Hurst, Erik (contributor); Willen, Paul (contributor) - 2004
of households and, for disciplined households, to significant increases in consumption
and saving and reductions in debt.
Keywords:
JEL Classifications:
Erik Hurst is an Associate Professor of Economics … at the University of Chicago’s Graduate School of
Business and a research fellow at the NBER. Paul Willen is a Senior Economist at the Federal Reserve
Bank …, and the NBER Summer Institute Social Security Working Group for helpful comments and
suggestions. Both authors gratefully acknowledge research support from the Graduate School of
Business …