The Limited Power of Socioeconomic Status to Predict Longevity: Implications for Pension Policy
(2020) , 36 pages
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- Abstract
- Differences of life expectancy across socioeconomic status are well-documented and many economists argue that they should be taken into account when designing pension systems. This paper analyses the relevance of using socioeconomic characteristics to differentiate retirement age. Using US mortality rate assembled by Chetty et al. (2016), we simulate the longevity distribution both across and within socioeconomic status. Then, we analyze the power of socioeconomic status to predict individuals' longevity. Results suggest that socioeconomic status has relatively limited predictive power, due to the huge within status longevity variance.
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Citations
Baurin, A. (2020). The Limited Power of Socioeconomic Status to Predict Longevity: Implications for Pension Policy (IRES Discussion Papers 2020019). https://hdl.handle.net/2078.5/98182