Past research has shown that income from the Social Security program has contributed to trends towards smaller households, greater residential independence - the tendency to live alone rather than with others - and a greater prevalence of home ownership late in life. However, the mechanism...

Longevity risk, which is typically portrayed as the problem of people outliving their assets, can be viewed as both an aggregate and an individual-level issue. A related issue is that of ‘active life,' an individual-level phenomenon, or ‘active life expectancy' (ALE), an aggregate...