Tenure Choice, Portfolio Structure and Long-term Care - Optimal Risk Management in Retirement
Publication date: Available online 31 January 2020Source: The Journal of the Economics of AgeingAuthor(s): Hans Fehr, Maurice HofmannAbstractWe study the interplay between tenure decisions, stock market investment and the public social security system. Housing equity not only serves a dual purpose as a consumption good and as an asset, but also provides insurance to buffer long-term care risks in retirement. Our life cycle model captures these links in order to explain why homeownership in Germany is so low. Our simulation results indicate that the public long-term care system reduces the homeownership rate in Germany by u...
Source: The Journal of the Economics of Ageing - January 31, 2020 Category: Health Management Source Type: research

Taking control: active investment choice in Singapore’s national defined contribution scheme
Publication date: Available online 28 January 2020Source: The Journal of the Economics of AgeingAuthor(s): Joelle H. FongAbstractThis paper examines what factors drive active investment choice among more than 7,000 older plan participants in the Singaporean Central Provident Fund (CPF), and assesses the extent to which financial knowledge, experience, and attitudes help predict such choice. We find that only 16% of plan participants aged 50 and above in our sample in 2016 invest a portion of their pension savings outside of the default government-run CPF fund. Plan participants who are male, younger, not married, currently...
Source: The Journal of the Economics of Ageing - January 30, 2020 Category: Health Management Source Type: research

How Do Subjective Life Expectancies Compare with Mortality Tables? Similarities and Differences in Three National Samples
Publication date: Available online 25 January 2020Source: The Journal of the Economics of AgeingAuthor(s): D .Bell, D .Comerford, E .DouglasAbstractEstimates of personal longevity play a vital role in decisions relating to asset accumulation and decumulation. Subjective life expectancy (SLE) is a measure of individuals’ expectation of remaining years of life. Either explicitly or implicitly, it is a key determinant of consumption and savings behaviour, and may be guided by a person’s own health and health behaviours. The Gateway to Global Aging, a platform for the Health and Retirement Study’s (HRS) family of populat...
Source: The Journal of the Economics of Ageing - January 26, 2020 Category: Health Management Source Type: research

Retirement and Health Investment Behaviors: An International Comparison
Publication date: Available online 22 January 2020Source: The Journal of the Economics of AgeingAuthor(s): Hiroyuki Motegi, Yoshinori Nishimura, Masato Oikawa (Source: The Journal of the Economics of Ageing)
Source: The Journal of the Economics of Ageing - January 22, 2020 Category: Health Management Source Type: research

Willingness to pay for long-term home care services: Evidence from a stated preferences analysis
Publication date: Available online 20 January 2020Source: The Journal of the Economics of AgeingAuthor(s): Anna Amilon, Jacob Ladenburg, Anu Siren, Stine Vernstrøm ØstergaardAbstractPopulation aging is expected to result in an increased demand for long-term home care services world-wide. In Denmark, long-term home care is predominately provided by local municipalities and is publicly financed. This paper uses a stated preferences approach to study the willingness to pay (WTP) for various components of long-term home care services, using household taxes as the payment vehicle. In our discrete choice experiment, we ask res...
Source: The Journal of the Economics of Ageing - January 21, 2020 Category: Health Management Source Type: research

Displaced, disliked and misunderstood: A systematic review of the reasons for low uptake of long-term care insurance and life annuities
Publication date: Available online 20 January 2020Source: The Journal of the Economics of AgeingAuthor(s): Timo R. Lambregts, Frederik T. SchutAbstractWith aging populations, the role of private insurance in financing late-in-life risks is likely to grow. Yet, demand for long-term care insurance (LTCI) and life annuities (hereafter annuities) is very limited and lags behind economic projections. This systematic literature review surveys the large number of theoretical and empirical studies analyzing this contradiction. We examine the LTCI and annuity puzzles separately and show which factors limit demand for insurance agai...
Source: The Journal of the Economics of Ageing - January 21, 2020 Category: Health Management Source Type: research

Health Inequality among Chinese Older Adults: The Role of Childhood Circumstances
Publication date: Available online 16 January 2020Source: The Journal of the Economics of AgeingAuthor(s): Binjian Yan, Xi Chen, Thomas M. GillAbstractThis paper examines the extent to which childhood circumstances contribute to health inequality in old age and how the contributions may vary across key dimensions of health. We link the China Health and Retirement Longitudinal Study (CHARLS) in 2013 and 2015 with its Life History Survey in 2014 to quantify health inequality due to childhood circumstances for which they have little control. We evaluate comprehensive dimensions of health ranging from cognitive health, mental ...
Source: The Journal of the Economics of Ageing - January 18, 2020 Category: Health Management Source Type: research

Social Security Expansion and Neighborhood Cohesion: Evidence from Community-Living Older Adults in China
Publication date: Available online 24 December 2019Source: The Journal of the Economics of AgeingAuthor(s): Elizabeth Bradley, Xi Chen, Gaojie TangAbstractGrants and services provided by the government may crowd out informal arrangements, thus weakening informal caring relations and networks. In this paper, we examine the impact of social security expansion on neighborhood cohesion of elders using China’s New Rural Pension Scheme (NRPS), one of the largest existing pension program in the world. Since its launch in 2009, more than 400 million Chinese have enrolled in NRPS. We use two waves of China Health and Retirement L...
Source: The Journal of the Economics of Ageing - December 24, 2019 Category: Health Management Source Type: research

Leaving Money on the Table? Suboptimal Enrollment in the New Social Pension Program in China
Publication date: Available online 20 December 2019Source: The Journal of the Economics of AgeingAuthor(s): Xi Chen, Lipeng Hu, Jody SindelarAbstractChina’s recently implemented New Rural Pension Scheme (NRPS), the largest social pension program in the world, was designed to provide financial protection for its rural population and reduce economic inequities. Yet the impact of this program is mitigated if those eligible fail to enroll. This paper examines the extent to which pension-eligible individuals, and their families, make optimal pension decisions. Families are involved in the NRPS decisions because, in most cases...
Source: The Journal of the Economics of Ageing - December 21, 2019 Category: Health Management Source Type: research

The gender dimension of intergenerational transfers in Europe
Publication date: Available online 14 December 2019Source: The Journal of the Economics of AgeingAuthor(s): Bernhard Hammer, Sonja Spitzer, Lili Vargha, Tanja IsteničAbstractThis paper analyses the gender dimension of intergenerational transfers in 15 European countries using National Transfer Accounts (NTA) data on age- and gender-specific transfers in 2010. We combine NTA data with information from life tables to derive measures of gender-specific net transfers over the whole life course and by life stages. The analysis distinguishes between public and private transfer flows, and accounts for transfers of services produ...
Source: The Journal of the Economics of Ageing - December 15, 2019 Category: Health Management Source Type: research

The gender gap in education and late-life cognition: Evidence from multiple countries and birth cohorts
Publication date: Available online 26 November 2019Source: The Journal of the Economics of AgeingAuthor(s): Marco Angrisani, Jinkook Lee, Erik MeijerAbstractWe document side-by-side trends in the gender gap of educational achievement and late-life cognition across countries. By and large, we find that, within the cohorts born between 1920 and 1959, women have had significantly lower educational attainment than men, with the gap narrowing over time. Correspondingly, we estimate a pronounced tendency of women's cognition to improve over time relative to men. We investigate whether these co-movements are likely due to the nar...
Source: The Journal of the Economics of Ageing - November 28, 2019 Category: Health Management Source Type: research

Editorial Board
Publication date: 2019Source: The Journal of the Economics of Ageing, Volume 14Author(s): (Source: The Journal of the Economics of Ageing)
Source: The Journal of the Economics of Ageing - November 19, 2019 Category: Health Management Source Type: research

Publisher's note
Publication date: 2019Source: The Journal of the Economics of Ageing, Volume 14Author(s): (Source: The Journal of the Economics of Ageing)
Source: The Journal of the Economics of Ageing - November 19, 2019 Category: Health Management Source Type: research

Gender Differences in Cognitive Function among Older Mexican Immigrants
Publication date: Available online 7 November 2019Source: The Journal of the Economics of AgeingAuthor(s): Maria Casanova, Emma AguilaAbstractThis paper uses data from the Health and Retirement Study (HRS) and the Mexican Health and Aging Study (MHAS) to study the cognitive function of Mexican-born older adults residing in the United States (Mexican immigrants). We find that, once differences in socioeconomic factors are accounted for, the cognitive function of male Mexican immigrants is statistically indistinguishable from that of male non-Hispanic (NH) whites, but the cognitive scores of female Mexican immigrants remain ...
Source: The Journal of the Economics of Ageing - November 7, 2019 Category: Health Management Source Type: research

Age of managers and employees – Firm survival
Publication date: February 2020Source: The Journal of the Economics of Ageing, Volume 15Author(s): Mikaela Backman, Charlie KarlssonAbstractMany developed countries will face a disproportionately large share of older individuals in the future. This change may lead to a labour force characterized by older employees and older operational managers. This paper contributes to the existing literature on the effect of aging on firm performance by performing an explorative analysis of how the age of the operational manager and the age composition of employees relate to the survival of Swedish firms during 2004–2013. We observe t...
Source: The Journal of the Economics of Ageing - November 6, 2019 Category: Health Management Source Type: research