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Abstract Objectives: This paper employs new data on the consumption and assets of older Americans to investigate recent research findings that older adults do not convert their home equity into income that can be used for current consumption, as the life-cycle hypothesis predicts. Methods: We use data over twenty years from the Consumer Expenditure Survey…
Social Security and the Stock Market: How the Pursuit of Market Magic Shapes the System appeals to anyone looking for answers to the financing problems facing Social Security and the U.S. retirement income system. By reviewing the experience of the U.K., Australia, and Canada, Alicia H. Munnell and Steven A. Sass examine the three main…
