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Topics in the Economics of Aging

The original essays and commentary in this volume—the third in a series reporting the results of the NBER Economics of Aging Program—address issues that are of particular importance to the well-being of individuals as they age and to a society at large that is composed increasingly of older persons. The contributors examine social security reform, including an analysis of the Japanese system; present the startling finding that the vast majority of people choose the wrong accumulation strategies for their pension plans; explore the continuing consequences of the decline in support of parents by children in the postwar period; investigate the relation between nursing home stays and the source of payment for the care; and offer initial findings on the implications of differences between developed and developing countries for understanding aging issues and determining appropriate directions for research.

326 pages | 50 figures, 81 tables | 6 x 9 | © 1992

National Bureau of Economic Research Project Report

Economics and Business: Business--Industry and Labor, Health Economics

Table of Contents

David A. Wise
1. Three Models of Retirement: Computational Complexity versus Predictive Validity
Robin L. Lumsdaine, James H. Stock, and David A. Wise
Comment: Sylvester J. Schieber
2. Stocks, Bonds, and Pension Wealth
Thomas E. MaCurdy and John B. Shoven
Comment: Jonathan S. Skinner
3. Health, Children, and Elderly Living Arrangements: A Multiperiod-Multinomial Probit Model with Unobserved Heterogeneity and Autocorrelated Errors
Axel Börsch-Supan, Vassilis Hajivassiliou, Laurence J. Kotlikoff, and John N. Morris
Comment: Steven F. Venti
4. The Provision of Time to the Elderly by Their Children
Axel Börsch-Supan, Jagadeesh Gokhale, Laurence J. Kotlikoff, and John N. Morris
Comment: Konrad Stahl
5. Wealth Depletion and Life-Cycle Consumption by the Elderly
Michael D. Hurd
Comment: Lee A. Lillard
6. Patterns of Aging in Thailand and Côte d’Ivoire
Angus Deaton and Christina H. Paxson
Comment: Fumio Hayashi
7. Changing the Japanese Social Security System from Pay as You Go to Actuarially Fair
Tatsuo Hatta and Noriyoshi Oguchi
Comment: Edward P. Lazear
8. Payment Source and Episodes of Institutionalization
Alan M. Garber and Thomas E. MaCurdy
Comment: Paul J. Gertler
9. Incentive Regulation of Nursing Homes: Specification Tests of the Markov Model
Edward C. Norton
Comment: Sherwin Rosen
Author Index
Subject Index

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