Crash and Wait? The impact of the Great Recession on Retirement Planning of Older Americans.

TitleCrash and Wait? The impact of the Great Recession on Retirement Planning of Older Americans.
Publication TypeJournal Article
Year of Publication2011
AuthorsMcFall, BHelppie
JournalAm Econ Rev
Volume101
Issue3
Pagination40-44
Date Published2011 May
ISSN Number0002-8282
Abstract

This study uses data from pre- and post-crash surveys from the Cognitive Economics study to examine the impact of recent stock and labor market wealth losses on the planned retirement ages of older Americans. Regression estimates imply that the average wealth loss between July 2008 and May/June 2009 is associated with an increase in planned retirement age of approximately 2.5 months. Furthermore, pessimism about future stock market returns is found to amplify the impact of wealth losses on retirement timing.

DOI10.1257/aer.101.3.40
User Guide Notes

http://www.ncbi.nlm.nih.gov/pubmed/23413315?dopt=Abstract

Endnote Keywords

Economic theory/Studies/Regression analysis/Wealth

Endnote ID

62636

Alternate JournalAm Econ Rev
Citation Key7612
PubMed ID23413315
PubMed Central IDPMC3570261
Grant ListP01 AG026571 / AG / NIA NIH HHS / United States
P01 AG026571-06 / AG / NIA NIH HHS / United States
R37 AG007137 / AG / NIA NIH HHS / United States