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The Effects of Large Capital Gains on Work and Consumption: Evidence from Four Waves of the HRS

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Author Info

  • Michael Hurd
  • Monika Reti

Abstract

The authors examine how the large increase in wealth in the mid- to late 1990s affected retirement and consumption behavior. Specifically, the authors investigate how gains from stock holdings were spent.

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File URL: http://www.rand.org/content/dam/rand/pubs/drafts/2008/DRU3011.pdf
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Bibliographic Info

Paper provided by RAND Corporation Publications Department in its series Working Papers with number 03-14.

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Length: 36 pages
Date of creation: Apr 2003
Date of revision:
Handle: RePEc:ran:wpaper:03-14

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References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Michael Hurd & Kathleen McGarry, 1993. "The Relationship Between Job Characteristics and Retirement," NBER Working Papers 4558, National Bureau of Economic Research, Inc.
  2. Michael D. Hurd & Daniel McFadden & Harish Chand & Li Gan & Angela Menill & Michael Roberts, 1998. "Consumption and Savings Balances of the Elderly: Experimental Evidence on Survey Response Bias," NBER Chapters, in: Frontiers in the Economics of Aging, pages 353-392 National Bureau of Economic Research, Inc.
  3. Gustman, Alan L & Steinmeier, Thomas L, 1986. "A Structural Retirement Model," Econometrica, Econometric Society, vol. 54(3), pages 555-84, May.
  4. Holtz-Eakin, Douglas & Joulfaian, David & Rosen, Harvey S, 1993. "The Carnegie Conjecture: Some Empirical Evidence," The Quarterly Journal of Economics, MIT Press, vol. 108(2), pages 413-35, May.
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Citations

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Cited by:
  1. Courtney C. Coile & Phillip B. Levine, 2004. "Bulls, Bears, and Retirement Behavior," NBER Working Papers 10779, National Bureau of Economic Research, Inc.
  2. Hugo Benitez-Silva & Debra S. Dwyer & Wayne-Roy Gayle & Tom Muench, 2005. "Expectations in Micro Data: Rationality Revisited," Department of Economics Working Papers 05-04, Stony Brook University, Department of Economics.
  3. Julia Lynn Coronado & Maria Perozek, 2003. "Wealth effects and the consumption of leisure: retirement decisions during the stock market boom of the 1900s," Finance and Economics Discussion Series 2003-20, Board of Governors of the Federal Reserve System (U.S.).
  4. Michael Hurd & James P. Smith, 2003. "Expected Bequests and Their Distribution," Working Papers 03-10, RAND Corporation Publications Department.
  5. Gaobo Pang & University of Maryland, 2006. "Tax-Deferred Savings and Early Retirement," Computing in Economics and Finance 2006 31, Society for Computational Economics.
  6. Hugo Benítez-Silva & Debra S. Dwyer, 2003. "What to Expect when you are Expecting Rationality: Testing Rational Expectations using Micro Data," Working Papers wp037, University of Michigan, Michigan Retirement Research Center.
  7. Hugo Benitez-Silva & Selcuk Eren & Frank Heiland & Sergi Jimenez-Martín, 2009. "How Well Do Individuals Predict the Selling Prices of Their Homes?," Economics Working Paper Archive wp_571, Levy Economics Institute.
  8. Hugo Benítez-Silva & Debra S. Dwyer, 2003. "Expectation Formation of Older Married Couples and the Rational Expectations Hypothesis," Working Papers wp062, University of Michigan, Michigan Retirement Research Center.
  9. Hugo Benítez-Silva, 2003. "Labor Supply Flexibility and Portfolio Choice: An Empirical Analysis," Working Papers wp056, University of Michigan, Michigan Retirement Research Center.

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