Lifecycle Events and Their Consequences: Job Loss, Family Change, and Declines in Health - Hardcover

Hardcover

ISBN 10: 0804785856 ISBN 13: 9780804785853

Verlag: Stanford University Press, 2013

Inhaltsangabe

In Lifecycle Events and Their Consequences: Job Loss, Family Change, and Declines in Health, editors Kenneth A. Couch, Mary C. Daly, and Julie Zissimopoulos bring together leading scholars to study the impact of unexpected life course events on economic welfare. The contributions in this volume explore how job loss, the onset of health limitations, and changes in household structure can have a pronounced influence on individual and household well-being across the life course. Although these events are typically studied in isolation, they frequently co-occur or are otherwise interrelated. This book provides a systematic empirical overview of these sometimes uncertain events and their impact. By placing them in a unified analytical framework and approaching each of them from a similar perspective, Lifecycle Events and Their Consequences illustrates the importance of a coherent approach to thinking about the inter-relationships among these shifts. Finally, this volume aims to set the future research agenda in this important area.

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Über die Autorinnen und Autoren

Kenneth A. Couch is Professor of Economics at the University of Connecticut. Mary C. Daly is Group Vice President and the Associate Director of Research at the Federal Reserve Bank in San Francisco. Julie M. Zissimopoulos is Associate Professor at the University of Southern California and Associate Director of the Schaeffer Center for Health Policy and Economics.

Kenneth A. Couch is Professor of Economics at the University of Connecticut.Mary C. Daly is Group Vice President and the Associate Director of Research at the Federal Reserve Bank in San Francisco.Julie M. Zissimopoulos is Associate Professor at the University of Southern California and Associate Director of the Schaeffer Center for Health Policy and Economics.

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LIFECYCLE EVENTS AND THEIR CONSEQUENCES

Job Loss, Family Change, and Declines in Health

By Kenneth A. Couch, Mary C. Daly, Julie M. Zissimopoulos

Stanford University Press

Copyright © 2013 Board of Trustees of the Leland Stanford Junior University
All rights reserved.

ISBN: 978-0-8047-8585-3

Contents

Contributors...............................................................
ix
CHAPTER ONE Introduction Kenneth A. Couch, Mary C. Daly, and Julie M. 
Zissimopoulos..............................................................
1
PART I Job Loss............................................................
CHAPTER TWO Job Loss: Historical Perspective from the Displaced Workers 
Survey, 1984–2010 Henry S. Farber.........................................
11
CHAPTER THREE The Effect of Job Displacement on Cumulated Years Worked 
Till von Wachter, Jae Song, and Joyce Manchester...........................
34
CHAPTER FOUR Effects of Late-Life Job Loss on Wealth and Labor Supply 
Ann H. Stevens and Jeremy G. Moulton.......................................
57
CHAPTER FIVE Involuntary Job Transitions and Subjective Well-Being Ariel 
Kalil and Thomas DeLeire...................................................
76
CHAPTER SIX Job Loss: A Discussion Michael D. Hurd.......................
97
PART II Family Change......................................................
CHAPTER SEVEN Marriage Timing, Motherhood Timing, and Women's Well-Being 
in Retirement Amalia R. Miller............................................
109
CHAPTER EIGHT Divorce, Women's Earnings, and Retirement over the Life 
Course Kenneth A. Couch, Christopher R. Tamborini, Gayle L. Reznik, and 
John W. R. Phillips........................................................
133
CHAPTER NINE Marriage and Wealth Changes at Older Ages Julie M. 
Zissimopoulos..............................................................
158
CHAPTER TEN Family Structure and Financial Well-Being: Evidence from the 
Great Recession Juyeon Kim and Linda J. Waite.............................
178
CHAPTER ELEVEN Family Structure Change: A Discussion Robert J. Willis....
202
PART III Declines in Health................................................
CHAPTER TWELVE Measuring the Population with Disabilities for Policy 
Analysis Richard V. Burkhauser, Andrew J. Houtenville, and Jennifer R. 
Tennant....................................................................
215
CHAPTER THIRTEEN The Economic Consequences of Disability: Evidence from 
the PSID Bruce D. Meyer and Wallace K. C. Mok.............................
240
CHAPTER FOURTEEN Health and Wealth in Early Retirement Geoffrey L. 
Wallace, Robert Haveman, Karen Holden, and Barbara Wolfe...................
260
CHAPTER FIFTEEN Disability and Subjective Well-Being Mary C. Daly and 
Colin S. Gardiner..........................................................
280
CHAPTER SIXTEEN Health Shocks: A Discussion Robert Haveman...............
301
Index......................................................................
311

CHAPTER 1

Introduction

Kenneth A. Couch, Mary C. Daly,and Julie M. Zissimopoulos

Negative events in peoples' lives can have profound effects on their lifecycleoutcomes. Events such as job loss, changes in family structure, anddeclines in health can reduce individuals' economic and noneconomicwell-being, leaving them permanently worse off than they were beforethe event, unable to regain their prior standing. The impact of theseshocks may not be limited to the individuals affected but can spill overto families and even to future generations, when children in affectedhouseholds have limited access to economic and emotional resources.

Understanding and documenting the impact of these commonlyencountered negative events is the focus of this book. Although theliterature on these topics is extensive, there have been few comprehensiveexaminations that bring together complementary interdisciplinaryanalyses on a range of negative lifecycle shocks. This book begins to fillthe gap with a collection of chapters authored by leading researchers ineconomics, demography, and sociology, all focused on three commonlifecycle events: involuntary job loss, changes in family structure, anddeclines in health or functioning.

A key contribution of the book is the construction of a researchframework that facilitates comparisons across various types of shocks.It is built around a set of key questions that are important for evaluatingthe individual and social costs of any lifecycle event. The questions are:

1. How likely are individuals to experience the event?

2. What are the short-term economic impacts?

3. What are the long-term economic impacts?

4. What are the noneconomic impacts?

For each of the lifecycle events studied, a chapter in the book examinesone or more of these key questions. This structure gives readers the abilityto compare these events in terms of the portion of the population affectedas well as the short- and long-term impact of these events on economicand noneconomic well-being. By addressing these four basic questions,the chapters in this volume provide a foundation for those interested inpursuing multidisciplinary research on one or all of these topics.

A second contribution of the book is the studies themselves, whichprovide excellent introductions to researchers and policymakers interestedin the consequences of lifecycle events. The collected chapters alsoshowcase the range of analysis being done by top academics and highlightsome of the emerging public data sources and statistical techniquesavailable to researchers interested in these issues. For example, severalof the papers draw on cross-sectional surveys that allow researchers todocument the importance of each type of risk in the population at a pointin time. Other chapters rely on data drawn from panel surveys that collectinformation on the same person over time, allowing researchers toanalyze the long-term impact of lifecycle disruptions on well-being. Stillothers use panel surveys linked to administrative records from governmentprograms that have only recently become available to researchers.The linkage of traditional survey information with administrative recordscollected by government agencies builds on the strengths of eachsource of information. The administrative records contain valuable information,such as the annual earnings of individuals, as well as privateand public retirement benefits untainted by the measurement error thatis common in self-reported data. The surveys contain information ondemographics and other life details not available in the administrativerecords. Using these combined data sources, researchers can accuratelytrack the impact that a variety of events have on people's lives over longperiods.

Of course there are many subjects the book does not address that bearnoting. A number of negative shocks are not examined by the authors.As noted earlier, the book focuses on the three highly prevalent eventsassociated...

Details zur Ausgabe

• Verlag: Stanford University Press
• Erscheinungsdatum: 2013
• Sprache: Englisch
• ISBN 10: 0804785856
• ISBN 13: 9780804785853
• Einband: Gebundene Ausgabe
• Anzahl der Seiten: 340
• Herausgeber: Couch Kenneth A., Daly Mary C., Zissimopoulos Julie M.
• Kontakt zum Hersteller: Mare Nostrum Group B.V.; gpsr@mare-nostrum.co.uk; ; Doelen 72; Breda; 4831 GR; Niederlande