The overall goal of this program project is to furnish information that will help in improving the financial, emotional, and physical well-being of Americans in the years preceding and following retirement. It comprises four related research projects and an administrative core to support the conduct and dissemination of the research. Project 1 seeks to determine to what extent Americans adequately prepare themselves economically for retirement, that is, do households have the resources needed to finance a consumption plan from retirement through the end of life with high probability? The answer is based on estimated life-cycle trajectories of consumption and spending for single and married persons, compared with wealth and income data. Project 2 seeks to improve the comparability of subjective well-being measures across countries. It involves administering two types of well-being measures?global life satisfaction and day reconstruction methods intended to sum momentary affect?to each of two population-representative Internet panels, one in the United States and the other in the Netherlands. Common anchoring vignettes provide for comparability. Project 3 explores differences between the United States and England in health, socio-economic status, consumption, and cognition in older populations. Issues addressed include the ways in which health and SES are affected by each other as well as by additional factors, the implications of differences in housing and out-of-pocket medical costs for total household consumption, and the relationship between cognitive abilities in married couples and decisions related to health. Project 4 aims to establish the empirical foundations of how individuals form and establish expectations. The analysis recognizes that the expectation formation process is likely to vary by domain of outcome (e.g., stocks vs. survival), and by individual psychology (e.g., myopic vs. forward-looking, optimistic vs. pessimistic). Projects will benefit from cooperation?e.g.. Projects 1 and 4 on subjective survival probabilities. Projects 2 and 3 on vignettes?as well as from the environment supported by the administrative core.

Public Health Relevance

This integrated set of projects bears on issues related to the well-being of older Americans-whether they are financially secure enough after retirement to afford health care without giving up housing and other things they value, how their income and education influence their health (and vice-versa)l, how they form expectations about their future that can influence their financial security and health.

Agency
National Institute of Health (NIH)
Institute
National Institute on Aging (NIA)
Type
Research Program Projects (P01)
Project #
5P01AG008291-19
Application #
8735050
Study Section
Special Emphasis Panel (ZAG1-ZIJ-3 (01))
Program Officer
Phillips, John
Project Start
1997-09-30
Project End
2018-06-30
Budget Start
2014-07-01
Budget End
2015-06-30
Support Year
19
Fiscal Year
2014
Total Cost
$1,419,766
Indirect Cost
$544,549
Name
Rand Corporation
Department
Type
DUNS #
006914071
City
Santa Monica
State
CA
Country
United States
Zip Code
90401
Delavande, Adeline; Rohwedder, Susann (2017) Changes in Spending and Labor Supply in Response to a Social Security Benefit Cut: Evidence from Stated Choice Data. J Econ Ageing 10:34-50
Manski, Richard; Moeller, John (2017) Barriers to oral health across selected European countries and the USA. Int Dent J 67:133-138
Manski, Richard; Moeller, John; Chen, Haiyan et al. (2017) Disparity in dental out-of-pocket payments among older adult populations: a comparative analysis across selected European countries and the USA. Int Dent J 67:157-171
Franse, Carmen B; Rietjens, Judith Ac; Burdorf, Alex et al. (2017) A prospective study on the variation in falling and fall risk among community-dwelling older citizens in 12 European countries. BMJ Open 7:e015827
Wind, Barend; Lersch, Philipp; Dewilde, Caroline (2017) The distribution of housing wealth in 16 European countries: accounting for institutional differences. J Hous Built Environ 32:625-647
Pakpahan, Eduwin; Hoffmann, Rasmus; Kröger, Hannes (2017) Retrospective life course data from European countries on how early life experiences determine health in old age and possible mid-life mediators. Data Brief 10:277-282
Delavande, Adeline; Lee, Jinkook; Menon, Seetha (2017) Eliciting Survival Expectations of the Elderly in Low-Income Countries: Evidence From India. Demography 54:673-699
Garcia, Maria Teresa Medeiros; Marques, Pedro Deslandes Correia Vasconcelos (2017) Ownership of individual retirement accounts - an empirical analysis based on SHARE. Int Rev Appl Econ 31:69-82
Gordon, E H; Peel, N M; Samanta, M et al. (2017) Sex differences in frailty: A systematic review and meta-analysis. Exp Gerontol 89:30-40
Bissonnette, Luc; Hurd, Michael D; Michaud, Pierre-Carl (2017) Individual survival curves comparing subjective and observed mortality risks. Health Econ :

Showing the most recent 10 out of 255 publications