assets. The factors on which replacement rates are sensitive include position in the income...

This article examines skill gaps between immigrants and native-born Americans and generational progress achieved by different immigrant ethnic groups. Evidence of a widening skill gap is not strong. While wage data show a pronounced fall in relative wages of "recent" immigrants, significant...

Money parents give their adult children may be important for the financing of a child's education or a first home, relaxing binding credit constraints or responding to a transitory income shock. Financial transfers however, may extend economic disparities across generations if the wealthy...

Based on a sample of elderly individuals from the Survey of Health, Ageing, and Retirement in Europe, we investigate the relationship between job and marital stability over the life cycle. We argue that an unobserved, time-varying social skill affects stability in both markets. Using a grouped...

Based on a sample of elderly individuals from the Survey of Health, Ageing, and Retirement in Europe, we investigate the relationship between job and marital stability over the life cycle. We argue that an unobserved, time-varying social skill affects stability in both markets. Using a grouped...