In this extension to my R-37, we will have several objectives. First, we will use the opportunity ofthe financial crisis to estimate the effects on capital gains and mostly losses of various asset prices and employment changes on a variety of non-health outcomes in England and the United States. These outcomes will include employment, consumption (and its major sub-components), savings, and intended bequests. Second, we will extend our analysis to an important set of health outcomes. These health outcomes will include not only changes in physical health including mortality and disability, but also mental health including depression, psycho-social health, overall well-being, and life satisfaction. The impact of wealth increases during booms on physical and mental health may be small compared to their potential impact during severe busts. Our third specific aim will be to model and understand the impacts ofthe relatively flat English housing consumption profiles at older ages on total consumption, total non-housing consumption, and other forms of consumption at older ages. In this analysis, we will incorporate the very distinct profiles of out-of pocket medical expenses in the two countries. The final specific aim will continue to extend this analysis to a wider array of countries. This will involve continuing our work in China. In addition, the availability of multiple waves (at least four) of SHARE data on nineteen European countries with comparable measured data to that of HRS and ELSA allows us to extend our analysis to most of continental Europe.

Public Health Relevance

The research is important since it deals with the level of well-being of older people in the United States. By using comparative analysis ofthe United States, England, and other countries, we can assess how over-all well being is related to health, housing consumption, and other types of consumption at older ages in these countries.

Agency
National Institute of Health (NIH)
Institute
National Institute on Aging (NIA)
Type
Method to Extend Research in Time (MERIT) Award (R37)
Project #
5R37AG025529-08
Application #
8463073
Study Section
Special Emphasis Panel (NSS)
Program Officer
Phillips, John
Project Start
2005-05-15
Project End
2016-04-30
Budget Start
2013-05-15
Budget End
2014-04-30
Support Year
8
Fiscal Year
2013
Total Cost
$305,893
Indirect Cost
$114,785
Name
Rand Corporation
Department
Type
DUNS #
006914071
City
Santa Monica
State
CA
Country
United States
Zip Code
90401
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Banks, James; O'Dea, Cormac; Oldfield, Zoe (2011) Cognitive function, numeracy and retirement saving trajectories. Econ J (London) 120:F381-F410
Delaney, Liam; McGovern, Mark; Smith, James P (2011) From Angela's ashes to the Celtic tiger: early life conditions and adult health in Ireland. J Health Econ 30:1-10