The Effects of the Economic Crisis on the Older Population
| Year of Publication |
2010
|
|---|---|
| Author | |
| Series Title |
University of Michigan Retirement and Disability Research Center Working Paper
|
| Document Number |
WP 2010-231
|
| Institution |
The University of Michigan
|
| City |
Ann Arbor, MI
|
| Abstract |
We study the effects of the 2007-2009 recession on the population age 55 and older. 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: reduce spending and with that increase saving, work longer, and/or bequeath less. Using longitudinal data from the Health and Retirement Study and its supplemental surveys, we find that all of these adjustments have been important. |
| URL |
https://deepblue.lib.umich.edu/bitstream/handle/2027.42/78348/wp231.pdf?sequence=1
|
| Download citation |