The saving patterns of retired US households pose a challenge to the basic life-cycle model
of saving. The observed patterns of out-of-pocket medical expenses, which rise quickly with …

The degree to which retirement decisions are driven by health is a key concern for both
academics and policy makers. In this review, we survey the economic literature on the health …

Household financial decisions are complex, interdependent, and heterogeneous, and
central to the functioning of the financial system. We present an overview of the rapidly …

In a life-cycle model, a retiree faces stochastic health depreciation and chooses
consumption, health expenditure, and the allocation of wealth between bonds, stocks, and …

Do wealth shocks affect the health of elderly in developed countries? I exploit the booms
and busts in the US stock market as a natural experiment that generated considerable gains …

I develop a search‐and‐bargaining model of endogenous intermediation in over‐the‐
counter markets. Unlike the existing work, my model allows for rich investor heterogeneity in …

Motivated by the observation that medical care explains only a relatively small part of the
socio-economic status (SES)-health gradient, we present a life-cycle model that incorporates …

We examine the relationship between income and health with the purpose of establishing
the extent to which the distribution of health in a population contributes to income inequality …

We develop a pair of risk measures, health and mortality delta, for the universe of life and
health insurance products. A life‐cycle model of insurance choice simplifies to replicating …

Estimates of how health affects employment vary considerably. We assess how different
methods and health measures impact estimates of the impact of health on employment …