What Explains Changes in Retirement Plans during the Great Recession

@inproceedings{Goda2011WhatEC,
  title={What Explains Changes in Retirement Plans during the Great Recession},
  author={Gopi Shah Goda and John B. Shoven and Sita Nataraj Slavov},
  year={2011}
}
We examine changes in subjective probabilities regarding retirement between the 2006 and 2008 waves of the Health and Retirement Study. Using a first-difference approach to eliminate individual heterogeneity, we find that the steep drop in asset prices in 2008 increased the reported probability of working at age 62 during the Great Recession. Increasing unemployment at least partly attenuated this effect, but subjective probabilities of working did not respond to changes in housing markets… CONTINUE READING

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Goda, Gopi Shah, John B

Research October
  • Shoven, and Sita Nataraj Slavov, “Does Stock Market Performance Influence Retirement Expectations?,” Working Paper 16212,
  • 2009