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Is There an American Way of Aging?: Income Dynamics of the Elderly in the US and Germany

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  • Thomas L. Hungerford

Abstract

This study examines income dynamics during individuals' first 12 years of retirement. Two questions are asked: (1) Are the economic experiences of the elderly in the United States unique, or are they similar to those of the elderly in Germany? and (2) What is the role of Social Security in shaping these economic experiences? The results show major differences in the experiences of retired individuals as they age in the respective countries. Retired Germans generally maintain their accustomed living standards, whereas retired Americans experience a declining standard of living.

Suggested Citation

  • Thomas L. Hungerford, 2002. "Is There an American Way of Aging?: Income Dynamics of the Elderly in the US and Germany," Economics Working Paper Archive wp_365, Levy Economics Institute.
    • Handle: RePEc:lev:wrkpap:wp_365
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    References listed on IDEAS

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    1. David A. Wise, 1990. "Issues in the Economics of Aging," NBER Books, National Bureau of Economic Research, Inc, number wise90-1.
    2. Stephen E. Snyder & William N. Evans, 2002. "The Impact of Income on Mortality: Evidence from the Social Security Notch," NBER Working Papers 9197, National Bureau of Economic Research, Inc.
    3. Axel Borsch-Supan & Reinhold Schnabel, 1999. "Social Security and Retirement in Germany," NBER Chapters, in: Social Security and Retirement around the World, pages 135-180, National Bureau of Economic Research, Inc.
    4. David A. Wise, 1994. "Studies in the Economics of Aging," NBER Books, National Bureau of Economic Research, Inc, number wise94-1.
    5. David T. Ellwood & Thomas J. Kane, 1990. "The American Way of Aging: An Event History Analysis," NBER Chapters, in: Issues in the Economics of Aging, pages 121-148, National Bureau of Economic Research, Inc.
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    Cited by:

    1. James Williamson & Timothy Smeeding, 2004. "Sliding into Poverty? Cross-National Patterns of Income Source Change and Income Decay in Old Age," LIS Working papers 388, LIS Cross-National Data Center in Luxembourg.

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