Is There an American Way of Aging? Income Dynamics of the Elderly in the U.S. And Germany

Levy Economics Institute Working Paper No. 365

24 Pages Posted: 16 Apr 2003

See all articles by Thomas L. Hungerford

Thomas L. Hungerford

National Academy of Social Insurance (NASI); Independent

Date Written: December 2002

Abstract

This study examines income dynamics during individuals' first 12 years of retirement. Two questions are asked: (1) Are the economic experiences of the elderly in the United States unique, or are they similar to those of the elderly in Germany? and (2) What is the role of Social Security in shaping these economic experiences? The results show major differences in the experiences of retired individuals as they age in the respective countries. Retired Germans generally maintain their accustomed living standards, whereas retired Americans experience a declining standard of living.

Keywords: retirement income, economics of aging, cross-national comparison

JEL Classification: J14, I31

Suggested Citation

Hungerford, Thomas L., Is There an American Way of Aging? Income Dynamics of the Elderly in the U.S. And Germany (December 2002). Levy Economics Institute Working Paper No. 365. Available at SSRN: https://ssrn.com/abstract=386962 or http://dx.doi.org/10.2139/ssrn.386962

Thomas L. Hungerford (Contact Author)

National Academy of Social Insurance (NASI) ( email )

1776 Massachusetts Avenue, NW
Suite 615
Washington, DC 20036-1904
United States

Independent ( email )

No Address Available

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