Maria Perozek

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Old-age mortality is notoriously difficult to predict because it requires not only an understanding of the process of senescence-which is influenced by genetic, environmental, and behavioral factors-but also a prediction of how these factors will evolve. In this paper I argue that individuals are uniquely qualified to predict their own mortality based on(More)
In the U.S., household net worth rose substantially in the latter half of the 1990s and the personal saving rate decreased rapidly. Researchers have not reached a consensus about just how these two events are linked, or how to interpret the negative correlation between wealth and the saving rate over a longer time span. The movements in net worth and the(More)
While interest in publicly funded home care for the disabled elderly is keen, basic policy issues need to be addressed before an appropriate program can be adopted and financed. This article presents findings from a study in which the cost implications of anticipated behavioral responses (for example, caregiver substitution) are estimated. Using simulation(More)
Economic models of life cycle behavior suggest that expectations about future events may affect savings, insurance, and retirement planning. This article uses data from the first wave of the Health and Retirement Survey (HRS) to examine how personal characteristics and health conditions influence expectations of nursing home use. Subjective expectations of(More)
Although teen childbearing connotes negative outcomes for the mothers, we know little about the effects on the children of being born to a teen mother. We explore some of the possible health and medical care consequences associated with having a teenage mother. The 1987 National Medical Expenditure Survey (NMES), a nationally representative data set, is the(More)
This paper investigates the impact of demographic shocks on optimal decisions about saving, life insurance, and, most centrally, asset allocation. The analysis indicates that marital-status transitions can have important effects on optimal household decisions, particularly in the cases of widowhood and divorce. Children also play a fundamental role in(More)
This paper provides a new econometric specification and new evidence on the impact of 401(k) plans on household wealth. We allow the impact of 401(k)s to vary over both time and earnings groups. Our specification--motivated by a variety of theoretical considerations and data patterns--generalizes earlier work in the literature, and we show that the modeling(More)
This article presents an empirical analysis of the extent to which acute and long-term care cause disabled elderly persons to incur catastrophic costs. We found that the proportion of those people whose out-of-pocket costs exceed 20% of income rises from 20% (when only acute care costs are measured) to 30% (when long-term care costs are included).
Recently, proposals to expand publicly financed nursing home benefits have focused on coverage for the initial months of care. This paper presents information from the 1985 National Nursing Home Survey to describe the phenomenon of multiple nursing home admissions and to examine the effects of multiple admissions on the number of individuals who would be(More)
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