@article {10171, title = {Life-Cycle Consumption Patterns at Older Ages in the United States and the United Kingdom: Can Medical Expenditures Explain the Difference?}, journal = {American Economic Journal: Economic Policy}, volume = {11}, year = {2019}, pages = {27 - 54}, abstract = {This paper documents significantly steeper declines in nondurable expenditures at older ages in the United Kingdom compared to the United States, in spite of income paths being similar. Several possible causes are explored, including different employment paths, housing ownership and expenses, levels and paths of health status, number of household members, and out-of-pocket medical expenditures. Among all the potential explanations considered, those relating to health care{\textemdash}differences in levels and age paths in medical expenses and medical expenditure risk{\textemdash}can fully account for the steeper declines in nondurable consumption in the United Kingdom compared to the United States.}, keywords = {Consumption and Savings, Cross-National, Medical Expenses, Spending}, issn = {1945-7731}, doi = {10.1257/pol.20170182}, url = {https://pubs.aeaweb.org/doi/10.1257/pol.20170182https://pubs.aeaweb.org/doi/pdf/10.1257/pol.20170182}, author = {James Banks and Richard Blundell and Levell, Peter and James P Smith} } @article {9981, title = {Cognitive change and driving behavior among older drivers}, journal = {Transportation Research Record: Journal of the Transportation Research Board}, volume = {2672}, year = {2018}, pages = {89-100}, abstract = {Per vehicle miles traveled, older adults have a high fatal crash rate. One factor is dementia. This study aims to assess how differences in cognition affect driving behavior among older drivers. We analyzed data from the Health and Retirement Study. Our study used cognition, demographics, and driving behavior from 2006 to 2014 for respondents aged 65 and above. Three levels of driving behavior were measured: whether the individual could drive, whether they had driven in the past month, and whether they drove long distances. Cognitive function was measured through the Telephone Interview for Cognitive Status. Additionally, individuals were coded as having no diagnosis of dementia, a diagnosis within 2 years, or a diagnosis more than 2 years previously. We estimated the likelihood of each driving behavior in association with cognition using a modified Poisson regression model for binary outcomes. Among respondents (N = 16,061), 79\% could drive. Of these, 93\% had driven in the past month, and of these, 64\% drove long distances. Compared with no impairment, mild impairment was associated with a significant 12\% decrease in probability of being able to drive, an 8\% decrease in driving within the past month, and a 24\% decrease in driving long distances. The decrease was larger among those with severe impairment. Results were in a similar direction and strength comparing individuals without dementia with individuals 0 to 2 years after diagnosis, and to more than 2 years after diagnosis. A strong positive association exists between lower cognition and lower driving exposure.}, keywords = {Cognition \& Reasoning, Driving}, issn = {0361-1981}, doi = {10.1177/0361198118801356}, author = {Laura A Fraade-Blanar and James P Smith} } @article {6965, title = {The Potential Effects of Obesity on Social Security Claiming Behavior and Retirement Benefits.}, journal = {J Gerontol B Psychol Sci Soc Sci}, volume = {73}, year = {2018}, month = {2018 Apr 16}, pages = {723-732}, publisher = {19}, abstract = {

OBJECTIVES: Obesity prevalence among Americans has increased for nearly three decades. We explore the relationship between the rise in obesity and Social Security retirement benefit claiming, a decision impacting nearly all aging Americans. Specifically, we investigate whether obesity can affect individuals{\textquoteright} decision to claim benefits early, a choice that has important implications for financial security in retirement, particularly for those with lower socioeconomic status (SES).

METHOD: We use a microsimulation model called MINT6 (Modeling Income in the Near Term, version 6) to demonstrate the potential effects of obesity on subjective life expectancy and claiming behavior. We impute obesity status using data from the National Health and Nutrition Examination Survey (NHANES), which describes the distribution of obesity prevalence within the United States by gender, poverty status, and race/ethnicity.

RESULTS: We find that the rise in obesity and the consequent incidence of obesity-related diseases may lead some individuals to make claiming decisions that lead to lower monthly and lifetime Social Security retirement benefits. Further, we find that the potential economic impact of this decision is larger for those with lower SES.

DISCUSSION: We present a behavioral perspective by addressing the potential effects that obesity can have on individuals{\textquoteright} retirement decisions and their resulting Social Security retirement benefits.

}, keywords = {Aged, Female, Humans, Life Expectancy, Male, Obesity, Pensions, Poverty, Social Class, Social Security, United States}, issn = {1758-5368}, doi = {10.1093/geronb/gbw016}, author = {Michael D Hurd and James P Smith and Julie M Zissimopoulos} } @article {8784, title = {International Comparisons in Health Economics: Evidence from Aging Studies}, journal = {Annual Review of Economics}, volume = {4}, year = {2012}, pages = {57-81}, abstract = {The authors provide an overview of the growing literature that uses micro-level data from multiple countries to investigate health outcomes, and their link to socioeconomic factors, at older ages. Since the data are at a comparatively young stage, much of the analysis is at an early stage and limited to a handful of countries, with analysis for the US and England being the most common. What is immediately apparent as they get better measures is that health differences between countries amongst those at older ages are real and large. Countries are ranked differently according to whether one considers life-expectancy, prevalence or incidence of one condition or another. And the magnitude of international disparities may vary according to whether measures utilize doctor diagnosed conditions or biomarker-based indicators of disease and poor health. But one key finding emerges {\textendash} the US ranks poorly on all indicators with the exception of self-reported subjective health status.}, keywords = {Aging, Comparisons, Cross-National, Meta-analyses}, doi = {10.1146/annurev-economics-080511-110944}, author = {James P Smith and James Banks} } @inbook {5225, title = {Cognition and Economic Outcomes}, booktitle = {Explorations in the Economics of Aging}, year = {2011}, publisher = {University of Chicago Press}, organization = {University of Chicago Press}, address = {Chicago}, keywords = {Health Conditions and Status}, author = {John J McArdle and James P Smith and Robert J. Willis}, editor = {David A Wise} } @article {5920, title = {Inter-Vivos Giving Over the Lifecycle}, number = {WR-524-1}, year = {2011}, institution = {RAND Corporation }, address = {Santa Monica, CA}, abstract = {Inter-vivos cash transfers and bequests between family members total hundreds of billions of dollars each year. They may equalize resources within a generation of a family as well as across family generations. Transfers delayed to the end of life may represent a significant motive for saving. The authors use longitudinal data from the Health and Retirement Study on inter-vivos transfers that span up to twelve years to: describe financial transfers made by parents to children and their correlation with donor characteristics, examine age patterns in giving behavior, the persistence of transfers, and how transfers change in response to changes in marital status, economic status and health. Their empirical analysis is motivated by a dynamic life-cycle model with intervivos transfers as an argument in the utility function which generates hypotheses about the age pattern of transfers and how mortality risk, risk aversion and economic resources affect giving behavior.}, keywords = {Adult children, Consumption and Savings, Employment and Labor Force, Event History/Life Cycle, Women and Minorities}, doi = {https://doi.org/10.7249/WR524-1}, author = {Michael D Hurd and James P Smith and Julie M Zissimopoulos} } @article {7584, title = {Introduction to the Health and Retirement Study: An Evaluation and Scientific Ideas for the Future}, journal = {Forum for Health Economics and Policy}, volume = {14}, year = {2011}, pages = {Article 1}, publisher = {14}, keywords = {Methodology}, doi = {10.2202/1558-9544.1259}, author = {James P Smith} } @article {6435, title = {Temporary and Permanent Unit Non-Response in Follow-up Interviews of the Health and Retirement Study}, journal = {Longitudinal and Life Course Studies}, volume = {2}, year = {2011}, pages = {145-169}, chapter = {145}, keywords = {Methodology}, author = {Pierre-Carl Michaud and Arie Kapteyn and James P Smith and Arthur H.O. vanSoest} } @article {5813, title = {Attrition and health in ageing studies: Evidence from ELSA and HRS}, number = {WR-784 }, year = {2010}, institution = {RAND Corporation}, address = {Santa Monica, CA}, abstract = {In this paper we present results of an investigation into observable characteristics associated with attrition in ELSA and the HRS, with a particular focus on whether attrition is systematically related to health outcomes and socioeconomic status (SES). Investigating the links between health and SES is one of the primary goals of the ELSA and HRS, so attrition correlated with these outcomes is a critical concern. We explored some possible reasons for these differences. Survey maturity, mobility, respondent burden, interviewer quality, and differing sampling methods all fail to account for the gap. Differential respondent incentives may play some role, but the impact of respondent incentive is difficult to test. Apparently, cultural differences between the US and Europe population in agreeing to participate and remain in scientific surveys are a more likely explanation.}, keywords = {Cross-National, Demographics, Healthcare, Methodology}, url = {http://www.rand.org/pubs/working_papers/2010/RAND_WR784.pdf}, author = {James Banks and Muriel, Alistair and James P Smith} } @article {7513, title = {Disease prevalence, disease incidence, and mortality in the United States and in England.}, journal = {Demography}, volume = {47 Suppl}, year = {2010}, month = {2010}, pages = {S211-31}, publisher = {47}, abstract = {

We find that both disease incidence and disease prevalence are higher among Americans in age groups 55-64 and 70-80, indicating that Americans suffer from higher past cumulative disease risk and experience higher immediate risk of new disease onset compared with the English. In contrast, age-specific mortality rates are similar in the two countries, with an even higher risk among the English after age 65. We also examine reasons for the large financial gradients in mortality in the two countries. Among 55- to 64-year-olds, we estimate similar health gradients in income and wealth in both countries, but for 70- to 80-year-olds, we find no income gradient in the United Kingdom. Standard behavioral risk factors (work, marriage, obesity, exercise, and smoking) almost fully explain income gradients among those aged 55-64 in both countries and a significant part among Americans 70-80 years old. The most likely explanation of the absence of an English income gradient relates to the English income benefit system: below the median, retirement benefits are largely flat and independent of past income, and hence past health, during the working years. Finally, we report evidence using a long panel of American respondents that their subsequent mortality is not related to large changes in wealth experienced during the prior 10-year period.

}, keywords = {Aged, Aged, 80 and over, England, Health Status, Health Status Disparities, Humans, Incidence, Life Tables, Middle Aged, Morbidity, Mortality, Prevalence, Socioeconomic factors, United States}, issn = {0070-3370}, doi = {10.1353/dem.2010.0008}, author = {James Banks and Muriel, Alastair and James P Smith} } @article {7539, title = {Financial Decision Making and Cognition in a Family Context.}, journal = {Econ J (London)}, volume = {120}, year = {2010}, month = {2010 Nov 01}, pages = {F363-F380}, publisher = {120}, abstract = {

In this paper, we studied the association of cognitive traits and in particular numeracy of both spouses on financial outcomes of the family. We found significant effects, particularly for numeracy for financial and non-financial respondents alike, but much larger effects for the financial decision maker in the family. We also examined who makes these financial decisions in the family and why. Once again, cognitive traits such as numeracy were an important component of that decision with larger effects of numeracy for husbands compared to wives.

}, issn = {0013-0133}, doi = {10.1111/j.1468-0297.2010.02394.x}, author = {James P Smith and John J McArdle and Robert J. Willis} } @inbook {5231, title = {Housing Price Volatility and Downsizing in Later Life}, booktitle = {Research Findings in the Economics of Aging}, year = {2010}, pages = {337-379}, publisher = {University of Chicago Press}, organization = {University of Chicago Press}, chapter = {12}, address = {Chicago}, abstract = {In this paper, we modeled several types of housing transitions of the elderly in two countries -- Britain and the United States. One important form of these transitions involves downsizing of housing consumption, the importance of which among older households is still debated. This downsizing takes multiple forms, including reductions in the number of rooms per dwelling and the value of the home. There is also evidence that this downsizing is greater when house price volatility is greater and that American households try to escape housing price volatility by moving to places that are experience significantly less housing price volatility. Our comparative evidence in suggests that there is less evidence of downsizing in Britain. Our results indicate that housing consumption appears to decline with age in the US, even after controlling for the other demographic and work transitions associated with age that would normally produce such a decline. No such fall in housing consumption is found in Britain, largely because British households are much more likely to stay in their original residence.}, keywords = {Consumption and Savings, Cross-National, Demographics, Housing, Retirement Planning and Satisfaction}, author = {James Banks and Richard Blundell and Oldfield, Zo{\"e} and James P Smith}, editor = {David A Wise} } @article {7419, title = {The Impact of Childhood Health on Adult Labor Market Outcomes.}, journal = {Rev Econ Stat}, volume = {91}, year = {2009}, month = {2009 Sep 01}, pages = {478-489}, publisher = {91}, abstract = {

This paper examines impacts of childhood health on SES outcomes observed during adulthood-levels and trajectories of education, family income, household wealth, individual earnings and labor supply. The analysis is conducted using data that collects these SES measures in a panel who were originally children and who are now well into their adult years. Since all siblings are in the panel, one can control for unmeasured family and neighborhood background effects. With the exception of education, poor childhood health has a quantitatively large effect on all these outcomes. Moreover, these estimated effects are larger when unobserved family effects are controlled. (JEL codes; I, J).

}, issn = {0034-6535}, doi = {10.1162/rest.91.3.478}, url = {http://www.mitpressjournals.org/doi/abs/10.1162/rest.91.3.478}, author = {James P Smith} } @article {7302, title = {Reconstructing childhood health histories.}, journal = {Demography}, volume = {46}, year = {2009}, month = {2009 May}, pages = {387-403}, publisher = {46}, abstract = {

This article provides evidence about the quality of retrospective childhood health histories given to respondents in the Health and Retirement Survey (HRS) and the Panel Study of Income Dynamics (PSID). Even though information on early life health events is critical, there is legitimate skepticism about the ability of older respondents to remember specific health problems that they had during childhood. The evidence presented in this article suggests that this view is too negative. Respondents appear to remember salient childhood events about themselves, such as the illnesses they had during childhood, quite well. Moreover, these physical and psychological childhood health events are important correlates of adult health during middle age.

}, keywords = {Humans, Income, Mental Health, Retirement, Retrospective Studies}, issn = {1533-7790}, doi = {10.1353/dem.0.0058}, author = {James P Smith} } @inbook {5235, title = {The SES Health Gradient On Both Sides Of The Atlantic}, booktitle = {Developments in the economics of aging}, series = {A National Bureau of Economic Research conference report}, year = {2009}, pages = {359-406}, publisher = {University of Chicago Press}, organization = {University of Chicago Press}, chapter = {10}, address = {Chicago}, abstract = {Looking across many diseases, average health among mature men is much worse in America compared to England. Second, there exists a steep negative health gradient for men in both countries where men at the bottom of the economic hierarchy are in much worse health than those at the top. This health gradient exists whether education, income, or financial wealth is used as the marker of one{\textquoteright}s SES status. These conclusions are maintained even after controlling for a standard set of behavioral risk factors such as smoking, drinking, and obesity and are equally true using either biological measures of disease or individual self-reports. In contrast to these disease based measures, health of American men appears to be superior to the health of English men when self-reported general health status is used. The contradiction most likely stems instead from different thresholds used by Americans and English when evaluating health status on subjective scales. For the same objective health status, Americans are much more likely to say that their health is good than are the English. Finally, feedbacks from new health events to household income are one of the reasons that underlie the strength of the income gradient with health in England.}, keywords = {Cross-National, Healthcare, Risk Taking}, url = {https://ssrn.com/abstract=942969}, author = {James Banks and Michael Marmot and Oldfield, Zo{\"e} and James P Smith}, editor = {David A Wise} } @article {5758, title = {Unequal Giving: Monetary Gifts to Children Across Countries and Over Time}, number = {723}, year = {2009}, institution = {RAND Corporation }, address = {Santa Monica, CA}, abstract = {Money parents give their adult children may be important for the financing of a child s education or a first home, relaxing binding credit constraints or responding to a transitory income shock. Financial transfers however, may extend economic disparities across generations if the wealthy transfer considerable resources to their children while middle class and poor households do not. In this paper, we first examine annual gifts of money from parents to adult children in the United States and ten Europe countries using the 2004 waves of the Health and Retirement Study (HRS) and Survey of Health, Ageing and Retirement in Europe (SHARE). Second, utilizing the long panel of the HRS, we study the long-run behavior of parental monetary giving to children across families and within a family. We found that in all countries, some parents gave money to children, many did not, the amount was low, about 500 Euros annually per child, and varied by parental socio-economic status and public social expenditures. In the short term parents in the U.S. gave money to a child to compensate for low earnings or satisfy an immediate need such as schooling. Over sixteen-years, parents gave an average of about 38,000 to all their children, five percent gave over 140,000 and gave persistently. With time, the amount of money children in the same family received became more equal and a child s level of education was one of the few remaining sources of differences in money given to children. Overall, the annual amount of money parents gave adult children in any country was not enough to affect the distribution of resources within or between families in the next generation although the timing of transfers for schooling or housing may have a significant impact on an individual child. Annual parental transfers for college age children in school in the U.S. were substantially higher than average transfers to all children. The effect of parental transfers for higher education on intergenerational mobility in the U.S. will depend in part upon whether this financing is essential in the schooling decision.}, keywords = {Adult children, Cross-National, Demographics, Income, Retirement Planning and Satisfaction, SHARE}, url = {http://www.rand.org/content/dam/rand/pubs/working_papers/2010/RAND_WR723.pdf}, author = {Julie M Zissimopoulos and James P Smith} } @article {7228, title = {Dynamics of work disability and pain.}, journal = {J Health Econ}, volume = {27}, year = {2008}, month = {2008 Mar}, pages = {496-509}, publisher = {27}, abstract = {

This paper investigates the role of pain dynamics in subsequently affecting dynamics in self-reported work disability and the dynamics of employment patterns of older workers in the US. Not only is pain prevalence quite high, there also are many transitions in and out of pain at these ages. We investigate pain and its relationship to health (work disability) and work in a dynamic panel data model, using six biennial waves from the Health and Retirement Study. We find that the dynamics of the presence of pain are central to understanding the dynamics of self-reported work disability and through this pathway, pain dynamics are also a significant factor in the dynamic patterns of employment.

}, keywords = {Aged, Disabled Persons, Employment, Female, Humans, Male, Middle Aged, Models, Statistical, pain, United States}, issn = {0167-6296}, doi = {10.1016/j.jhealeco.2007.05.002}, author = {Arie Kapteyn and James P Smith and Arthur H.O. vanSoest} } @article {7150, title = {Do panel surveys really make people sick? A commentary on Wilson and Howell (60:11, 2005, 2623-2627).}, journal = {Soc Sci Med}, volume = {65}, year = {2007}, month = {2007 Sep}, pages = {1071-7; discussion 1078-81}, publisher = {65}, abstract = {

In a recent article in this journal, Wilson and Howell [2005. Do panel surveys make people sick? US arthritis trends in the Health and Retirement Survey. Social Science \& Medicine, 60(11), 2623-2627.] argue that the sharp trend of rising age-specific arthritis prevalence from 1992 to 2000 in the USA among those in their 50s based on the original Health and Retirement Study (HRS) cohort of respondents is "almost surely spurious." Their reasons are that no such trend is found in the National Health Interview Study (NHIS) over this same time period, and that an introduction of a new birth cohort into HRS in 1998 also indicates no trend. They also claim that there may be an inherent bias in panel surveys leading respondents to report greater levels of disease as the duration of their participation in the panel increases. This bias, which they call "panel conditioning," suggests a tendency for participants in a longitudinal survey to seek out medical care and diagnosis of symptoms asked about in previous waves. In this paper, we show that the evidence presented and the conclusions reached by Wilson and Howell are incorrect. Properly analyzed, three national health surveys--the NHIS, National Health and Nutrition Examination Survey (NHANES), and HRS--all show increases in age-specific arthritis prevalence during the 1990s. Since the new HRS sample cohort introduced in 1998 represents only a part of that birth cohort, we also demonstrate that Wilson and Howell{\textquoteright}s evidence in favor of panel conditioning was flawed. We find little indication of panel conditioning among existing participants in a panel survey.

}, keywords = {Arthritis, Female, Health Surveys, Humans, Male, Middle Aged, Prevalence, United States}, issn = {0277-9536}, doi = {10.1016/j.socscimed.2007.04.019}, author = {David R Weir and James P Smith} } @article {5679, title = {Enhancing the Quality of Data on the Measurement of Income and Wealth}, number = {WP 2007-151}, year = {2007}, institution = {Michigan Retirement and Disability Research Center, University of Michigan}, address = {Ann Arbor, MI}, abstract = {Over the last decade or so, a substantial effort has gone into the design of a series of methodological investigations aimed at enhancing the quality of survey data on income and wealth. These investigations have largely been conducted at the Survey Research Center at the University of Michigan, and have mainly involved two longitudinal surveys: the Health and Retirement Study (HRS), with a first wave beginning in 1992 and continued thereafter every other year through 2004; and the Assets and Health Dynamics Among the Oldest Old (AHEAD) Study, begun in 1993 and continued in 1995 and 1998, then in every other year through 2004. Surveys for the year 2006 are currently in the field. This paper provides an overview of the main studies and summarizes what has been learned so far. The studies include; a paper by Juster and Smith (Improving the Quality of Economic Data: Lessons from the HRS and AHEAD, JASA, 1997); a paper by Juster, Cao, Perry and Couper (The Effect of Unfolding Brackets on the Quality of Wealth Data in HRS, MRRC Working Paper, WP 2006-113, January 2006); a paper by Hurd, Juster and Smith (Enhancing the Quality of Data on Income: Recent Innovations from the HRS, Journal of Human Resources, Summer 2003); a paper by Juster, Lupton and Cao (Ensuring Time-Series Consistency in Estimates of Income and Wealth, MRRC Working Paper, WP 2002-030, July 2002); a paper by Cao and Juster (Correcting Second-Home Equity in HRS/AHEAD: MRRC Working Paper WP 2004-081, June 2004); and a paper by Rohwedder, Haider and Hurd (RAND Working Paper, 2004).}, keywords = {Income, Methodology, Net Worth and Assets}, url = {https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1095815}, author = {Juster, F. Thomas and Cao, Honggao and Mick P. Couper and Daniel H. Hill and Michael D Hurd and Joseph P. Lupton and Michael M. Perry and James P Smith} } @article {7068, title = {Disease and Disadvantage in the United States and in England}, journal = {Journal of the American Medical Association}, volume = {295}, year = {2006}, pages = {2037-2045}, publisher = {295}, abstract = {Context The United States spends considerably more money on health care than the United Kingdom, but whether that translates to better health outcomes is unknown. Objective To assess the relative heath status of older individuals in England and the United States, especially how their health status varies by important indicators of socioeconomic position. Design, Setting, and Participants We analyzed representative samples of residents aged 55 to 64 years from both countries using 2002 data from the US Health and Retirement Survey (n=4386) and the English Longitudinal Study of Aging (n=3681), which were designed to have directly comparable measures of health, income, and education. This analysis is supplemented by samples of those aged 40 to 70 years from the 1999-2002 waves of National Health and Nutrition Examination Survey (n=2097) and the 2003 wave of the Health Survey for England (n=5526). These surveys contain extensive and comparable biological disease markers on respondents, which are used to determine whether differential propensities to report illness can explain these health differences. To ensure that health differences are not solely due to health issues in the black or Latino populations in the United States, the analysis is limited to non-Hispanic whites in both countries. Main Outcome Measure Self-reported prevalence rates of several chronic diseases related to diabetes and heart disease, adjusted for age and health behavior risk factors, were compared between the 2 countries and across education and income classes within each country. Results The US population in late middle age is less healthy than the equivalent British population for diabetes, hypertension, heart disease, myocardial infarction, stroke, lung disease, and cancer. Within each country, there exists a pronounced negative socioeconomic status (SES) gradient with self-reported disease so that health disparities are largest at the bottom of the education or income variants of the SES hierarchy. This conclusion is generally robust to control for a standard set of behavioral risk factors, including smoking, overweight, obesity, and alcohol drinking, which explain very little of these health differences. These differences between countries or across SES groups within each country are not due to biases in self-reported disease because biological markers of disease exhibit exactly the same patterns. To illustrate, among those aged 55 to 64 years, diabetes prevalence is twice as high in the United States and only one fifth of this difference can be explained by a common set of risk factors. Similarly, among middleaged adults, mean levels of C-reactive protein are 20 higher in the United States compared with England and mean high-density lipoprotein cholesterol levels are 14 lower. These differences are not solely driven by the bottom of the SES distribution. In many diseases, the top of the SES distribution is less healthy in the United States as well. Conclusion Based on self-reported illnesses and biological markers of disease, US residents are much less healthy than their English counterparts and these differences exist at all points of the SES distribution.}, keywords = {Cross-National, Health Conditions and Status, Methodology}, url = {http://www.jama.com}, author = {James Banks and Michael Marmot and Oldfield, Zo{\"e} and James P Smith} } @article {5675, title = {Effects of Attrition and Non-Response in the Health and Retirement Study}, number = {2246}, year = {2006}, institution = {Institute for the Study of Labor (IZA)}, address = {Bon}, abstract = {We study the effect of attrition and other forms of non-response on the representativity over time of the Health and Retirement Study (HRS) sample born 1931-1941; the sample was initially drawn in 1992. Although some baseline characteristics of respondents do appear correlated with non-response over time, the 2002 sample of respondents does not appear to suffer significantly from selection on observables, except for race and ethnicity; for these two observables, longitudinal weights based on the Current Population Survey (CPS) can be used and are provided with the data set. We attribute this lack of selection to the fact that attritors who differ most eventually come back to the survey in waves prior to 2002. Although this allows cross-sections to remain fairly representative in later waves, it suggests that longitudinal analysis should use the unbalanced sample rather than the balanced sample of those interviewed in all waves. Individuals who attrit but who are recruited back into the survey are very different from those who are permanent attritors to the HRS. Finally, we investigate the selective nature of the decision of respondents to grant HRS permission to access their Social Security records and of the non-response introduced by employers of pension policyholders not providing HRS with worker{\textquoteright}s Summary Plan Descriptions. We find that subsamples for which such information is available are selective on a number of dimensions, such as education and other socioeconomic status (SES) outcomes.}, keywords = {Methodology}, url = {http://ssrn.com/abstract=928369}, author = {Arie Kapteyn and Pierre-Carl Michaud and James P Smith and Arthur H.O. vanSoest} } @inbook {5203, title = {Consequences and Predictors of New Health Events}, booktitle = {Analyses in the Economics of Aging}, year = {2005}, note = {ProCite field 6 : In ProCite field 8 : ed}, publisher = {University of Chicago Press}, organization = {University of Chicago Press}, address = {Chicago}, abstract = {The emphasis in health research has been on understanding and disentangling the multiple ways in which socio-economic status may influence a variety of health outcomes. Consequently, much less is currently known about the impact health may have on SES. But at least for working-aged individuals, health feedbacks to labor supply, household income, and wealth may be quantitatively quite important. Therefore, one aim of this paper will be to estimate the effect of new health events on a series of subsequent outcomes that are both directly and indirectly related to SES. These outcomes will include out-of-pocket medical expenses, the intensive and extensive margins of labor supply, health insurance, and household income.}, keywords = {Demographics, Health Conditions and Status}, url = {http://www.ifs.org.uk/publications.php}, author = {James P Smith}, editor = {David A Wise} } @article {5632, title = {The Impact of SES on Health over the Life Course}, number = {WR-318}, year = {2005}, institution = {RAND Labor and Population Program}, address = {Santa Monica, CA}, abstract = {People of lower socio-economic status (SES) have much worse health outcomes (Marmot (1999), Smith (1999)). But why this is so remains under considerable debate ((Adams et al. (2003), Deaton (2003)). A central question is whether these large differences in health by such SES indicators as income or wealth largely reflect causation from SES to health. But even if SES mainly affects health, what dimensions of SES actually matter financial aspects such as income or wealth or non-financial dimensions like education?}, keywords = {Demographics, Health Conditions and Status, Net Worth and Assets}, doi = {https://doi.org/10.7249/WR318}, author = {James P Smith} } @inbook {5200, title = {Unraveling the SES-Health Connection}, booktitle = {Aging, Health and Public Policy: Demographic and Economic Perspectives}, series = {Population and Development Review}, volume = {30}, year = {2005}, note = {ProCite field 6 : In ProCite field 8 : ed.}, pages = {108-132}, publisher = {Population Council}, organization = {Population Council}, address = {New York}, keywords = {Demographics, Health Conditions and Status}, author = {James P Smith}, editor = {Linda J. Waite} } @article {5633, title = {Work Disability is a Pain in the , Especially in England, The Netherlands, and the United States}, year = {2005}, institution = {RAND Labor and Population Program}, abstract = {This paper investigates the role of pain in determining self-reported work disability in the U.S., the U.K. and The Netherlands. Even if identical questions are asked, cross-country differences in reported work disability remain substantial. In the U.S. and the Netherlands, respondent evaluations of work limitations of hypothetical persons described in pain vignettes are used to identify the extent to which differences in self-reports between countries or socio-economic groups are due to systematic variation in the response scales.}, keywords = {Disabilities, Methodology}, url = {http://www.rand.org/labor/pub.html}, author = {James Banks and Arie Kapteyn and James P Smith and Arthur H.O. vanSoest} } @article {5605, title = {The Division of Bequests}, year = {2004}, institution = {RAND}, keywords = {Adult children}, author = {Michael D Hurd and James P Smith} } @article {6847, title = {Enhancing the Quality of Data on Income: Recent Innovations from the HRS}, journal = {Journal of Human Resources}, volume = {38}, year = {2003}, pages = {758-772}, publisher = {38}, abstract = {This paper evaluates two survey innovations introduced in the HRS that aimed to improve income measurement. The innovations are (1) the integration of questions for income and wealth and (2) matching the periodicity over which income questions are asked to the typical way such income is received. Both innovations had significant impacts in improving the quality of income reports. For example, the integration of income questions into the asset module produced in HRS an across-wave 63 percent increase in the amount of income derived from financial assets, real estate investments and farm and business equity. Similarly, asking respondents to answer using a time interval consistent with how income is received substantially improved the quality of reports on social security income. Fortunately, we also suggest ways that these innovations can be introduced into other major social science surveys.}, keywords = {Income, Methodology}, author = {Michael D Hurd and Juster, F. Thomas and James P Smith} } @article {6859, title = {Special Issue on Cross-National Comparative Research Using Panel Surveys (Introduction)}, journal = {Journal of Human Resources}, volume = {38}, year = {2003}, pages = {231-240}, publisher = {38}, abstract = {Until recently, international comparative research had a poor reputation, especially in economics. Panel surveys comparable to those in the United States either did not exist or were viewed as being of low quality. However, the number and quantity of international panels surveys are improving rapidly and in many dimensions will soon exceed those of their U.S. counterparts, particularly as foreign-born academics trained in the United States use data from their home countries in their research. This article introduces a series of papers presented at a conference on comparative international research using panel surveys, which took place in Ann Arbor, Michigan in October 2000. Its goal was to encourage researchers in the social sciences to use panel surveys to address critical scientific and policy issues that would be better informed by international comparisons and the variation in policy environments across countries. Five of the seven papers explicitly or implicitly examine international differences in savings behavior and wealth accumulation; the two remaining papers use international comparisons to assess the status of young children. }, keywords = {Households, retirement savings, Wealth, Workforce}, doi = {10.2307/1558744}, author = {James P Smith and Stafford, Frank and Walker, James R.} } @article {6814, title = {Can patient self-management help explain the SES health gradient?}, journal = {Proc Natl Acad Sci U S A}, volume = {99}, year = {2002}, month = {2002 Aug 06}, pages = {10929-34}, publisher = {99}, abstract = {

There are large differences in health outcomes by socioeconomic status (SES) that cannot be explained fully by traditional arguments, such as access to care or poor health behaviors. We consider a different explanation-better self-management of disease by the more educated. We examine differences by education in treatment adherence among patients with two illnesses, diabetes and HIV, and then assess the subsequent impact of differential adherence on health status. One unique component of this research is that for diabetes we combine two different surveys-one cohort study and one randomized clinical trial-that are usually used exclusively by either biomedical or/and social scientists separately. For both illnesses, we find significant effects of adherence that are much stronger among patients with high SES. After controlling for other factors, more educated HIV+ patients are more likely to adhere to therapy, and this adherence made them experience improvements in their self-reported general health. Similarly, among diabetics, the less educated were much more likely to switch treatment, which led to worsening general health. In the randomized trial setting, intensive treatment regimens that compensated for poor adherence led to better improvements in glycemic control for the less educated. Among two distinct chronic illnesses, the ability to maintain a better health regimen is an important independent determinant of subsequent health outcomes. This finding is robust across clinical trial and population-based settings. Because this ability varies by schooling, self-maintenance is an important reason for the steep SES gradient in health outcomes.

}, keywords = {Adolescent, Adult, Antiretroviral Therapy, Highly Active, Diabetes Mellitus, Type 1, Educational Status, Female, Health Knowledge, Attitudes, Practice, HIV Infections, Humans, Insulin, Longitudinal Studies, Male, Patient Compliance, Population Surveillance, Prospective Studies, Randomized Controlled Trials as Topic, Self Care, Social Class}, issn = {0027-8424}, doi = {10.1073/pnas.162086599}, author = {Dana P Goldman and James P Smith} } @article {5516, title = {Expected Bequests and their Distribution}, year = {2002}, note = {National Institute on Aging}, institution = {National Bureau of Economic Research}, abstract = {Based on a sample of actual bequests that is population-representative and on the subjective probability of bequests, we estimate the distribution of bequests that the older population will make. We find that the distribution is highly skewed, so that the typical baby-boom person will receive a very modest inheritance. This is partly due to the skewed distribution of wealth and partly due to the tendency of the wealthy to have fewer children. But it is also due to anticipated dissaving: we estimate that households in the age band 70-74 will bequeath just 39 of their wealth, consuming the rest before they die.}, keywords = {Adult children, Consumption and Savings}, url = {http://papers.nber.org/papers/w9142}, author = {Michael D Hurd and James P Smith} } @inbook {5133, title = {Anticipated and Actual Bequests}, booktitle = {Themes in the Economics of Aging}, year = {2001}, note = {ProCite field 6 : In ProCite field 8 : ed.}, publisher = {University of Chicago Press}, organization = {University of Chicago Press}, address = {Chicago, IL}, abstract = {This paper uses data on anticipated bequests from two waves of the Health and Retirement Study and the Asset and Health Dynamics of the Oldest Old (AHEAD), and on actual bequests from AHEAD. Actual bequests were measured in exit interviews given by proxy respondents for 774 AHEAD respondents who died between waves 1 and 2. Because the exit interview is representative of the elderly population, the distribution of estate values is quite different from that obtained from estate records, which represent just a wealthy subset of the population. Anticipated bequests were measured by the subjective probability of leaving bequests. Between waves 1 and 2, increases in bequest probabilities were associated with increases in the subjective probability of surviving, increments in household wealth, and widowing while out-of-pocket medical expenses reduced the likelihood of a bequest. By comparing bequest probabilities with baseline wealth we were able to test a main prediction of the life-cycle model, that individuals will dissave at advanced old-age. The AHEAD respondents anticipate substantial dissaving before they die.}, keywords = {Adult children, Consumption and Savings, Demographics, Event History/Life Cycle, Health Conditions and Status}, url = {http://www.nber.org}, author = {Michael D Hurd and James P Smith}, editor = {David A Wise} } @inbook {5127, title = {The Association of Influenza Vaccine Receipt with Health and Economic Expectations among Elders: The AHEAD Study}, booktitle = {Wealth, work, and health: Innovations in measurement in the social sciences: Essays in honor of F. Thomas Juster}, year = {1999}, note = {ProCite field[8]: eds.}, pages = {326-34.}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, keywords = {Consumption and Savings, Expectations, Health Conditions and Status, Methodology}, author = {Robert B Wallace and Nichols, Sara and Michael D Hurd}, editor = {James P Smith and Robert J. Willis} } @article {6639, title = {The associations between self-rated vision and hearing and functional status in middle age.}, journal = {Ophthalmology}, volume = {106}, year = {1999}, month = {1999 Feb}, pages = {401-5}, publisher = {106}, abstract = {

OBJECTIVES: To describe the associations between self-reported visual and hearing impairment and an index of global functional status among community-dwelling, middle-aged Americans.

DESIGN: Cross-sectional.

PARTICIPANTS: A total of 9744 U.S. community-dwelling persons 51 to 61 years of age participated.

METHODS: Multivariate analyses of functional status based on cross-sectional data from Wave I (1992) of the Health and Retirement Study (HRS), controlling for demographic and socioeconomic status, common chronic medical conditions, and general health status, were performed.

MAIN OUTCOME MEASURE: A global index of functional status based on self-reported limitations in 17 activities was measured.

RESULTS: Approximately 3\% of respondents in the HRS rated their vision or hearing as poor. Even after controlling for demographic factors, socioeconomic status, medical conditions, and general health status, limitations in both vision and hearing were independently correlated with worse functional status. In addition, controlling for income, wealth, and education reduced the strength of the associations between vision and hearing impairment and function, but did not eliminate them. The magnitude of effect of poor vision exceeded all medical conditions except stroke.

CONCLUSIONS: Visual and hearing impairment appear to have a significant relationship with overall functional status, among even community-dwelling, middle-aged Americans and even after controlling for general health status, medical comorbidities, and socioeconomic status.

}, keywords = {Cross-Sectional Studies, Female, health, Health Status, Health Surveys, Hearing Disorders, Humans, Male, Middle Aged, Outcome and Process Assessment, Health Care, Quality of Life, Self Disclosure, Vision Disorders}, issn = {0161-6420}, doi = {10.1016/S0161-6420(99)90082-9}, url = {http://www.ncbi.nlm.nih.gov/pubmed/9951498?dopt=Abstract}, author = {Paul P Lee and James P Smith and Raynard Kington} } @inbook {5154, title = {Health, Work, and Economic Well-Being of Older Workers, Aged 51-61: A Cross-National Comparison Using the United States HRS and the Netherlands CERRA Data Sets}, booktitle = {Wealth, Work and Health: Innovations in Measurement in the Social Sciences}, year = {1999}, note = {ProCite field 8 : eds}, pages = {233-66}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, keywords = {Employment and Labor Force, Health Conditions and Status}, author = {R.V. Burkhauser and Debra S. Dwyer and Maarten Lindeboom and Theeuwes, Jules and Wottiez, Isolde}, editor = {James P Smith and Robert J. Willis} } @article {6634, title = {Healthy bodies and thick wallets: the dual relation between health and economic status.}, journal = {J Econ Perspect}, volume = {13}, year = {1999}, note = {ProCite field 3 : RAND}, month = {1999 Spring}, pages = {144-66}, publisher = {13}, abstract = {

The first section of this paper documents the size of the association between health and one prominent economic status measure--household wealth. The next section deals with how health influences economic status by sketching out reasons why health may alter household savings (and eventually wealth) and then providing estimates of the empirical magnitude of these effects. The third section shifts attention to the other pathway--the links between economic status and health--and summarizes major controversies and evidence surrounding these issues.

}, keywords = {Financing, Personal, Health Expenditures, Health Status, Humans, Socioeconomic factors, United States}, issn = {0895-3309}, url = {http://www.aeaweb.org/jep/}, author = {James P Smith} } @inbook {5131, title = {Inheritances and Bequests}, booktitle = {Wealth, work, and health: Innovations in measurement in the social sciences: Essays in honor of F. Thomas Juster}, year = {1999}, note = {ProCite field 3 : RAND Corp ProCite field 8 : eds.}, pages = {121-49}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, keywords = {Adult children, Consumption and Savings, Methodology}, author = {James P Smith}, editor = {James P Smith and Robert J. Willis} } @inbook {5125, title = {Intergenerational Transfers: Blood, Marriage, and Gender Effects on Household Decisions}, booktitle = {Wealth, work, and health: Innovations in measurement in the social sciences: Essays in honor of F. Thomas Juster.}, year = {1999}, note = {ProCite field[3]: Georgetown U; Center for Policy Research, Syracuse U; U FLProCite field[8]: eds.}, pages = {335-55}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, keywords = {Adult children, Consumption and Savings, Demographics, Event History/Life Cycle, Methodology}, author = {Beth J Soldo and Douglas A. Wolf and John C Henretta}, editor = {James P Smith and Robert J. Willis} } @inbook {5155, title = {Labor Market Transitions in the HRS: Effects of the Subjective Probability of Retirement and of Pension Eligibility}, booktitle = {Wealth, Work and Health: Innovations in Measurement in the Social Sciences}, year = {1999}, note = {ProCite field 8 : eds.}, pages = {267-90}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, keywords = {Employment and Labor Force, Expectations, Pensions}, author = {Michael D Hurd}, editor = {James P Smith and Robert J. Willis} } @inbook {5126, title = {Lifetime Earnings, Saving Choices, and Wealth at Retirement}, booktitle = {Wealth, work, and health: Innovations in measurement in the social sciences: Essays in honor of F. Thomas Juster}, year = {1999}, note = {RDA 1999-002 WiseProCite field[8]: eds}, pages = {87-120.}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, keywords = {Consumption and Savings, Event History/Life Cycle, Methodology, Net Worth and Assets, Retirement Planning and Satisfaction}, author = {Steven F Venti and David A Wise}, editor = {James P Smith and Robert J. Willis} } @inbook {5152, title = {Pension and Social Security Wealth in the Health and Retirement Study}, booktitle = {Wealth, Work and Health: Innovations in Measurement in the Social Sciences}, year = {1999}, note = {RDA 1996-005; Revision of Pension Research Council Working Paper PRC WP 97-3 ProCite field 8 : eds.}, pages = {150-208}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, abstract = {This study attempts to understand the impact of pension and social security wealth on decisions made by people of retirement age. Their in-depth analysis of the Health and Retirement Study gives many interesting findings. Of those people participating in the Health and Retirement Study, more then half of the wealth is in the form of social security, pensions, and health insurance. Various topics are explored in this paper.}, keywords = {Net Worth and Assets, Pensions, Social Security}, author = {Alan L Gustman and Olivia S. Mitchell and Andrew A. Samwick and Thomas L. Steinmeier}, editor = {James P Smith and Robert J. Willis} } @article {6673, title = {The relationship of self-rated vision and hearing to functional status and well-being among seniors 70 years and older.}, journal = {Am J Ophthalmol}, volume = {127}, year = {1999}, month = {1999 Apr}, pages = {447-52}, publisher = {127}, abstract = {

PURPOSE: To describe the relationship between self-reported visual and hearing impairment and an index of global functional status among seniors age 70 years or older.

METHODS: A total of 7,320 United States community-dwelling persons aged 70 years or older participating in the 1993 Assets and Health Dynamics of the Oldest Old Survey (AHEAD) completed detailed questionnaires about their demographic, socioeconomic, and health status. Multivariate analyses of functional status (using a global index of functional status based on self-reported limitations in 11 activities) were conducted, controlling for demographic and socioeconomic status and common medical conditions, as well as independently for hearing and vision.

RESULTS: Of the respondents, 27\% rated their vision as fair or poor, whereas 25\% rated their hearing as fair or poor. Controlling for demographic factors, socioeconomic status, medical conditions, and general health status, limitations in both vision and hearing correlated independently with worsened functional status. Controlling for income, wealth, and education did not greatly reduce the strength of the association between visual and hearing impairment and function.

CONCLUSIONS: Visual and hearing impairment appear to have a significant relationship to overall functioning in the oldest old, regardless of income or wealth. By confirming these findings across income and household wealth groups, adjusted for medical conditions and general health status, in a nationally representative population of Americans age 70 years or older, this study provides a powerful added impetus to efforts for improving vision and hearing for all other Americans, including the oldest old.

}, keywords = {Aged, Aged, 80 and over, Female, Health Status, hearing, Hearing Disorders, Humans, Male, Multivariate Analysis, Quality of Life, Self Disclosure, Surveys and Questionnaires, Vision Disorders, Vision, Ocular, Visual Acuity}, issn = {0002-9394}, doi = {10.1016/s0002-9394(98)00418-8}, author = {Paul P Lee and James P Smith and Raynard Kington} } @inbook {5151, title = {The Several Cultures of Research on Subjective Expectations}, booktitle = {Wealth, Work and Health: Innovations in Measurement in the Social Sciences}, year = {1999}, note = {ProCite field 8 : eds.}, pages = {15-33}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, keywords = {Expectations, Methodology}, isbn = {0472110268}, url = {https://books.google.com/books?id=lKvp4D1HuH8C\&pg=PA209\&lpg=PA209\&dq=The+Size+Distribution+of+Wealth+in+the+United+States:+A+Comparison+Among+Recent+Household+Surveys\&source=bl\&ots=hFIAdSeWob\&sig=ACfU3U2nIQ6QSOJ4wEBUDcbZOo-x7n8b7g\&hl=en\&sa=X\&ved=2ahUKEwjQ}, author = {Dominitz, Jeff and Charles F Manski}, editor = {James P Smith and Robert J. Willis} } @inbook {5153, title = {The Size Distribution of Wealth in the United States: A Comparison Among Recent Household Surveys}, booktitle = {Wealth, Work and Health: Innovations in Measurement in the Social Sciences}, year = {1999}, note = {ProCite field 8 : eds.}, pages = {209-32}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, keywords = {Income, Methodology}, url = {https://books.google.com/books?id=lKvp4D1HuH8C\&pg=PA209\&lpg=PA209\&dq=The+Size+Distribution+of+Wealth+in+the+United+States:+A+Comparison+Among+Recent+Household+Surveys\&source=bl\&ots=hFIAdSeWob\&sig=ACfU3U2nIQ6QSOJ4wEBUDcbZOo-x7n8b7g\&hl=en\&sa=X\&ved=2ahUKEwjQ}, author = {Wolff, Edward}, editor = {James P Smith and Robert J. Willis} } @inbook {5119, title = {Unfolding Bracket Method in the Measurement of Expenditures and Wealth}, booktitle = {Wealth, Work, and Health: Innovations in Measurement in the Social Sciences: Essays in honor of F. Thomas Juster.}, year = {1999}, note = {ProCite field[8]: eds.}, pages = {64-86}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, keywords = {Consumption and Savings, Methodology, Net Worth and Assets}, url = {https://books.google.com/books?id=lKvp4D1HuH8C\&pg=PA64\&lpg=PA64\&dq=Unfolding+Bracket+Method+in+the+Measurement+of+Expenditures+and+Wealth\&source=bl\&ots=hFIAdSfSt6\&sig=ACfU3U2f2HvZoq6nQLadPt_pPaidMEBcyQ\&hl=en\&sa=X\&ved=2ahUKEwjAruG52p3qAhWIZM0KHTMiBpAQ6AEwA}, author = {Daniel H. Hill}, editor = {James P Smith and Robert J. Willis} } @book {5265, title = {Wealth, Work, and Health: Innovations in Measurement in the Social Sciences: Essays in honor of F. Thomas Juster}, year = {1999}, note = {ProCite field 8 : eds.}, publisher = {University of Michigan Press}, organization = {University of Michigan Press}, address = {Ann Arbor, MI}, abstract = {Twelve papers, presented at a December 1996 conference at the Institute for Social Research (ISR), celebrating the career of F. Thomas Juster and his retirement from the University of Michigan and the ISR, focus on survey measurement and analysis of survey data in the social sciences. Papers discuss the several cultures of research on subjective expectations; measuring investment in young children with time diaries; the unfolding bracket method in the measurement of expenditures and wealth; lifetime earnings, saving choices, and wealth at retirement; inheritances and bequests; pension and social security wealth in the Health and Retirement Study; the size distribution of wealth in the United States as measured by recent household surveys; a cross -national comparison of health, work, and economic well-being of older workers aged fifty-one to sixty-one using the U.S. and Dutch data sets; labor market transitions and whether subjective probabilities of working have predictive power for actual retirement; the impact of education and heart attack on smoking cessation among middle-aged adults; the association of influenza vaccine receipt with health and economic expectations among elders; and co -residence between married adult children and their elderly unmarried mothers. Contributors include economists. Smith is at the RAND Corporation. Willis is at the University of Michigan and the Institute for Social Research. No index.}, keywords = {Consumption and Savings, Health Conditions and Status, Income, Methodology, Retirement Planning and Satisfaction}, url = {https://www.semanticscholar.org/paper/Wealth\%2C-work\%2C-and-health-\%3A-innovations-in-in-the-\%3A-Juster-Smith/38354f435b24934cee24184e55e2a75214e2462b}, author = {James P Smith and Robert J. Willis} } @article {6603, title = {Socioeconomic Status and Health}, journal = {American Economic Review}, volume = {88}, year = {1998}, note = {ProCite field 3 : RAND}, pages = {192-96}, publisher = {88}, keywords = {Consumption and Savings, Demographics, Health Conditions and Status}, author = {James P Smith} } @article {5344, title = {The Changing Economic Circumstances of the Elderly: Income, Wealth and Social Security}, year = {1997}, institution = {Syracuse University}, abstract = {This Policy Brief looks at how the economic status of the elderly is changing and discusses their prospects for the future. While the economic status of the elderly has dramatically improved over the decades and there is evidence of modest wealth holdings by the typical older household, there still exists the reality of economic disparities. Many older Americans remain economically vulnerable and there are large inequalities in wealth. Wide disparities exist across racial and ethnic groups and across age groups, with the oldest households always faring worst, largely due to deaths of spouses. Evidence suggests that while income explains a significant part of the existing wealth disparities, it is not the sole factor. The other contributing factors are the significantly lower savings rates for low- and middle-income households, socioeconomic status and health, bequests motives, and Social Security. The brief ends with a discussion about the power of Social Security as a highly successful redistributive system and the reasons behind its need for reform.}, keywords = {Health Conditions and Status, Income, Net Worth and Assets, Social Security}, url = {https://ideas.repec.org/p/max/cprpbr/008.html}, author = {James P Smith} } @article {6566, title = {Demographic and economic correlates of health in old age.}, journal = {Demography}, volume = {34}, year = {1997}, note = {ProCite field 3 : RAND; UCLA and RAND}, month = {1997 Feb}, pages = {159-70}, publisher = {34}, abstract = {

In this paper we examine disparities in the ability to function among older Americans. We place special emphasis on two goals: (1) understanding the quantitatively large socioeconomic status-health gradient, and (2) the persistence in health outcomes over long periods. We find that there exist strong contemporaneous and long-run feedbacks from health to economic status. In light of these feedbacks, it is important to distinguish among alternative sources of income and the recipient of income in the household. This research also demonstrates that health outcomes at old age are influenced by health attributes of past, concurrent, and future generations of relatives. Finally, we find that the demographic and economic differences that exist among them explain functional health disparities by race and ethnicity, but not by gender.

}, keywords = {Activities of Daily Living, Aged, Cohort Studies, Demography, Disabled Persons, ethnicity, Female, Health Status, Humans, Income, Male, Models, Econometric, Racial Groups, Socioeconomic factors, United States}, issn = {0070-3370}, url = {https://www.ncbi.nlm.nih.gov/pubmed/9074837}, author = {James P Smith and Raynard Kington} } @article {6564, title = {Improving the Quality of Economic Data: Lessons from the HRS and AHEAD}, journal = {Journal of the American Statistical Association}, volume = {92}, year = {1997}, note = {ProCite field 3 : Survey Research Center, U MI; RAND}, pages = {1268-78}, publisher = {92}, abstract = {Missing data are an increasingly important problem in economic surveys, especially when trying to measure household wealth. However, some relatively simple new survey methods such as follow-up brackets appear to appreciably improve the quality of household economic data. Brackets represent partial responses to asset questions and apparently significantly reduce item nonresponse. Brackets also provide a remedy to deal with nonignorable nonresponse bias, a critical problem with economic survey data.}, keywords = {Methodology}, url = {https://ideas.repec.org/p/wpa/wuwpla/0402010.html}, author = {Juster, F. Thomas and James P Smith} } @inbook {5143, title = {Race, Socioeconomic Status, and Health in Late Life}, booktitle = {Racial and Ethnic Differences in the Health of Older Americans}, year = {1997}, note = {ProCite field 8 : eds.}, publisher = {National Academy Press}, organization = {National Academy Press}, address = {Washington, D.C.}, keywords = {Demographics, Health Conditions and Status}, author = {James P Smith and Raynard Kington}, editor = {Linda G Martin and Beth J Soldo} } @article {6578, title = {Socioeconomic Status and Racial and Ethnic Differences in Functional Status Associated with Chronic Diseases}, journal = {American Journal of Public Health}, volume = {87}, year = {1997}, pages = {805-10}, publisher = {87}, abstract = {OBJECTIVES: This study examined the relationships between wealth and income and selected racial and ethnic differences in health. METHODS: Cross-sectional data on a national sample of 9744 men and women aged 51 through 61 from the 1992 Health and Retirement Survey were analyzed to examine the association between socioeconomic status and racial and ethnic differences in functional status among those with hypertension, diabetes, a heart condition, and arthritis. RESULTS: Compared with Whites, African Americans report higher rates of hypertension, diabetes, and arthritis, while Hispanics report higher rates of hypertension and diabetes and a lower rate of heart conditions. Accounting for differences in education, income, and wealth had little effect on these prevalence differences. In general, among those with chronic diseases, African Americans and Hispanics reported worse function than Whites. This disadvantage was eliminated in every case by controlling for socioeconomic status. CONCLUSIONS: While socioeconomic status, including wealth, accounts for much of the difference in functional status associated with these chronic diseases. It plays a relatively small role in explaining differences in the prevalence of chronic disease, possibly reflecting different causal pathways.}, keywords = {Demographics, Health Conditions and Status, Income, Methodology, Other, Retirement Planning and Satisfaction, Women and Minorities}, author = {Raynard Kington and James P Smith} } @article {6585, title = {Wealth Inequality Among Older Americans}, journal = {The Journals of Gerontology, Series B: Psychological Sciences and Social Sciences}, volume = {52B}, year = {1997}, pages = {74-81}, publisher = {52B}, abstract = {This article uses the AHEAD study to examine the distribution of wealth among American households with a member at least 70 years old. As in other age groups, wealth is unevenly distributed among Americans aged 70 years and older. The households in the top 10th percentile of wealth distribution have 2,500 times as much wealth as those in the lowest 10th percentile. This wealth inequality is reflected in large racial and ethnic wealth deficits. Such wealth disparities, largely due to income, are the primary reason why older minority households have accumulated so little wealth compared to older White households. The findings confirm that current health status remains a powerful correlate of household wealth and that bequests motives for the elderly are congruent with the extreme wealth disparities.}, keywords = {Health Conditions and Status, Income, Net Worth and Assets}, author = {James P Smith} } @article {5309, title = {Marriage, Assets, and Savings}, year = {1995}, institution = {Santa Monica, CA., RAND Corporation}, abstract = {No}, keywords = {Adult children, Consumption and Savings, Net Worth and Assets}, author = {James P Smith} } @article {6531, title = {Racial and Ethnic Differences in Wealth in the Health and Retirement Study}, journal = {Journal of Human Resources}, volume = {30}, year = {1995}, note = {ProCite field 3 : RAND Corp}, pages = {S158-83}, publisher = {30}, abstract = {This paper examines wealth data in the Health and Retirement Study (HRS). In comparison with asset data in other major surveys, the quality of HRS asset data is high. Missing asset data does remain a problem, however, to which future HRS analysts must remain sensitive. Evidence is presented showing that it is no accident that asset data are missing, and solutions for imputing missing data are developed. Finally, racial and ethnic wealth disparities are large. These minority wealth disparities are due in part to differential inheritances and desired bequests as inequities perpetuate themselves across generations; the disparities are also due to lower minority incomes, poorer health, and an excessively narrow definition of wealth that excludes Social Security and employer pensions.}, keywords = {Demographics, Income, Methodology, Net Worth and Assets, Women and Minorities}, author = {James P Smith} } @article {5315, title = {Unequal Wealth and Incentives to Save}, journal = {RAND Documented Briefings}, number = {DB-145-RC}, year = {1995}, publisher = {RAND Distribution Services}, abstract = {Two recent surveys of household wealth funded by the National Institute on Aging, one of households containing people ages 51-61 and the other of households containing at least one person over age 70, show not only tremendous racial and ethnic disparities in wealth but also great disparities between the poor and the wealthy that are not fully accounted for by differences in income. Household wealth is adversely affected by family breakup, worsening health, and stringent asset tests that provide a disincentive for the poor to save. Although middle-aged people seem to have savings adequate for retirement, those in their 20s and 30s do not. Our long-run policy goals should be to place realistic limits on Social Security and Medicare, to encourage private savings through such moves as a consumption tax and a mandatory Provident-type fund, and to change asset limits in means-tested programs for the poor.}, keywords = {Consumption and Savings, Net Worth and Assets}, isbn = {0-8330-2289-X}, url = {https://www.rand.org/pubs/documented_briefings/DB145.html}, author = {James P Smith} } @article {5306, title = {Evaluating Health Care Reform Using the Health and Retirement Survey: A Case Study of the Health Security Act of 1993}, number = {DRU-669-NIA}, year = {1994}, institution = {RAND Corporation}, abstract = {Health care reform could dramatically alter the health care landscape. While there is substantial disagreement over the changes that should be implemented, there appears to be a consensus within the Federal Government that insurance markets need reform. To forecast the likely effects of reform, it is necessary to construct models of consumer behavior. The new Health and Retirement Survey (HRS), because of its thorough data elements and longitudinal sampling frame, is uniquely suited to answer the key behavioral questions associated with health care form. This paper describes how the HRS can be used to forecast some of the likely behavioral responses of mature Americans (aged 51 to 61) to the Health Security Act of 1993 (HSA) and as a benchmark to evaluate the impact of any health care reform. The authors draw attention to the 1992 round of the HRS as a tool for analyzing the likely impact of HSA on insurance choice, health care utilization, health outcomes, family labor supply and retirement, wealth, intergenerational transfers and living arrangements. They discuss how future waves of the HRS could be used to explain the dynamic relationships between deteriorating health, asset decumulation, and employment as individuals move further along the life-cycle.}, keywords = {Healthcare}, url = {https://www.rand.org/pubs/drafts/DRU669.html}, author = {Dana P Goldman and Paul J. Gertler and James P Smith} }