John Bailey Jones
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View article: Why Do Couples and Singles Save during Retirement? Household Heterogeneity and Its Aggregate Implications
Why Do Couples and Singles Save during Retirement? Household Heterogeneity and Its Aggregate Implications Open
We estimate a model of savings for retired couples and singles who face longevity and medical expense risks and in which couples can leave bequests both when the first spouse dies and when the last spouse dies. We show that saving motives …
View article: Medical Spending Risk among Retired Households by Race
Medical Spending Risk among Retired Households by Race Open
Using data from the Health and Retirement Study linked to administrative Medicare and Medicaid records, along with the Medical Expenditure Panel Survey, we examine how total and out-of-pocket medical expenditures by retired households vary…
View article: Why Do Retired Households Draw Down Their Wealth So Slowly?
Why Do Retired Households Draw Down Their Wealth So Slowly? Open
Retired households, especially those with high lifetime income, decumulate their wealth very slowly, and many die leaving large estates. The three leading explanations for the “retirement savings puzzle” are the desire to insure against un…
View article: Insurance Purchases of Older Americans
Insurance Purchases of Older Americans Open
Using data from the Health and Retirement Study (HRS) matched to administrative Medicare and Medicaid records, and the Medical Expenditure Panel Survey (MEPS), we estimate the determinants of Medigap insurance purchases of older Americans.…
View article: Savings after retirement
Savings after retirement Open
Retired households, especially those with high lifetime income, decumulate their wealth very slowly, and many die leaving large estates. The three leading explanations for the 'retirement savings puzzle' are the desire to insure against un…
View article: How Redistributive Are Public Health Care Schemes? Evidence from Medicare and Medicaid in Old Age
How Redistributive Are Public Health Care Schemes? Evidence from Medicare and Medicaid in Old Age Open
Most health care for the U.S. population 65 and older is publicly provided through Medicare and Medicaid. Despite the massive expenditures of these systems, little is known about how redistributive they are. Using data from the Health and …
View article: On the Distribution and Dynamics of Medical Expenditure Among the Elderly
On the Distribution and Dynamics of Medical Expenditure Among the Elderly Open
Using data from the Health and Retirement Study linked to administrative Medicare and Medicaid records along with the Medical Expenditure Panel Survey, we estimate the stochastic process for total and out-of-pocket medical spending. By foc…
View article: Incarceration, Earnings, and Race
Incarceration, Earnings, and Race Open
We study the implications of incarceration for the earnings and employment of different groups, characterized by their race, gender, and education.Our hidden Markov model distinguishes between first-time and repeat incarceration, along wit…
View article: Why do couples and singles save during retirement?
Why do couples and singles save during retirement? Open
While the savings of retired singles tend to fall with age, those of retired couples tend to rise. We estimate a rich model of retired singles and couples with bequest motives and uncertain longevity and medical expenses. Our estimates imp…
View article: Why Do Couples and Singles Save During Retirement?
Why Do Couples and Singles Save During Retirement? Open
While the savings of retired singles tend to fall with age, those of retired couples tend to rise. We estimate a rich model of retired singles and couples with bequest motives and uncertain longevity and medical expenses. Our estimates imp…
View article: Why Do Couples and Singles Save during Retirement? Household Heterogeneity and its Aggregate Implications
Why Do Couples and Singles Save during Retirement? Household Heterogeneity and its Aggregate Implications Open
We estimate a model of savings for retired couples and singles who face longevity and medical expense risks, and in which couples can leave bequests both when the first and last spouse dies. We show that saving motives vary by marital stat…
View article: An Estimated Structural Model of Entrepreneurial Behavior
An Estimated Structural Model of Entrepreneurial Behavior Open
Using a rich panel of owner-operated New York dairy farms, we provide new evidence on entrepreneurial behavior. We formulate a dynamic model of farms facing uninsured risks and financial constraints. Farmers derive nonpecuniary benefits fr…
View article: Medical Spending, Bequests, and Asset Dynamics Around the Time of Death
Medical Spending, Bequests, and Asset Dynamics Around the Time of Death Open
Using data from the Health and Retirement Survey, we document the changes in assets that occur before a person's death.Applying an event study approach, we find that during the 6 years preceding their deaths, the assets of single decedents…
View article: The Lifetime Medical Spending of Retirees
The Lifetime Medical Spending of Retirees Open
Retirees face considerable medical expenses during their remaining lives. Model simulations suggest that although a large amount of that spending can be predicted ? based on attributes such as income, health, and marital status ? there rem…
View article: The Lifetime Medical Spending of Retirees
The Lifetime Medical Spending of Retirees Open
Using dynamic models of health, mortality, and out-of-pocket medical spending (both inclusive and net of Medicaid payments), we estimate the distribution of lifetime medical spending that retired US households face over the remainder of th…
View article: An Estimated Structural Model of Entrepreneurial Behavior
An Estimated Structural Model of Entrepreneurial Behavior Open
Using a rich panel of owner-operated New York dairy farms, we provide new evidence on entrepreneurial behavior. We formulate a dynamic model of farms facing uninsured risks and financial constraints. Farmers derive nonpecuniary benefits fr…
View article: Medical Spending of the US Elderly
Medical Spending of the US Elderly Open
We use data from the Medicare Current Beneficiary Survey (MCBS) to document the medical spending of Americans aged 65 and older. We find that medical expenses more than double between ages 70 and 90 and that they are very concentrated: the…
View article: Replication data for: Medicaid Insurance in Old Age
Replication data for: Medicaid Insurance in Old Age Open
The old age provisions of the Medicaid program were designed to insure retirees against medical expenses. We estimate a structural model of savings and medical spending and use it to compute the distribution of lifetime Medicaid transfers …
View article: Couples' and Singles’ Savings After Retirement
Couples' and Singles’ Savings After Retirement Open
We model the saving problem of retired couples and singles facing uncertain longevity and medical expenses in presence of means-tested social insurance. Households can save to self-insure against uncertain longevity and medical expenses, a…
View article: Medical Spending of the U.S. Elderly
Medical Spending of the U.S. Elderly Open
We use data from the Medicare Current Beneficiary Survey (MCBS) to document the medical spending of Americans aged 65 and older.We find that medical expenses more than double between ages 70 and 90 and that they are very concentrated: the …