Crash and Wait? The impact of the Great Recession on Retirement Planning of Older Americans.
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ABSTRACT:
SUBMITTER: McFall BH
PROVIDER: S-EPMC3570261 | biostudies-literature | 2011 May
REPOSITORIES: biostudies-literature
Publications
Crash and Wait? The impact of the Great Recession on Retirement Planning of Older Americans.
The American economic review 20110501 3
This study uses data from pre- and post-crash surveys from the Cognitive Economics study to examine the impact of recent stock and labor market wealth losses on the planned retirement ages of older Americans. Regression estimates imply that the average wealth loss between July 2008 and May/June 2009 is associated with an increase in planned retirement age of approximately 2.5 months. Furthermore, pessimism about future stock market returns is found to amplify the impact of wealth losses on retir ...[more]
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