TY  - JOUR
AU  - Nardi,Mariacristina De
AU  - French,Eric
AU  - Jones,John Bailey
TI  - Life Expectancy and Old Age Savings
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 14653
PY  - 2009
Y2  - January 2009
UR  - http://www.nber.org/papers/w14653
L1  - http://www.nber.org/papers/w14653.pdf
N1  - Author contact info:
Mariacristina De Nardi
Federal Reserve Bank of Chicago
230 South LaSalle St.
Chicago, IL 60604
Tel: 312/322-5769
Fax: 312/322-2357
E-Mail: denardim@nber.org

Eric French
Research Department
Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, IL  60604
E-Mail: efrench@frbchi.org

John Bailey Jones
Department of Economics
BA-113B
University at Albany
State University of New York
Albany, NY 12222
Tel: 518/442-4926
E-Mail: jbjones@albany.edu
AB  - Rich people, women, and healthy people live longer. We document that this heterogeneity in life expectancy is large, and we use an estimated structural model to assess its effect on the elderly's saving. We find that the differences in life expectancy related to observable factors such as income, gender, and health have large effects on savings, and that these factors contribute by similar amounts. We also show that the risk of outliving one's expected lifespan has a large effect on the elderly's saving behavior.
ER  -