How do the risks of living long and facing high medical expenses affect the elderly’s saving behavior?
Abstract: This article shows that the elderly, especially those with high lifetime incomes, maintain large asset holdings to account for the possibility of their living a long time and facing high medical expenses.
File(s): File format is application/pdf http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2012/cfljanuary2012_294.pdf
Provider: Federal Reserve Bank of Chicago
Part of Series: Chicago Fed Letter
Order Number: 294