@article {10213, title = {Understanding Joint Retirement}, journal = {National Bureau of Economic Research Working Paper Series}, volume = {No. 25030}, year = {2018}, note = {Author contact info:Pierre-Carl MichaudHEC Montr{\'e}al3000 C{\^o}te-Sainte-Catherine RoadMontr{\'e}al (Qu{\'e}bec), Canada H3T 2A7Tel: 514/340-6466E-Mail: pierre-carl.michaud@hec.caArthur van SoestTilburg UniversityP.O. Box 901535000 LE TilburgThe NetherlandsE-Mail: a.h.o.vansoest@uvt.nlLuc BissonnetteUniversite LavalPavillon J.-A.-DeS{\`e}ve 1025avenue des Sciences-HumainesQuebec G1V0A6CanadaE-Mail: luc.bissonnette@ecn.ulaval.ca}, month = {09/2018}, abstract = {Evidence from different sources shows that spouses{\textquoteright} retirement decisions are correlated. Retirement policies affecting individuals in couples are therefore also likely to affect behavior of their spouses. It is therefore important to account for joint features in modeling retirement. This paper studies a structural collective model of labor supply and retirement of both partners in a couple with interdependent preferences, imperfect knowledge of preferences of the spouse, and subjective expectations about the future. We propose a novel method to estimate preferences and the intra-household bargaining process, which relies on stated preferences data collected in the Health and Retirement Study. Respondents were asked to choose between hypothetical retirement trajectories describing the retirement ages and replacement rates of both spouses from three perspectives: considering their own preferences only, the preferences of their spouse only, or the most likely decision for the household. With these data, all model parameters are identified and potential sources of joint retirement can be disentangled. We find that males misperceive their wives{\textquoteright} preferences, overestimating their disutility of work. Our estimates correct for this bias. They suggest that correlation in unobserved heterogeneity components of the partners{\textquoteright} marginal utility of leisure explains a large share of joint retirement decisions. We also find significant positive complementarities in leisure, but this explains a much smaller part of joint retirement.}, keywords = {Joint Retirement, Retirement}, doi = {10.3386/w25030}, url = {http://www.nber.org/papers/w25030}, author = {Pierre-Carl Michaud and Arthur H.O. vanSoest and Luc Bissonnette} } @article {8140, title = {Rounding, focal point answers and nonresponse to subjective probability questions}, journal = {Journal of Applied Econometrics}, volume = {29}, year = {2014}, note = {Export Date: 6 August 2014}, pages = {567-585}, publisher = {29}, abstract = {We develop a panel data model explaining answers to subjective probabilities about binary events and estimate it using data from the Health and Retirement Study on six such probabilities. The model explicitly accounts for several forms of {\textquoteright}reporting behavior{\textquoteright}: rounding, focal point {\textquoteright}50 {\textquoteright} answers and item nonresponse. We find observed and unobserved heterogeneity in the tendencies to report rounded values or a focal answer, explaining persistency in 50 answers over time. Focal 50 answers matter for some of the probabilities. Incorporating reporting behavior does not have a large effect on the estimated distribution of the genuine subjective probabilities. 2013 John Wiley and Sons, Ltd.}, keywords = {Expectations, Methodology}, doi = {10.1002/jae.2321}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-84899487613andpartnerID=40andmd5=d928ee173d38abe44e09591d7df4fff7}, author = {Kristin J. Kleinjans and Arthur H.O. vanSoest} } @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 {5759, title = {Mode and Context Effects in Measuring Household Assets}, year = {2009}, note = {RAND Corporation Publications Department Working Paper}, institution = {RAND Corporation Publications Department Working Papers: 668}, abstract = {Differences in answers in Internet and traditional surveys can be due to selection, mode, or context effects. The authors exploit unique experimental data to analyze mode and context effects controlling for arbitrary selection. The Health and Retirement Study (HRS) surveys a random sample of the US 50 population, with CAPI or CATI core interviews once every two years. In 2003 and 2005, random samples were drawn from HRS respondents in 2002 and 2004 willing and able to participate in an Internet interview. Comparing core and Internet survey answers of the same people, the authors analyze mode and context effects, controlling for selection. They focus on household assets, for which mode effects in Internet surveys have rarely been studied. They find some large differences between the first Internet survey and the other three surveys which they interpret as a context and question wording effect rather than a pure mode effect.}, keywords = {Demographics, Methodology, Net Worth and Assets}, url = {URL:http://www.rand.org/pubs/working_papers/2009/RAND_WR668.pdf URL}, author = {Arthur H.O. vanSoest and Arie Kapteyn} } @article {5740, title = {Mode and Context Effects of Measuring Household Assets}, year = {2009}, institution = {Tilburg University, Center for Economic Research, Discussion Paper 2009-14}, abstract = {Differences in answers in Internet and traditional surveys can be due to selection, mode, or context effects. We exploit unique experimental data to analyze mode and context effects controlling for arbitrary selection. The Health and Retirement Study (HRS) surveys a random sample of the US 50 population, with CAPI or CATI core interviews once every two years. In 2003 and 2005, random samples were drawn from HRS respondents in 2002 and 2004 willing and able to participate in an Internet interview. Comparing core and Internet survey answers of the same people, we analyze mode and context effects, controlling for selection. We focus on household assets, for which mode effects in Internet surveys have rarely been studied. We find some large differences between the first Internet survey and the other three surveys which we interpret as a context and question wording effect rather than a pure mode effect.}, keywords = {Methodology, Net Worth and Assets}, author = {Arthur H.O. vanSoest and Arie Kapteyn} } @article {7319, title = {Selection Bias in Web Surveys and the Use of Propensity Scores}, journal = {Sociological Methods and Research}, volume = {37}, year = {2009}, pages = {291-318}, publisher = {37}, abstract = {Web surveys have several advantages compared to more traditional surveys with in-person interviews, telephone interviews, or mail surveys. Their most obvious potential drawback is that they may not be representative of the population of interest because the sub-population with access to Internet is quite specific. This paper investigates propensity scores as a method for dealing with selection bias in web surveys. The authors{\textquoteright} main example has an unusually rich sampling design, where the Internet sample is drawn from an existing much larger probability sample that is representative of the US 50 population and their spouses (the Health and Retirement Study). They use this to estimate propensity scores and to construct weights based on the propensity scores to correct for selectivity. They investigate whether propensity weights constructed on the basis of a relatively small set of variables are sufficient to correct the distribution of other variables so that these distributions become representative of the population. If this is the case, information about these other variables could be collected over the Internet only. Using a backward stepwise regression they find that at a minimum all demographic variables are needed to construct the weights. The propensity adjustment works well for many but not all variables investigated. For example, they find that correcting on the basis of socio-economic status by using education level and personal income is not enough to get a representative estimate of stock ownership. This casts some doubt on the common procedure to use a few basic variables to blindly correct for selectivity in convenience samples drawn over the Internet. Alternatives include providing non-Internet users with access to the Web or conducting web surveys in the context of mixed mode surveys.}, keywords = {Methodology}, doi = {https://doi.org/10.1177/0049124108327128}, author = {Matthias Schonlau and Arthur H.O. vanSoest and Arie Kapteyn and Mick P. Couper} } @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 {7244, title = {Health and wealth of elderly couples: causality tests using dynamic panel data models.}, journal = {J Health Econ}, volume = {27}, year = {2008}, month = {2008 Sep}, pages = {1312-25}, publisher = {27}, abstract = {

A positive relationship between socio-economic status (SES) and health, the "health-wealth gradient", is repeatedly found in many industrialized countries. This study analyzes competing explanations for this gradient: causal effects from health to wealth (health causation) and causal effects from wealth to health (wealth or social causation). Using six biennial waves of couples aged 51-61 in 1992 from the US Health and Retirement Study, we test for causality in panel data models incorporating unobserved heterogeneity and a lag structure supported by specification tests. In contrast to tests relying on models with only first order lags or without unobserved heterogeneity, these tests provide no evidence of causal wealth health effects. On the other hand, we find strong evidence of causal effects from both spouses{\textquoteright} health on household wealth. We also find an effect of the husband{\textquoteright}s health on the wife{\textquoteright}s mental health, but no other effects from one spouse{\textquoteright}s health to health of the other spouse.

}, keywords = {Aged, Causality, Family Characteristics, Female, Health Status Indicators, Humans, Income, Longitudinal Studies, Male, Middle Aged, Models, Econometric, Retirement, Social Class, Spouses, United States}, issn = {0167-6296}, doi = {10.1016/j.jhealeco.2008.04.002}, author = {Pierre-Carl Michaud and Arthur H.O. vanSoest} } @article {7185, title = {Cross-Country Variation in Obesity Patterns among Older Americans and Europeans}, journal = {Forum for Health Economics and Policy (Aging and Medical Care Costs)}, volume = {10}, year = {2007}, pages = {32}, publisher = {10}, abstract = {While the fraction of obese people is not as large in Europe as in the United States, obesity is becoming an important issue in Europe as well. Using comparable data from the Survey of Health, Aging and Retirement in Europe (SHARE) and the Health and Retirement Study in the U.S. (HRS), we analyze the correlates of obesity in the population ages 50 and above, focusing on measures of energy intake and expenditure as well as socio-economic status. We find that obesity rates differ substantially on both sides of the Atlantic and across European countries, with most of the difference coming from the right tail of the weight distribution. The well-known SES gradient in the prevalence of obesity differs across countries and cannot be fully explained by the variation in food expenditure or physical activity. Obesity is associated with lack of physical activity, calorie intake, time spent on cooking, and time and money spent on eating at home and away from home, but some of these associations vary across countries. More research is needed to analyze why this is the case.}, keywords = {Cross-National, Demographics, Health Conditions and Status, SHARE}, url = {https://www.rand.org/pubs/working_papers/WR495.html}, author = {Pierre-Carl Michaud and Arthur H.O. vanSoest and Andreyeva, Tatiana} } @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} } @article {5667, title = {How Did the Elimination of the Earnings Test Above the Normal Retirement Age Affect Retirement Expectations?}, year = {2006}, institution = {The University of Michigan, Michigan Retirement Research Center}, abstract = {This study examines the effect of the 2000 repeal of the earnings test above the normal retirement age on retirement expectations of workers aged 51 to 61 their probabilities to work past age 62 and 65 as well as the age at which they expect to start claiming old age social security benefits. We use administrative records linked to the HRS to create variables that accurately reflect the change in financial incentives. For men, we find results in line with theoretical predictions on the probability to work after age 65. For example, men whose marginal wage rate increased when the earnings test was repealed, showed the largest increase in the probability to work full-time past normal retirement age. For women, we do not find significant results, possibly due to omitting spouse benefits and their interaction with the earnings test. We also do not find significant evidence of effects of the repeal of the earnings test on the probability to work past age 62 or the expected claiming age. On the other hand, for those reaching the normal retirement age, deviations between the age at which Social Security benefits are actually claimed and the previously reported expected age are more negative in 2000 than in 1998, suggesting that the repeal has increased claiming immediately after reaching normal retirement age. Since our calculations show that the tax introduced by the earnings test was small when accounting for actuarial benefit adjustments and differential mortality, our results suggest that although workers form expectations in a way consistent with forward-looking behavior, they misperceive the complicated rules of the earnings test.}, keywords = {Retirement Planning and Satisfaction, Social Security}, url = {http://www.mrrc.isr.umich.edu/publications/papers/}, author = {Pierre-Carl Michaud and Arthur H.O. vanSoest} } @article {5655, title = {The Impact of Misperceptions about Social Security on Saving and Well-Being}, year = {2006}, institution = {The University of Michigan, Michigan Retirement Research Center}, abstract = {Earlier research suggests that many people in their fifties and early sixties are not well informed about their Social Security entitlements. This paper investigates the effect of deviations between predicted and realized Social Security benefits on several measures of well-being in retirement, such as the change in consumption expenditures at retirement, a self-assessed measure of how retirement years compare to the years before retirement, and whether the individual is worried about having enough income to get by in retirement. The analysis is based upon US data from the Health and Retirement Study, following individuals over a long time period from their fifties into retirement. We find clear evidence that people who over estimated their Social Security benefits are worse off according to several measures of well being in retirement. This relationship seems to be more pronounced for respondents who claimed benefits earlier than anticipated than for those who were simply misinformed.}, keywords = {Net Worth and Assets, Social Security}, url = {http://www.mrrc.isr.umich.edu}, author = {Susann Rohwedder and Arthur H.O. vanSoest} } @article {5660, title = {Savings, Portfolio Choice, and Retirement Expectations}, year = {2006}, institution = {The University of Michigan, Michigan Retirement Research Center}, abstract = {Studying household investment behavior is essential for understanding the full consequences of old age social security benefits. Using data from six waves of the Health and Retirement Study, we analyze the dynamics of portfolio composition before respondents start claiming social security benefits. We consider ownership as well as amounts held of several types of assets and debts. Using panel data censored regression models, portfolio adjustment is explained on the basis of demographics like gender, race, and year of birth, education level, household income, and perceived social security entitlements. We find that expectations of old age social security benefits have little effect on portfolio decisions, although there is some evidence that higher expected social security benefits lead to more risky financial investments, particularly in IRAs.}, keywords = {Consumption and Savings, Expectations, Net Worth and Assets}, url = {http://hdl.handle.net/2027.42/49420}, author = {Arthur H.O. vanSoest and Katpeyn Arie} } @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 {6907, title = {Adjust for Selection Bias in Web Surveys with Propensity Scores: The case of the Health and Retirement Study}, journal = {Proceedings of the American Statistical Association}, year = {2004}, abstract = {Many web surveys allow respondents to self select into the survey. Making inference about the population from a self-selected survey is very difficult. We analyzed data from the Health and Retirement Study (HRS) respondents of the 2002 wave as well as supplementary information about which subset of HRS respondents also responded to an additional web survey (web responders). The HRS is a longitudinal study of health, retirement and aging. The target population of the HRS includes all adults in the contiguous United States, aged 51 and over, who reside in households. We investigated whether it is possible to adjust for selection bias using propensity scores. We found that it is possible to make inferences for financial assets based on data from web responders only. However, making inferences about home values was not possible based on data from the web responders only. }, keywords = {Methodology}, url = {https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.538.1141\&rep=rep1\&type=pdf}, author = {Matthias Schonlau and Arthur H.O. vanSoest and Mick P. Couper and Arie Kapteyn and Joachim Winter} } @article {5582, title = {Health and Wealth of Elderly Couples}, year = {2004}, institution = {RAND Labor and Population Series}, keywords = {Adult children, Demographics, Health Conditions and Status, Net Worth and Assets}, author = {Pierre-Carl Michaud and Arthur H.O. vanSoest} } @article {5391, title = {Nonparametric Modeling of the Anchoring Effect in an Unfolding Bracket Design}, year = {1999}, institution = {Tilburg, NE, Tilburg University, Center for Economic Research Discussion Paper}, abstract = {Household surveys are often plagued by item non-response on economic variables of interest like income, savings or the amount of wealth. Manski (1989,1994, 1995) shows how, in the presence of such non-response, bounds on conditional quantiles of the variable of interest can be derived, allowing for any type of non-random response behavior. Including follow up categorical questions in the form of unfolding brackets for initial item non-respondents, is an effective way to reduce complete item non-response. Recent evidence, however, suggests that such design is vulnerable to a psychometric bias known as the anchoring effect. In this paper, we extend the approach by Manski to take account of the information provided by the bracket respondents. We derive bounds which do and do not allow for the anchoring effect. These bounds are applied to earnings in the 1996 wave of the Health and Retirement Survey (HRS). The results show that the categorical questions can be useful to increase precision of the bounds, even if anchoring is allowed for.}, keywords = {Methodology}, url = {https://research.tilburguniversity.edu/en/publications/nonparametric-modeling-of-the-anchoring-effect-in-an-unfolding-br}, author = {Vazquez Alvarez, Rosalia and Melenberg, Bertrand and Arthur H.O. vanSoest} }