The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Why Do the Elderly Save? The Role of Medical Expenses
Abstract
This paper constructs a model of saving for retired single people that includes heterogeneity in medical expenses and life expectancies, and bequest motives. We estimate the model using Assets and Health Dynamics of the Oldest Old data and the method of simulated moments. Out‐of‐pocket medical expenses rise quickly with age and permanent income. The risk of living long and requiring expensive medical care is a key driver of saving for many higher‐income elderly. Social insurance programs such as Medicaid rationalize the low asset holdings of the poorest but also benefit the rich by insuring them against high medical expenses at the ends of their lives.
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Citations
Cites
On the Concept of Health Capital and the Demand for Health
Grossman, M. (1972) · Journal of Political Economy · doi:10.1086/259880 · Cited by 5,951
Card, D., Dobkin, C., & Maestas, N. (2009) · Quarterly Journal of Economics · doi:10.1162/qjec.2009.124.2.597 · Cited by 494
The measurement and structure of household wealth
Juster, F. T., Smith, J. P., & Stafford, F. (1999) · Labour Economics · doi:10.1016/s0927-5371(99)00012-3 · Cited by 275
Cited by
The Economic Importance of Financial Literacy: Theory and Evidence
Lusardi, A., & Mitchell, O. S. (2014) · Journal of Economic Literature · doi:10.1257/jel.52.1.5 · Cited by 4,698
Cohort Profile: the Health and Retirement Study (HRS)
Sonnega, A., Faul, J. D., Ofstedal, M. B., Langa, K. M., Phillips, J. W., & Weir, D. R. (2014) · International Journal of Epidemiology · doi:10.1093/ije/dyu067 · Cited by 2,318
Optimal Financial Knowledge and Wealth Inequality
Lusardi, A., Michaud, P.-C., & Mitchell, O. S. (2017) · Journal of Political Economy · doi:10.1086/690950 · Cited by 690
The Economic Importance of Financial Literacy: Theory and Evidence
Lusardi, A., & Mitchell, O. S. (2013) · SSRN Electronic Journal · doi:10.2139/ssrn.2260193 · Cited by 675
Gomes, F., Haliassos, M., & Ramadorai, T. (2021) · Journal of Economic Literature · doi:10.1257/jel.20201461 · Cited by 396
Metadata
- Authors
- De Nardi, M., French, E., & Jones, J. B.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 2010-02
- Volume
- 118
- Issue
- 1
- Pages
- 39-75
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2890197167
- Cited by
- 863
- References
- 3
- FWCI
- 130.55
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
