WEALTH, SAVINGS AND FINANCIAL SECURITY AMONG OLDER HOUSE

该计划项目是一个协调的分析工作， 围绕着一个包含财富信息的核心数据库， 储蓄、收入、工作历史和计划的劳动力供应， 消费、家庭结构、健康、偏好和风险 厌恶 我们的目标是在我们的领域取得重大进展， 对财富的理解，储蓄行为， 美国老年人家庭的安全问题。 调查在过去受到了明确的严重阻碍 现有数据库不足，这种情况已经改变 在过去的六年里，随着 关于财富和储蓄的新的、质量明显更高的数据。 使用这些新的和明显的上级的分析项目 数据库关注财富的三个重要方面 和储蓄行为：以传统形式持有的财富 金融和有形资产，以私人形式持有的财富， 养老金权利，以及以社会权利形式持有的财富 安全福利。 项目2关注生命的特殊特征- 储蓄、消费和劳动力供给的循环模型， 健康和其他冲击对劳动力供应的影响 经济地位的长期演变，并审查了 在模型中引入异质性的影响 偏好和风险规避。 我们还研究了 随着年龄的增长，人们的偏好和风险厌恶也会发生变化， 并计划开发新的实验性时间测量方法 偏好、风险厌恶和贴现率。 项目3是 关注以私有财产权形式持有的财富 养老金，并将利用独特的信息， 可在核心上对私营养老金的特点 布局 项目5侧重于一个特别重要的主题， 财富和储蓄行为--遗赠，继承， 以及家庭内部的转移影响了财富水平， 储蓄水平和收入分配。 在所有 在这项工作中，我们强调健康状况及其 工作、储蓄、遗赠和资产积累随年龄的演变 行为

This program project is a coordinated analytic effort, organized around a Core of databases containing information about wealth, saving, earnings, work history and planned labor supply, consumption, family structure, health, preferences and risk aversion. The objective is to achieve a significant advance in our understanding of the wealth, saving behavior, and financial security of older households in the U.S. Analyses in this area of inquiry have been severely hampered in the past by the clear inadequacy of the available databases, a situation that has changed dramatically in the past half dozen years with the development of new and significantly higher quality data on wealth and saving. The analytic projects that use these new and markedly superior databases are concerned with three important dimensions of wealth and saving behavior: wealth held in the form of conventional financial and tangible assets, wealth held in the form of private pension rights, and wealth held in the form of rights to Social Security benefits. Project 2 focuses on special features of life- cycle models of saving, consumption and labor supply, works out the implications of health and other shocks to labor supply for the long run evolution of economic status, and examines the implications in the model of introducing heterogeneity in preferences and risk aversion. We also examine the consequences of allowing changes in preferences and risk aversion as people age, and plan to develop new and experimental measures of time preference, risk aversion, and discount rates. Project 3 is concerned with wealth held in the form of rights to private pensions and will take advantage of the unique information available in the core on the characteristics of private pension plans. Project 5 focuses on a topic of particular importance to wealth and saving behavior -- the role of bequests, inheritances, and intra-family transfers in effecting both the level of wealth, the level of saving, and the distribution of income. In all of this work, we emphasize the importance of health status and its evolution with age on work, saving, bequest and asset accumulation behavior.