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For over a decade, the National Bureau of Economic Research has sponsored the Economics of Aging Program, under the direction of David A. Wise. The program addresses issues that affect the well-being of individuals as they age and a society that is composed increasingly of older people.

Within the next twenty years, an unprecedented proportion of Americans will be over sixty-five. New research in the economics of aging is an essential element of understanding what the future holds for this aging population. Inquiries in the Economics of Aging presents both empirical papers that consider questions that are fundamental to public policy and more theoretical contributions that lay new groundwork for future research in the economics of aging.

Inquiries in the Economics of Aging provides a timely overview of some of the most important questions facing researchers on aging and outlines new techniques and models that may help to answer these questions. This important volume will be of great interest to specialists and policy makers as it paves the way for future analysis.

The fraction of the population over age sixty-five in many developed countries is projected to rise, in some cases sharply, in coming decades. This has drawn growing interest to research on the health and economic circumstances of individuals as they age. Many individuals are retiring from paid work, yet they are living longer than ever. Their well-being is shaped by their past decisions such as their saving behavior, as well as by current and future economic conditions, health status, medical innovations, and a rapidly evolving landscape of policy incentives and supports.
The contributions to Insights in the Economics of Aging uncover how financial, physical, and emotional well-being are integrally related. The authors consider the interactions between financial circumstances in later life, such as household savings and home ownership, physical circumstances such as health and disability, and emotional well-being, including happiness and mental health.

One of the most well-established relationships in the economics of aging is that between health and wealth. Yet this relationship is also changing in conjunction with a rapidly aging population as well as a broad evolution in how people live later in life.

Building on findings from earlier editions in this National Bureau of Economic Research series, Investigations in the Economics of Aging focuses on the changing financial circumstances of the elderly and the relationship of these circumstances to health and health care. Among the topics addressed are the significance of out-of-pocket health care costs, the effects of inflation on social security, and the impact of the recent financial crisis on Americans’ well-being. Encompassing new data and advances in research methodology, the developments presented in this volume will have important implications for economies worldwide.

This companion volume to The Economics of Aging (1989) examines the economic consequences of an increasingly older population, focusing on the housing and living arrangements of the elderly, as well as their labor force participation and retirement.