Online Appendix for ” Wealth Shocks and Health Outcomes : Evidence from Stock Market Fluctuations ”

@inproceedings{Schwandt2011OnlineAF,
  title={Online Appendix for ” Wealth Shocks and Health Outcomes : Evidence from Stock Market Fluctuations ”},
  author={Hannes Schwandt},
  year={2011}
}
Constructed wealth shocks underor overestimate actual wealth shocks if retirees’ expectations of stock market returns systematically differ from zero. Since 2002 the HRS includes a question about the likelihood that the stock market increases within the following year. Figure E in the Appendix plots monthly averages for this question together with the S&P500. Expectations are strikingly low: even those with stocks expect on average only a 45-60% chance that the stock market will increase… CONTINUE READING

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