Life Expectancy and Old Age Savings

14 Pages Posted: 19 Jan 2009 Last revised: 17 Jul 2010

See all articles by Mariacristina De Nardi

Mariacristina De Nardi

University College London, Economics Dpt.; Federal Reserve Bank of Chicago; National Bureau of Economic Research (NBER) - Public Economics

Eric French

Department of Economics; Institute for Fiscal Studies (IFS)

John Bailey Jones

Federal Reserve Bank of Richmond; SUNY at Albany - School of Business

Multiple version iconThere are 2 versions of this paper

Date Written: January 2009

Abstract

Rich people, women, and healthy people live longer. We document that this heterogeneity in life expectancy is large, and we use an estimated structural model to assess its effect on the elderly's saving. We find that the differences in life expectancy related to observable factors such as income, gender, and health have large effects on savings, and that these factors contribute by similar amounts. We also show that the risk of outliving one's expected lifespan has a large effect on the elderly's saving behavior.

Suggested Citation

De Nardi, Mariacristina and French, Eric and Jones, John B., Life Expectancy and Old Age Savings (January 2009). NBER Working Paper No. w14653, Available at SSRN: https://ssrn.com/abstract=1329271

Mariacristina De Nardi (Contact Author)

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Eric French

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John B. Jones

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