Nursing home residents make a difference—The overestimation of saving rates at older ages
Based on the HRS, I find strong dissaving of nursing home residents and a significant overestimation of U.S. saving rates from age 75 onwards if nursing home residents are excluded as in most micro datasets.
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- Orazio P. Attanasio & Hilary W. Hoynes, 1995.
"Differential Mortality and Wealth Accumulation,"
NBER Working Papers
5126, National Bureau of Economic Research, Inc.
- O. Attanasio & H. W. Hoynes, . "Differential mortality and wealth accumulation," Institute for Research on Poverty Discussion Papers 1079-96, University of Wisconsin Institute for Research on Poverty.
- Jeffrey R. Brown & Amy Finkelstein, 2009. "The Private Market for Long-Term Care Insurance in the United States: A Review of the Evidence," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(1), pages 5-29.
- Hurd, Michael D, 1987. "Savings of the Elderly and Desired Bequests," American Economic Review, American Economic Association, vol. 77(3), pages 298-312, June.
- Ziegelmeyer, Michael, 2011. "Nursing home residents make a difference â€“ The overestimation of saving rates at older ages," MEA discussion paper series 10210, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
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