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Volume 16, Issue 1 - March 2016

MRRC Researcher News

A journal article based on HwaJun Choi, Kathleen McGarry, and Robert F. Schoeni’s 2015 working paper, “Liquidity Constraints, the Extended Family, and Consumption,” is due to be published in the March 2016 issue of Economics Letters.

In June 2015, Kristin S. Seefeldt’s article, “Constant Consumption Smoothing, Limited Investments, and Few Repayments: The Role of Debt in the Financial Lives of Economically Vulnerable Families,” was published in Social Service Review. Seefeldt and Helen Levy have had two MRRC projects focusing on lower-income women and families, “Saving among Low-Income Women: Motivation and Obstacles” and “How Do Lower-Income Families Think about Retirement?”

The Journal of Economic and Social Measurement published Richard V. Burkhauser, T. Lynn Fisher, Andrew J. Houtenville and Jennifer R. Tennant’s 2014 working paper, “Is the 2010 Affordable Care Act minimum standard to identify disability in all national datasets good enough for policy purposes?”

In December, The Review of Financial Studies published “How Family Status and Social Security Claiming Options Shape Optimal Life Cycle Portfolios” by Andreas Hubener, Raimond Maurer, and Olivia S. Mitchell. The article is based on the researchers’ 2013 MRRC project.

Michael Hurd and Susann Rohwedder’s examination of economic preparedness for retirement, “Measuring Economic Preparation for Retirement: Income Versus Consumption,” has gotten a lot of traditional and social media attention. In January, MarketWatch’s interviewed the researchers for his piece, “One more nail in the coffin for using income-replacement rates for retirement planning.” The researchers explain: “Replacement rate was (just) OK for the old world of retirement resources being Social Security and pensions. But the new world is that people partially finance retirement out of assets: financial, pension wealth (401(k) etc.) and housing. Their value somehow has to be taken into account.”