Edited by David A. Wise

in Perspectives on the Economics of Aging

Published by University of Chicago Press

Published in print July 2004 | ISBN: 9780226903057
Published online February 2013 | e-ISBN: 9780226903286 | DOI:

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This book confirms previous findings that households typically do not withdraw equity from housing to finance general consumption, but such withdrawal is more likely when a spouse dies or enters a nursing home. In addition to discussions of personal retirement plans and home equity, the book considers other aspects of wealth accumulation and compares asset accumulation in the United States and the United Kingdom. The analyses include consideration of the decline in mortality in the United States and the United Kingdom and the relationship between medical care and mortality. The relationship between pension income and health in South Africa also contributes to the understanding of the health-wealth relationship. The book also includes a formal discussion of econometric methodology to determine the direction of causality.

Keywords: households; equity; consumption; retirement plans; wealth accumulation; United States; United Kingdom; mortality; medical care; health

Chapter.  6933 words. 

Subjects: Economics

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