The Effects of the Economic Crisis on the Older Population

TitleThe Effects of the Economic Crisis on the Older Population
Publication TypeReport
Year of Publication2010
AuthorsHurd, MD, Rohwedder, S
InstitutionThe University of Michigan
KeywordsEmployment and Labor Force, Public Policy, Retirement Planning and Satisfaction
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.

Endnote Keywords

retirement planning/labor Force Participation/economic crisis/2007-2009 recession

Endnote ID

24360

Citation Key5805