WEALTH, SAVINGS & FINANCIAL SECURITY IN OLDER HOUSEHOLDS

这种更新将继续分析个人的决定因素， 家庭储蓄，但它将集中在个人行为将如何 应对公共政策的潜在变化。特别是 项目的调查结果将用于分析潜在变化的影响 在社会保障、医疗保险和残疾保险方面。的一个主要目标 因此，该项目将使用对单个家庭的分析， 预测公共政策变化影响的后果的行为 关于健康和退休。 该项目有两个核心和三个项目。行政 核心（续设核心A）将为以下方面提供总体行政支助： 整个项目。它还将为研究协调提供支持 和传播。数据库核心（继续核心B）将继续 研究改进人力资源统计系统财富数据的方法， 调查设计（括号，问题顺序，锚定）， 偏好和期望值以及财富指标。 这三个项目包括：（1）偏好参数项目（续 项目）将开发新的措施量化利他主义和劳动 供应的个人，并扩大现有参数的分析 与风险承受能力有关。这些估计数将用于研究 遗产，投资组合选择，以及退休之间的相互作用 财富积累的决定。(2)收益动态项目（新 项目7）将使用HRS社会保障收入历史来估计 劳动收入的随机过程。这些估计是 对自己的兴趣，特别是他们所揭示的 对收益的持续冲击。收益过程项目还将 让他们成为分析的对象。它将处理随机过程 收入是个人选择的结果，而不是 某种外在的东西它还将研究个人如何调整他们的 消费、储蓄和劳动力供给跟随收入的冲击。（3） 收益预期项目（新项目8）将收集和分析 与经济不安全相关的概率预期数据， 终身收益预期，并将这些措施与 关于社会变化的行为反应的明确问题 安全和医疗福利。

This renewal will continue the analysis of the determinants of individual households' savings, but it will focus on how individual behavior will respond to potential changes in public policy. In particular, the projects' findings will be used to analyze the effect of potential changes in Social Security, Medicare, and disability insurance. A major aim of the program project is hence to use the analysis of the individual households' behavior to project the consequences of changes in public policy impinging on health and retirement. The program project has two cores and three projects. The Administrative Core (continuing Core A) will provide overall administrative support for the entire project. It will also provide support for research coordination and dissemination. The Database Core (continuing Core B) will continue to work on methods for improving the wealth data in the HRS and on issues of survey design (bracketing, question order, anchoring) that impinge on the preference and expectational measures as well as the wealth measures. The three projects include: (1) preference parameter project (continuing Project) will develop new measures quantifying the altruism and labor supply of individuals and extend the analysis of the existing parameters relating to risk tolerance. These estimates will be used to study bequests, portfolio choices, and the interaction between the retirement and wealth accumulation decision. (2) The earnings dynamics project (new Project 7) will use HRS Social Security earnings history to estimate the stochastic process followed by labor income. Such estimates are of interest in themselves, particularly in what they reveal about the persistence of shocks to earnings. The earnings process project will also make them the subject of analysis. It will treat the stochastic process for earnings a consequence of choices made by individuals instead of something exogenous. It will also examine how individuals adjust their consumption, saving, and labor supply follow shocks to earnings. And (3) the earnings expectations project (new Project 8) will collect and analyze probabilistic expectations data related to economic insecurity and lifetime earnings expectations and will integrate these measures with explicit questions bout the behavioral response to changes in Social Security and Medicare benefits.