Joseph Briggs

TL;DR: In this paper, health-dependent utility is introduced into a model with incomplete markets in which pre-existing wealth holders spend down assets much more slowly than predicted by classic life-cycle models.

TL;DR: This paper introduced health-dependent utility into a model in which preferences for bequests, expenditures when in need of long-term care (LTC), and ordinary consumption combine with health and longevity uncertainty to explain saving behavior.

TL;DR: The Distributional Financial Accounts (DFAs) as mentioned in this paper is a new dataset containing quarterly estimates of the distribution of U.S. household wealth since 1989, and provides the first look at the resulting data.

TL;DR: The authors found that older Americans have strong willingness to work, especially in jobs with flexible schedules, and that demand-side factors are important in explaining late-in-life labor market behavior and need to be considered in designing policies aimed at promoting working longer.

TL;DR: In this paper, the authors exploit the randomized assignment of lottery prizes in a large administrative Swedish data set to estimate the causal effect of wealth on stock market participation, finding that a $150,000 windfall gain increases the stock market participant probability by 12 percentage points among non-participants but has no discernible effect on pre-lottery stock owners.