Rohwedder, Susann

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Subject: consumption ×

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  • Publication
    Effects of the Economic Crisis on the Older Population: How Expectations, Consumption, Bequests, and Retirement Responded to Market Shocks
    (2011-09-01) Hurd, Michael; Rohwedder, Susann
    We study the effects of the 2007-2009 recession on the population age 55+. Households in and near retirement have suffered sizeable losses in assets as a result of the economic crisis. There are a number of ways in which households might respond: reduce spending and with that increase saving, work longer, and/or bequeath less. Using longitudinal data from the Health and Retirement Study and its supplemental surveys, we find that all of these adjustments have been important.