Crash and Wait? The Impact of the Great Recession on the Retirement Plans of Older Americans-Reference-Cited by-同舟云学术

Crash and Wait? The Impact of the Great Recession on the Retirement Plans of Older Americans

Published:2011-05-01 Issue:3 Volume:101 Page:40-44
ISSN:0002-8282
Container-title:American Economic Review
language:en
Short-container-title:American Economic Review

Author:

McFall Brooke Helppie¹

Affiliation:

1. Department of Economics, University of Michigan, 611 Tappan Street, Ann Arbor, MI 48104.

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.

Publisher

American Economic Association

Subject

Economics and Econometrics

Link

https://pubs.aeaweb.org/doi/pdf/10.1257/aer.101.3.40

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