Theory Confronts Data: How the HRS is Shaped by the Economics of Aging and How the Economics of Aging Will be Shaped by the HRS

This paper describes the evolution of the HRS from its origins in 1992 to its current design as a longitudinal 'steady state' sample of older Americans which is representative of the U.S. population over age 50. It discusses the conceptual framework of the survey as well as the broad theoretical concepts that lead to its content and design. The paper concludes with a description of some recent findings that use the HRS data; in particular the positive correlation between health and wealth.