Effects of the Economic Crisis on the Older Population: How Expectations, Consumption, Bequests, and Retirement Responded to Market Shocks
Year: 2012
Type: book-chapter
Study design: Observational Study
Abstract: This chapter studies the effects of the Great Recession on the population aged 55+. Households in and near retirement have suffered sizeable losses in assets as a result of the economic crisis. There are a number of ways in which households might respond, including reducing spending, and with that, increasing saving, working longer, and/or bequeathing less. Using longitudinal data from the Health and Retirement Study and its supplemental surveys, the chapter finds that all of these adjustments have been important.
Source: Oxford University Press eBooks
Authors: Michael Hurd, Susann Rohwedder
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2485099019