Asset rundown after retirement: the importance of rate of return shocks

The authors provide evidence that households run down their assets after retirement by tracking a group of elderly households over the 1996–2004 period. They find that assets decline for these households approaching the end of the life cycle. Had there not been a run-up in asset prices due in large part to a historically remarkable rise in housing prices, assets would have declined even faster.

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Year of publication:	2007
Authors:	Baker, Olesya ; Doctor, Phil ; French, Eric
Published in:	Economic Perspectives. - Federal Reserve Bank of Chicago. - 2007, Q II, v. 31, no.2, p. 48-65
Publisher:	Federal Reserve Bank of Chicago
Subject:	Retirement \| Investments \| Business cycles

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

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