@article {10727,
	title = {Debt and Financial Vulnerability on the Verge of Retirement},
	journal = {Journal of Money, Credit and Banking},
	volume = {52},
	year = {2020},
	pages = {1005-1034},
	type = {Journal},
	abstract = {Abstract We analyze older individuals{\textquoteright} debt and financial vulnerability using data from the Health and Retirement Study (HRS) and the National Financial Capability Study (NFCS). In the HRS, we compare three groups of people age 56{\textendash}61 in 1992, 2004, and 2010, to assess cross-cohort changes in debt over time. Two waves of the NFCS (2012 and 2015) provide additional insights into debt management and older individuals{\textquoteright} capacity to shield themselves against shocks. We conclude that recent cohorts hold more debt and face more financial insecurity than in the past. This will render them particularly vulnerable to forecasted interest rate increases.},
	keywords = {Personal finance, retirement plans},
	issn = {00222879},
	doi = {10.1111/jmcb.12671},
	author = {Annamaria Lusardi and Olivia S. Mitchell and Oggero, Noemi}
}
@article {10730,
	title = {Understanding Debt in the Older Population},
	number = {WP2020-04},
	year = {2020},
	institution = {University of Pennsylvania},
	type = {Report},
	address = {Philadelphia},
	abstract = {Poor financial capability can have important consequences for well-being in later life. To explore aspects of financial management related to debt, we have designed and analyzed a new module in the 2018 Health and Retirement Study along with information from the 2018 National Financial Capability Study to evaluate the factors associated with debt and debt management in later life. We show that, even for older Americans, student loans and unpaid medical bills represent a large proportion of their debt, and having children also contributes to their indebtedness. By contrast, the more financially literate have more positive financial perceptions and behaviors. Specifically, being able to answer one additional financial literacy question correctly is associated with a higher probability (3-6 percentage points) of reporting an above average credit record and planning for retirement. Clearly, financial knowledge can help limit debt exposure at older ages.},
	keywords = {Debt, financial fragility, Financial literacy, Mortgages, Retirement, student loans},
	url = {https://repository.upenn.edu/prc_papers/575/},
	author = {Annamaria Lusardi and Olivia S. Mitchell and Oggero, Noemi}
}
@article {9600,
	title = {The Changing Face of Debt and Financial Fragility at Older Ages},
	journal = {AEA Papers and Proceedings},
	volume = {108},
	year = {2018},
	month = {05/2018},
	pages = {4077-411},
	chapter = {407},
	abstract = {We investigate changes in older individuals{\textquoteright} financial fragility as they stand on the verge of retirement. Using data from the Health and Retirement Study (HRS), we compare how debt has changed for successive cohorts of people age 56-61. Our analysis shows that recent older Americans close to retirement hold more debt, and hence face greater financial insecurity, than earlier generations. This is primarily due to having bought more expensive homes with smaller down payments. We discuss possible policy implications.

},
	keywords = {Debt, Finances, Financial security, Homeownership, Retirement Planning and Satisfaction},
	issn = {2574-0768},
	author = {Annamaria Lusardi and Olivia S. Mitchell and Oggero, Noemi}
}
@article {9259,
	title = {Debt and Financial Vulnerability on the Verge of Retirement},
	number = {Working Paper No. 23664},
	year = {2017},
	institution = {National Bureau of Economic Research},
	address = {Cambridge, MA},
	abstract = {We analyze older individuals{\textquoteright} debt and financial vulnerability using data from the Health and Retirement Study (HRS) and the National Financial Capability Study (NFCS). Specifically, in the HRS we examine three different cohorts (individuals age 56-61) in 1992, 2004, and 2010 to evaluate cross-cohort changes in debt over time. We also use two waves of the NFCS (2012 and 2015) to gain additional insights into debt management and older individuals{\textquoteright} capacity to shield themselves against shocks. We show that recent cohorts have taken on more debt and face more financial insecurity, mostly due to having purchased more expensive homes with smaller down payments.},
	keywords = {Consumption and Savings, Debt, Retirement Planning and Satisfaction},
	doi = {10.3386/w23664},
	url = {http://www.nber.org/papers/w23664.pdf},
	author = {Annamaria Lusardi and Olivia S. Mitchell and Oggero, Noemi}
}
@inbook {5170,
	title = {Social Security Earnings and Projected Benefits},
	booktitle = {Forecasting Retirement Needs and Retirement Wealth},
	year = {2000},
	pages = {327-359},
	publisher = {Univ. of Pennsylvania Press},
	organization = {Univ. of Pennsylvania Press},
	address = {Philadelphia},
	keywords = {Pensions, Social Security},
	author = {Olivia S. Mitchell and Olson, Jan and Thomas L. Steinmeier},
	editor = {Olivia S. Mitchell and Hammond, B. and Rappaport, A.}
}
@article {5317,
	title = {Construction of the Earnings and Benefits File (EBF) for Use With the Health and Retirement Survey},
	year = {1996},
	note = {ProCite field 8 : U PA and NBER; Social Security Administration; TX Tech U},
	institution = {National Bureau of Economic Research},
	abstract = {Analysts using the Health and Retirement Survey (HRS) often require information on earnings, labor market attachment, and social security benefits in order to better understand the factors affecting retirement and well-being at older ages. To this end, several derived variables were constructed and documented in the Earnings and Benefits File (EBF) described here. The EBF provides a set of summary earnings, employment, and social security wealth measures for a subset of HRS respondents in Wave 1 of the survey, for whom administration records are available. The EBF, a restricted data file, is available from the University of Michigan{\textquoteright}s Institute for Social Research for matching only with versions of the HRS containing geographic detail no finer than the Census Division level. Interested users should contact hrsquest umich.edu by email for further information on access to the data.},
	keywords = {Employment and Labor Force, Income, Methodology, Social Security},
	doi = {10.3386/w5707},
	author = {Olivia S. Mitchell and Olson, Jan and Thomas L. Steinmeier}
}
@article {5351,
	title = {Construction of the Earnings and Benefits File (EBF) for Use with the Health and Retirement Study},
	year = {1996},
	institution = {University of Pennsylvania},
	abstract = {Analysts using the Health and Retirement Survey (HRS) often require information on earnings, labor market attachment, and social security benefits in order to better understand the factors affecting retirement and well-being at older ages. To this end, several derived variables were constructed and documented in the Earnings and Benefits File (EBF) described here. The EBF provides a set of summary earnings, employment, and social security wealth measures for a subset of HRS respondents in Wave 1 of the survey, for whom administrative records are available. The EBF, a restricted data file, is available from the University of Michigan{\textquoteright}s Institute for Social Research for matching only with versions of the HRS containing geographic detail no finer than the Census Division level. Interested users should contact hrsquest@umich.edu by email for further information on access to the data.},
	keywords = {Methodology, Social Security},
	author = {Olivia S. Mitchell and Olson, Jan and Thomas L. Steinmeier}
}
