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Advances in the Economics of Aging

This volume presents innovative research on issues of importance to the well-being of older persons: labor market behavior, health care, housing and living arrangements, and saving and wealth.

Specific topics include the effect of labor market rigidities on the employment of older workers; the effect on retirement of the availability of continuation coverage benefits; and the influence of the prospective payment system (PPS) on rising Medicare costs. Also considered are the effects of health and wealth on living arrangement decisions; the incentive effects of employer-provided pension plans; the degree of substitution between 401(k) plans and other employer-provided retirement saving arrangements; and the extent to which housing wealth determines how much the elderly save and consume.

Two final studies use simulations that describe the implications of stylized economic models of behavior among the elderly. This timely volume will be of interest to anyone concerned with the economics of aging.

364 pages | 50 line drawings, 65 tables | 6 x 9 | © 1996

National Bureau of Economic Research Project Report

Economics and Business: Health Economics

Table of Contents

Introduction by David A. Wise
1: The Effect of Labor Market Rigidities on the Labor Force Behavior of Older Workers
Michael D. Hurd
Comment: Angus S. Deaton
2: Why Are Retirement Rates So High at Age 65?
Robin L. Lumsdaine, James H. Stock, David A. Wise.
3: The Military Pension, Compensation, and Retirement of U.S. Air Force Pilots
John Ausink, David A. Wise.
Comment on Chapters 2 and 3: Robert J. Willis
4: Health Insurance and Early Retirement: Evidence from the Availability of Continuation Coverage
Jonathan Gruber, Brigitte C. Madrian.
Comment: Richard J. Zeckhauser
5: Medicare Reimbursement and Hospital Cost Growth
Mark B. McClellan
Comment: Thomas E. MaCurdy
6: Living Arrangements: Health and Wealth Effects
Axel Borsch-Supan, Daniel L. McFadden, Reinhold Schnabel.
Comment: Steven F. Venti
7: Do 401(k) Plans Replace Other Employer-Provided Pensions?
Leslie E. Papke, Mitchell Petersen, James M. Poterba.
Comment: Richard Thaler
8: Is Housing Wealth a Sideshow?
Jonathan S. Skinner
Comment: John B. Shoven
9: Elderly Health, Housing, and Mobility
Jonathan S. Feinstein
Comment: Daniel L. McFadden
10: Intergenerational Transfers, Aging, and Uncertainty
David N. Weil
Comment: James M. Poterba
Author Index
Subject Index

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