Maintaining one’s living standard at old age: What does that mean?

Dudel, Christian; Ott, Notburga; Werding, Martin

doi:10.1007/s00181-015-1042-8

Cited by 11 publications

(9 citation statements)

References 26 publications

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“…Random effects are at the level of individuals, and each individual can contribute several observations. Although health satisfaction is measured on an ordinal scale, linear models are usually found to give results that are similar to those of discrete choice models, and that are easier to interpret (Dudel et al, 2016, Ferrer-i-Carbonell and Frijters, 2004). Alternative models are used as robustness checks (see details in the supplementary materials).…”

Section: Datamentioning

confidence: 99%

Trends in gender differences in health at working ages among West and East Germans

Kühn

Dudel

Vogt

et al. 2019

SSM - Population Health

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Before 1990, Germany was divided for more than 40 years. While divided, significant mortality disparities between the populations of East and West Germany emerged. In the years following reunification, East German mortality improved considerably, eventually converging with West German levels. In this study, we explore changes in the gender differences in health at ages 20–59 across the eastern and western regions of Germany using data from the German Socio-Economic Panel (SOEP) for the 1990–2013 period. We apply random-effects linear regressions to the SOEP data to identify trends in health, measured as self-assessed health satisfaction, after German reunification.The findings indicate that women were substantially less satisfied with their health than men in both West and East Germany, but that the gender gap was larger in East Germany than in West Germany. Furthermore, the results show that respondents’ satisfaction with their health decreased over time, and that the decline was steeper among men – and particularly among East German men – than among women. Thus, the initial male advantage in health in East and West Germany in the years immediately after reunification diminished over time, and even reversed to become a female advantage in East Germany. One interpretation of this finding is that stress-inducing post-reunification changes in the political and social landscape of East Germany had lasting damaging consequences for men’s health.Ongoing risky health behaviors and high levels of economic insecurity due to unemployment could have had long-lasting effects on the health of the working-aged population. A partial explanation for our finding that health declined more sharply among East German men than among their female counterparts could be that women have better compensatory mechanisms than men for dealing with psychosocial stress.

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Section: Datamentioning

confidence: 99%

Trends in gender differences in health at working ages among West and East Germans

Kühn

Dudel

Vogt

et al. 2019

SSM - Population Health

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“…Still, it has been argued that replacement rates might depend on age (Knoef et al, 2016;Dudel et al, 2016). On the one hand, older individuals might on average be less active and spend less on goods like leisure or transportation, leading to replacement rates declining with age.…”

Section: Resultsmentioning

confidence: 99%

“…As many of the surveyed individuals were below retirement age (with a median age of between 51 and 52), the results of Binswanger and Schunk (2012) are partly based on the expectations individuals have about their needs in retirement. Dudel et al (2016) also looked at subjective assessments using an approach close to the one presented later in this paper. Based on data on individual satisfaction with household income and applying the equivalence scale framework, they calculated the replacement rate needed to keep an individual's standard of living constant.…”

Section: Related Workmentioning

confidence: 99%

“…Satisfaction with household income differs from the expenditure-based indicators in that it is a subjective measure that is assumed to capture a subjective assessment of household welfare (van Praag, 1991). While satisfaction with household income is a qualitative variable, we follow earlier literature (Ferrer-i-Carbonell and Frijters, 2004;Dudel et al, 2016) and model it in a similar manner as the other welfare indicators; and thus as a quantitative variable.…”

Section: B Replacement Rates Using Gross Incomementioning

confidence: 99%

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Pension adequacy standards: an empirical estimation strategy and results for the United States and Germany

Dudel

Schmied

2019

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Due to increasing life expectancy pension benefits and savings need to last longer, which casts doubt on the financial security of retirees. Surprisingly, what pension benefit level can be considered adequate remains unclear. In this paper, we propose an identification strategy for the estimation of pension adequacy standards. Applying a range of econometric techniques to data from the U.S. and Germany, we find that a net pension income of around 100% of the last net working life income, plus or minus 10 percentage points, can be considered adequate.

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“…It is an interesting question per se how much retirement income would be required to maintain one's living standard at old age, and surprisingly little empirical research has directly dealt with this issue (Dudel et al 2015). 26 However, even though a considerable share of individuals may be myopic, rather than genuine life-cycle savers, public responsibility may be limited in this respect.…”

Section: How Much Pre-funding Is Needed?mentioning

confidence: 99%

One pillar crumbling, the others too short: old-age provision in Germany

Werding

2016

Natl. Inst. econ. rev.

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Public pay-as-you-go pensions still form the dominant pillar of old-age provision in Germany. This is in marked contrast to the situation in Anglo-Saxon countries. It has advantages if labour markets are strong, e.g., following a quick recovery from the Great Recession. It has disadvantages, as Germany will be ageing very rapidly in the near future. Following a series of reforms, benefit levels will decline, while contribution rates still go up, and additional cover from private or occupational pension schemes is urgently needed. Thus far, steps in this direction have been half-hearted, and the financial crisis impedes a further shift. Nevertheless, despite the differing traditions, important aspects in current debates now converge to those discussed in the UK or the US. Terms of use: Documents in EconStor mayJEL-codes: E270, G280, H550, J110, J260.

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Maintaining one’s living standard at old age: What does that mean?

Cited by 11 publications

References 26 publications

Trends in gender differences in health at working ages among West and East Germans

Trends in gender differences in health at working ages among West and East Germans

Pension adequacy standards: an empirical estimation strategy and results for the United States and Germany

One pillar crumbling, the others too short: old-age provision in Germany

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