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9780631226154

The Economics of an Aging Society

by ; ; ; ;
  • ISBN13:

    9780631226154

  • ISBN10:

    063122615X

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2004-02-13
  • Publisher: Wiley-Blackwell
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Summary

Written by leading thinkers in the field, this text provides an in-depth analysis of the economic and policy issues associated with the aging of individuals and populations. With a strong policy focus based on demographic and economic study, this book focuses on "who gets what" from current and proposed government programs that impact on older persons, and how these affect individual behaviour. It does so in a straightforward manner that is accessible to readers with a range of mathematical backgrounds. The discussion concentrates on: bull; bull;the effects of aging populations on the United States and other nations; bull;the economic wellbeing of the elderly, highlighting women and minorities; bull;public and private programs providing income for the elderly; bull;Medicare, Medicaid, and private health insurance; bull;Social Security and Medicare reform options; bull;employer-based retirement programs and pensions; bull;retirement patterns and factors influencing retirement decisions. The authors draw from the experiences of other countries in evaluating the US experience and options. Additionally, each chapter engages the reader through practical examples and stimulates further investigation by providing practice questions with relevant website addresses.

Author Biography

Robert L. Clark is Professor of Economics at North Carolina State University.

Richard V. Burkhauser is the Sarah Gibson Blanding Professor of Policy Analysis and Chair of the Department of Policy Analysis and Management in the College of Human Ecology, Cornell University.

Marilyn Moon is Vice President and Director of Health at the American Institutes for Research.

Joseph F. Quinn is Dean of the College of Arts and Sciences at Boston College.Timothy M. Smeeding is Maxwell Professor of Public Policy and Professor of Economics and Public Policy at Syracuse University.

Table of Contents

List of figures ix
List of tables xi
Acknowledgments xiii
1 INTRODUCTION 1(8)
Why Write a Book on the Economics of Aging?
1(2)
How This Book Can Help You
3(2)
The Range of Issues Covered
5(4)
PART I POPULATION AGING AND THE INCOME OF THE ELDERLY 9(76)
2 THE GRAYING OF AMERICA AND THE WORLD
11(23)
Introduction
12(1)
Population Mathematics
13(5)
Improving Life Expectancy in America
18(11)
International Aging
29(1)
Population Aging: Good News or Bad?
30(1)
Discussion Questions
31(1)
References
32(2)
3 THE ECONOMIC WELL-BEING OF OLDER AMERICANS
34(47)
Introduction
36(1)
The Measurement of Economic Well-Being
37(1)
Sources and Shares of Income of the Elderly
38(6)
Income of the Elderly
44(5)
Poverty among the Elderly
49(2)
Diversity among the Elderly
51(3)
The Sensitivity of Income and Poverty Measures to Alternative Measurement Assumptions
54(3)
The Sensitivity of Policy Outcomes to Poverty Measurement Assumptions
57(6)
Inclusion of In-Kind Benefits
63(5)
A Policy Comparison: How Older People Fared During the Growth Years of the 1980's
68(3)
Wealth among the Elderly
71(7)
A Population at Risk?
78(2)
Conclusion
80(1)
Discussion Questions
81(1)
Notes
82(1)
References
83(2)
PART II RETIREMENT PLANNING AND POLICIES 85(82)
4 ECONOMICS OF RETIREMENT AND OLD AGE
81(30)
Introduction
89(1)
Basic Economics and Retirement Savings Economics
89(4)
Economic Models
93(5)
Life Cycle Model
98(6)
Role of the Public Sector
104(4)
Program Interactions, Societal Aging, and the Limits of Public Versus Private Responsibility
108(1)
Discussion Questions
109(1)
Notes
109(1)
References
110(1)
5 WORK AND RETIREMENT
111(24)
Introduction
112(1)
Determinants of Retirement
112(5)
Trends in Labor Force Participation among Older Americans
117(8)
Why the Change in Retirement Patterns?
125(3)
How do Older Americans Leave the Labor Force?
128(1)
International Patterns of Retirement
129(3)
Conclusion
132(1)
Discussion Questions
132(1)
Note
133(1)
References
133(2)
6 RETIREMENT POLICIES AND PENSION PLANS
135(34)
Introduction
137(1)
Pension Economics
137(1)
Types of Pension Plans
138(7)
Benefit Accruals
145(3)
Pensions and Worker Behavior: Empirical Evidence
148(1)
Development of Pensions in the United States
148(3)
Changing Universe of Pension Plans
151(3)
Government Regulation of Private Pensions
154(2)
Other Retirement Policies
156(4)
Discussion Questions
160(1)
Notes
160(4)
References
164(3)
PART III SOCIAL SECURITY PROGRAMS AND REFORMS 167(102)
7 SOCIAL SECURITY BENEFITS AND PROGRAM OBJECTIVES: AN INDIVIDUAL PERSPECTIVE
169(34)
Introduction
171(1)
How Old-Age, Survivors, and Disability Insurance Works
171(7)
What are the Policy Objectives of the OASDI Tax and Benefit Structure?
178(3)
Trends in Social Welfare Spending in the United States
181(2)
Disentangling the Insurance and Redistributive Components of Social Security
183(7)
Evaluating Social Security Policies
190(9)
Conclusion
199(1)
Discussion Questions
199(2)
Notes
201(1)
References
201(2)
8 SOCIAL SECURITY FINANCING AND REFORM ISSUES
203(28)
Introduction
205(1)
Fully Funded vs. Pay-As-You-Go Systems
205(3)
Social Security Finances
208(3)
Proposed Solutions to the Long-Term Financing of OASI
211(4)
Some Specific Reform Proposals
215(8)
Criteria for Social Security Reform
223(5)
Conclusion
228(3)
Discussion Questions
231(1)
Notes
231(4)
References
235
9 DISABILITY POLICY
231(38)
Introduction
239(1)
How Social Security Disability Insurance (SSDI) Works
240(4)
A Brief History of SSDI Policy
244(3)
How Supplemental Security Income (SSI) Works
247(2)
A Brief History of SSI Policy
249(2)
Program Participation and Work Incentives of SSI and SSDI
251(6)
Trends in Employment Rates and Benefit Caseloads for People with Disabilities
257(3)
Disability Policy Trade-Offs
260(2)
Conclusion
262(3)
Discussion Questions
265(1)
Notes
266(1)
References
267(2)
PART IV HEALTH AND LONG-TERM CARE FOR OLDER PERSONS 269(75)
10 THE FINANCING AND DELIVERY OF ACUTE HEALTH CARE SERVICES
211(105)
Introduction
273(1)
Special Concerns Regarding Health Care and the Elderly
273(7)
The Basics of Medicare
280(4)
Supplemental Coverage for Acute Care
284(4)
Problems with and Strengths of the Medicare System
288(12)
Reform Options to Improve Beneficiary Protections
300(1)
Reform Options to Reduce Medicare Costs
301(7)
Prospects for the Future
308(1)
Conclusion
308(1)
Discussion Questions
309(1)
Notes
309(1)
References
310(6)
11 ADDITIONAL HEALTH ISSUES: LONG-TERM CARE
316(28)
Introduction
318(1)
Defining Long-term Care
319(4)
The Current Long-term Care "System"
323(6)
Problems with the Current System
329(5)
Approaches to Improve Coverage and Meet Other Needs
334(6)
Conclusion
340(1)
Discussion Questions
341(1)
Notes
341(1)
References
342(2)
Index 344

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