Tag: Great Recession
Abstract The paper uses micro-survey data from successive waves of the Panel Study on Income Dynamics to investigate the distribution of wealth and job losses during the 2007-09 recession for different segments of the population and the effect of the recession on the retirement decisions of older workers. Estimates of wealth losses are constructed for…
When the stock market tumbled almost 5 percent in early August, thoughts hearkened back to the market collapse when equity prices fell 57 percent from October 9, 2007 to March 9, 2009. Much of the losses in equity values occurred in 401(k)s and IRAs held by Early Boomers approaching retirement. Those already retired were mor…