Family Status Transitions, Latent Health, and the Post-Retirement Evolution of Assets
Family Status Transitions, Latent Health, and the Post-Retirement Evolution of Assets
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家庭状况转变、潜在健康状况和退休后资产的演变
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发表时间：
2010
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影响因子：
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通讯作者：
D. Wise
中科院分区：
文献类型：
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作者：
J. Poterba;Steven F. Venti;D. Wise
我们考虑退休后资产的演变。我们要问的是，总资产--包括房屋净值、个人退休账户和其他金融资产--是否倾向于未雨绸缪，主要在突发性冲击发生时提取，还是在整个退休期间提取。我们专注于家庭地位的转变，“潜在”的健康状况和资产的演变之间的关系。我们的分析主要基于健康与退休研究的HRS和AHEAD队列的纵向数据。我们发现，资产的演变是密切相关的家庭地位的转变。对于单身人士和没有经历死亡或离婚的已婚夫妇来说，总资产在老年时会增加。相比之下，经历家庭地位转变（死亡或离婚）的已婚夫妇的个人，其资产增长速度要慢得多，而且在转变时往往会经历资产价值的大幅下降。此外，资产的水平和演变与健康有着非常密切的关系，用潜在健康指数来衡量。例如，对于1992年年龄在56至61岁之间的连续两人HRS家庭，1992年健康状况最好的五分之一家庭的资产与最差的五分之一家庭的资产之比为1.7。到2006年底，这一比例已增至2.2。
We consider the evolution of assets after retirement. We ask whether total assets--including housing equity, personal retirement accounts, and other financial assets--tend to be husbanded for a rainy day and drawn down primarily at the time of precipitating shocks, or whether they are drawn down throughout the retirement period. We focus on the relationships between family status transitions, "latent" health status, and the evolution of assets. Our analysis is based primarily on longitudinal data from the HRS and AHEAD cohorts of the Health and Retirement Study. We find that the evolution of assets is strongly related to family status transitions. For both single individuals and married couples who do not experience a death or divorce, total assets increase well into old age. In contrast, individuals in married couples that experience a family status transition, either a death or a divorce, exhibit much slower asset growth and often experience a large decline in asset values at the time of the transition. In addition, the level and evolution of assets is very strongly related to health, measured by a latent health index. For example, for continuing two-person HRS households between the ages of 56 and 61 in 1992 the ratio of assets of households in the top health quintile to the assets of those in the bottom quintile was 1.7 in 1992. It had increased to 2.2 by the end of 2006.