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Volume 17, Issue 1 - March 2017

MRRC researcher news

MRRC authors Eric French, Mariacristina de Nardi, and John Bailey Jones, with Jeremy McCauley, have published “Medical Spending of the U.S. Elderly” in the September 2016 issue of Fiscal Studies. The article builds on earlier work the trio did for MRRC, including “The Effects of Medicaid and Medicare Reforms on the Elderly’s Savings and Medical Expenditures,” WP 2010-236.

Another De Nardi, French, and Jones article, “Medicaid Insurance in Old Age,” appeared in The American Economic Review in November 2016. This piece stems from the researchers’ 2012 working paper by the same title, WP 2012-278.

And for the hat trick: DeNardi, Jones, and French had “Savings after Retirement: A Survey” published in the 2016 Annual Review of Economics. The article draws from the 2014 MRRC working paper, “Couples’ and Singles’ Savings After Retirement,” WP 2015-322.

Helen Levy, Thomas C. Buchmueller, and Sayeh Nikpay had “Health Reform and Retirement” published in the Journals of Gerontology Series B in September. The article is based on the trio’s 2015 working paper, “The Effect on Health Reform on Retirement,” WP 2015-329.

Stephanie Moulton was interviewed by the industry journal “Reverse Mortgage Daily” in December on her 2016 project with Donald Haurin, Samuel Dodini, and Maximilian D. Schmeiser, “How Home Equity Extraction and Reverse Mortgages Affect the Credit Outcomes of Senior Households,” WP 2016-351. The writer notes: “Per this latest research, the biggest takeaways are that reverse mortgage borrowers vary significantly from other extractors in terms of the financial factors that impact their decisions to tap into their home equity. ‘If somebody is having a crisis, they may turn to other forms of liquidity first and credit cards may be one of the things they turn to, to help resolve that crisis,’ Moulton said. ‘But generally, we think credit card debt tends to be higher cost than mortgage debt.’” The story’s comment section gives an interesting glimpse into how industry insiders respond to research.

Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, and Tatjana Schimestock had their 2014 MRRC paper, “Will They Take the Money and Work? An Empirical Analysis of People’s Willingness to Delay Claiming Social Security Benefits for a Lump Sum,” WP 2014-308, published in the November issue of “Journal of Risk and Insurance.”

In December, Mitchell discussed, “Older People’s Willingness to Delay Social Security Claiming,” her 2016 project with Maurer, with Bloomberg news reporter Suzanne Woolley. “One part of any eventual fix [to insolvency], Mitchell figures, will be raising the retirement age to 70 or even 75, from 66 for many people now...She has another proposal for policymakers to consider: Reward people for waiting to claim their share by paying some of their benefits in a lump sum when they finally start taking monthly checks.”

In February, Marco Angrisani, Michael D. Hurd, Erik Meijer, Andrew M. Parker, and Susann Rohwedder had the article “Personality and Employment Transitions at Older Ages: Direct and Indirect Effects through Nonmonetary Job Characteristics” published online in LABOUR. The article draws on Marco Angrisani, Michael Hurd, Erik Meijer, Andrew Parker and Susann Rohwedder’s MRRC working paper, “Labor Force Transition at Older Ages: the Roles of Work Environment and Personality,” WP 2013-395.