Work Disability, Work, and Justification Bias in Europe and the U.S. (2009)
Kapteyn, Arie, Van Soest, Arthur, Smith, James P.
To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as “do you have an impairment or health problem limiting the kind or...
Kuhn, Peter J, Kooreman, Peter, Soetevent, Adriaan, Kapteyn, Arie
In the Dutch Postcode Lottery a postal code (19 households on average) is randomly selected weekly, and prizes--consisting of cash and a new BMW--are awarded to lottery participants living in that...
Arie Kapteyn, Arie Kapteyn, Rand Corporation
The paper extends and replicates part of the analysis by Barsky, Juster, Kimball, and Shapiro (1997), which exploits hypothetical choices among different consumption streams to infer intertemporal...
The Welfare Loss from Interdependent Preferences (2007)
Peter Kooreman, Lambert Schoonbeek, Marco Haan, Arie Kapteyn
Interdependent preferences generally imply Pareto inefficiency. For a general demand system, we characterize Pareto improvements, as well as the taxes and subsidies that reduce the welfare loss from...
Characterizing Pareto Improvements in (2007)
An Interdependent Demand, Peter Kooreman, Lambert Schoonbeek, Marco Haan, Arie Kapteyn, Tom Wansbeek
Interdependent preferences generally imply Pareto ine#ciency. For a general demand system, we provide a characterization of Pareto improvements.
Kapteyn, Arie, Smith, James P., Van Soest, Arthur, Banks, James
Many western industrialized countries face strong budgetary pressures due to the aging of the baby boom generations and the general trends toward earlier ages of retirement. The commonality of these...
Savings, Portfolio Choice, and Retirement Expectations. (2006)
Van Soest, Arthur, Kapteyn, Arie
Studying household investment behavior is essential for understanding the full consequences of old age social security benefits. Using data from six waves of the Health and Retirement Study, we...
Dynamics of work disability and pain (2006)
Kapteyn, Arie, Smith, James P., Soest, Arthur Van
This paper investigates the role of pain in affecting self-reported work disability and employment of elderly workers in the US. We investigate pain and its relationship to work disability and work...
Financial Literacy and Planning: Implications for Retirement Wellbeing.” Working paper (2005)
Gary Engelhardt, Alan Gustman, Mike Hurd, Arie Kapteyn, Mauro Mastrogiacomo, Annamaria Lusardi, ...
Comments welcome The research reported herein was pursuant to a grant from the US Social Security
International Comparisons of Work Disability (2004)
Banks, James, Kapteyn, Arie, Smith, James P, Van Soest, Arthur
Self-reported work disability is analyzed in the US, the UK and the Netherlands. Different wordings of the questions lead to different work disability rates. But even if identical questions are...
Explaining the Wealth Holdings of Different Cohorts: Productivity Growth and Social Security (2003)
Kapteyn, Arie, Alessie, R., Lusardi, Annamaria
It is well-known that individuals born in different periods of time (cohorts or generations) exhibit different wealth accumulation paths. While previous studies have used cohort dummies to proxy for...
The estimation of utility consistent labor supply models by means of simulated scores (2003)
We consider a utility consistent static labor supply model with flexible preferences, a non-linear and possibly non-convex budget set, and a wage equation. Three stochastic error terms are introduced...
Subjective Measures of Risk Aversion and Portfolio Choice (2002)
The RAND unrestricted draft series is intended to transmit preliminary results of RAND research. Unrestricted drafts have not been formally reviewed or edited. The views and conclusions expressed are...
Explaining the wealth holdings of different cohorts : Productivity growth ans social security (2000)
Explaining the wealth holdings of different cohorts : Productivity growth ans social security (2000)
Explaining the Wealth Holdings of Different Cohorts: Productivity Growth and Social Security (1999)
Kapteyn, Arie, Alessie, R.J.M., Lusardi, Annamaria
It is well-known that individuals born in different periods of time (cohorts)exhibit different wealth accumulation paths. While previous studies have used cohort dummies to proxy for this fact,...
Explaining the wealth holdings of different cohorts : productivity growth and social security (1999)
Kapteyn, Arie, Alessie, R.J.M.
It is well-known that individuals born in different periods of time (cohorts) exhibit different wealth accumulation paths. While previous studies haveused cohort dummies to proxy for this fact,...
Wealth and savings : data and trends in the Netherlands (1999)
Alessie, R.J.M., Kapteyn, Arie
In this paper we examine trends in the cross-sectional wealth distribution. We use two wealth definitions: net worth and financial wealth. We use datafrom the Socio-Economic Panel, a representative...
Explaining The Wealth Holdings Of Different Cohorts: Productivity Growth And Social Security (1999)
Arie Kapteyn, Rob Alessie, Annamaria Lusardi
It is well-known that individuals born in different periods of time (cohorts) exhibit different wealth accumulation paths. While previous studies have used cohort dummies to proxy for this fact,...
A Class of Decompositions of the Variance-Covariance Matrix of a Generalized Error Components Model.
Using Stated Preferences Data to Analyze Preferences for Full and Partial Retirement
Arthur Van Soest, Arie Kapteyn, Julie Zissimopoulos
Structural models explaining retirement decisions of individuals or households in an inter-temporal setting are typically hard to estimate using data on actual retirement decisions, because choice...
The Size and Composition of Wealth Holdings in the United States, Italy, and the Netherlands
Arie Kapteyn, Constantijn Panis
This paper analyzes retirement saving and portfolio choice in the United States, Italy, and the Netherlands. While these countries enjoy roughly the same standard of living, they vary widely in their...
The estimation of utility consistent labor supply models by means of simulated scores
Bloemen, Hans G., Kapteyn, Arie
We consider a utility consistent static labor supply model with flexible preferences, a non-linear and possibly non-convex budget set, and a wage equation. Three stochastic error terms are introduced...
Arie Kapteyn, Adriaan Kalwij, Asghar Zaidi
Worksharing is considered by many as a promising public policy to reduce unemployment. In this paper we present a review of the most pertinent theoretical and empirical contributions to the...
Effects of Attrition and Non-Response in the Health and Retirement Study
Arie Kapteyn, Pierre-Carl Michaud, James Smith, Arthur Van Soest
We study the effect of attrition and other forms of non-response on the representativity over time of the Health and Retirement Study (HRS) sample born 1931-1941; the sample was initially drawn in...
Dynamics of work disability and pain
Kapteyn, Arie, Smith, James P., Soest, Arthur Van
This paper investigates the role of pain in affecting self-reported work disability and employment of elderly workers in the US. We investigate pain and its relationship to work disability and work...
Latent variable models in econometrics
Aigner, Dennis J., Hsiao, Cheng, Kapteyn, Arie, Wansbeek, Tom, Z. Griliches†, M. D. Intriligator
Reserve Adequacy in Emerging Market Economics
This paper analyzes reserve adequacy in emerging market countries. It argues that the old rule of thumb of maintaining reserves equivalent to three months of imports has become obsolete and that,...
Arie Kapteyn, James Smith, Arthur Van Soest, James Banks
Many western industrialized countries face strong budgetary pressures due to the aging of the baby boom generations and the general trends toward earlier ages of retirement. The commonality of these...
Validating the Use of Vignettes for Subjective Threshold Scales
Arthur Van Soest, Liam Delaney, Colm Harmon, Arie Kapteyn, James P. Smith
Comparing self-assessed indicators of subjective outcomes such as health, work disability, political efficacy, job satisfaction, etc. across countries or socio-economic groups is often hampered by...
Intertemporal Consumption with Directly Measured Welfare Functions and Subjective Expectations
Arie Kapteyn, Kristin J. Kleinjans, Arthur Van Soest
Euler equation estimation of intertemporal consumption models imposes heavy demands on data and identifiability conditions. For example, one typically needs panel data on consumption, assumptions on...
International Comparisons of Work Disability
Banks, James, Kapteyn, Arie, Smith, James P., Van Soest, Arthur
Self-reported work disability is analyzed in the US, the UK and the Netherlands. Different wordings of the questions lead to different work disability rates. But even if identical questions are...
Hypothetical Intertemporal Consumption Choices
The paper extends and replicates part of the analysis by Barsky et al. (1997), which exploits hypothetical choices among different consumption streams to infer intertemporal substitution elasticities...
The authors model (myopic) habit formation, interdependence of preferences among consumers, and demographic effects as taste shifters in a micro consumer demand model of the almost ideal demand...
Evaluation Periods and Asset Prices in a Market Experiment
Uri Gneezy, Arie Kapteyn, Jan Potters
We test whether the frequency of feedback information about the performance of an investment portfolio and the flexibility with which the investor can change the portfolio influence her risk attitude...
Arie Kapteyn, James P. Smith, Arthur Van Soest, James Banks
Many western industrialized countries face strong budgetary pressures due to the aging of the baby boom generations and the general trends toward earlier ages of retirement. The authors use the...
Selection Bias in Web Surveys and the Use of Propensity Scores
Matthias Schonlau, Arthur Van Soest, Arie Kapteyn, Mick P. Couper
Web surveys have several advantages compared to more traditional surveys with in-person interviews, telephone interviews, or mail surveys. Their most obvious potential drawback is that they may not...
Using Stated Preferences Data to Analyze Preferences for Full and Partial Retirement
Arthur Van Soest, Arie Kapteyn, Julie Zissimopoulos
Structural models explaining retirement decisions of individuals or households in an intertemporal setting are typically hard to estimate using data on actual retirement decisions, since choice sets...
Validating the Use of Vignettes for Subjective Threshold Scales
Arthur Van Soest, Liam Delaney, Colm Harmon, Arie Kapteyn, James P. Smith
Comparing self-assessed indicators of subjective outcomes such as health, work disability, political efficacy, job satisfaction, etc. across countries or socio-economic groups is often hampered by...
Matthias Schonlau, Arthur Van Soest, Arie Kapteyn
Inference from Web surveys may be affected by non-random selection of Web survey participants. One approach to reduce selection bias is to use propensity scores and a parallel phone survey. This...
Vignettes and Self-Reports of Work Disability in the United States and the Netherlands
Arie Kapteyn, James P. Smith, Arthur Van Soest
In contrast to the believed similarity in their health outcomes, workers in different Western countries report very different rates of work disability. Using new data from the United States and the...
Kapteyn, Arie, Kalwij, Adriaan S., Zaidi, Asghar
Worksharing is considered by many as a promising public policy to reduce unemployment. In this paper we present a review of the most pertinent theoretical and empirical contributions to the...
Dynamics of Work Disability and Pain
Arie Kapteyn, James P. Smith, Arthur Van Soest
This paper investigates the role of pain in affecting self-reported work disability and employment of elderly workers in the US. We investigate pain and its relationship to work disability and work...
Explaining the Wealth Holdings of Different Cohorts: Productivity Growth and Social Security
Arie Kapteyn, Rob Alessie, Annamaria Lusardi
It is well-known that individuals born in different periods of time (cohorts) exhibit different wealth accumulation paths. While previous studies have used cohort dummies to proxy for this fact,...
Explaining the wealth holdings of different cohorts : productivity growth and social security
Kapteyn, Arie, Alessie, Rob, Lusardi, Annamaria
It is well-known that individuals born in different periods of time (cohorts) exhibit different wealth accumulation paths. While previous studies have used cohort dummies to proxy for this fact,...
Wealth and savings : data and trends in the Netherlands
In this paper we examine trends in the cross-sectional wealth distribution. We use two wealth definitions: net worth and financial wealth. We use data from the Socio-Economic Panel, a representative...
Self-reported Work Disability in the US and The Netherlands
Arie Kapteyn, James P. Smith, Arthur Van Soest
Self-reported work disability is analyzed in the US and The Netherlands. The raw data show that Dutch respondents much more often report that they have a work limiting health problem than respondents...
James Banks, Arie Kapteyn, James P. Smith, Arthur Van Soest
This paper investigates the role of pain in determining self-reported work disability in the US, the UK, and The Netherlands. Even if identical questions are asked, cross-country differences in...
Hypothetical Intertemporal Consumption Choices
The paper extends and replicates part of the analysis by Barsky, Juster, Kimball, and Shapiro (1997), which exploits hypothetical choices among different consumption streams to infer intertemporal...
Quantity Rationing and Concavity in a Flexible Household Labor Supply Model.
Kapteyn, Arie, Kooreman, Peter, Van Soest, Arthur
In the first part of this paper, the authors derive explicit expressions for the direct utility functions, conditional demand equations, and concavity conditions in both price/income and quantity...
Validating the Use of Vignettes for Subjective Threshold Scales
Arthur Van Soest, Liam Delaney, Colm Harmon, Arie Kapteyn, James P. Smith
Comparing self-assessed indicators of subjective outcomes such as health, work disability, political efficacy, job satisfaction, etc. across countries or socio-economic groups is often hampered by...
The Own and Social Effects of an Unexpected Income Shock
Peter Kuhn, Peter Kooreman, Adriaan R. Soetevent, Arie Kapteyn
In the Dutch Postcode Lottery a postal code (19 households on average) is randomly selected weekly, and prizes –consisting of cash and a new BMW-- are awarded to lottery participants living in that...
The Own and Social Effects of an Unexpected Income Shock: Evidence from the Dutch Postcode Lottery
Peter J. Kuhn, Peter Kooreman, Adriaan R. Soetevent, Arie Kapteyn
In the Dutch Postcode Lottery a postal code (19 households on average) is randomly selected weekly, and prizes - consisting of cash and a new BMW - are awarded to lottery participants living in that...
The Own and Social Effects of an Unexpected Income Shock: Evidence from the Dutch Postcode Lottery
Peter Kuhn, Peter Kooreman, Adriaan R. Stoetevent, Arie Kapteyn
In the Dutch Postcode Lottery a postal code (19 households on average) is randomly selected weekly, and prizes Ðconsisting of cash and a new BMW-- are awarded to lottery participants living in that...
International Comparisons of Work Disability
James Banks, Arie Kapteyn, James P. Smith, Arthur Van Soest
Self-reported work disability is analyzed in the US, the UK and the Netherlands. Different wordings of the questions lead to different work disability rates. But even if identical questions are...
Self-reported Work Disability in the US and The Netherlands
Arie Kapteyn, James P. Smith, Arthur Van Soest
Self-reported work disability is analyzed in the US and The Netherlands. The raw data show that Dutch respondents much more often report that they have a work limiting health problem than respondents...
James Banks, Arie Kapteyn, James P. Smith, Arthur Van Soest
This paper investigates the role of pain in determining self-reported work disability in the U.S., the U.K. and The Netherlands. Even if identical questions are asked, cross-country differences in...
Using Stated Preferences Data to Analyze Preferences for Full and Partial Retirement
Arthur Van Soest, Arie Kapteyn, Julie Zissimopoulos
Structural models explaining retirement decisions of individuals or households in an inter-temporal setting are typically hard to estimate using data on actual retirement decisions, because choice...
Dynamics of Work Disability and Pain
Arie Kapteyn, James P. Smith, Arthur Van Soest
This paper investigates the role of pain in affecting self-reported work disability and employment of elderly workers in the US. The authors investigate pain and its relationship to work disability...
Effects of Attrition and Non-Response in the Health and Retirement Study
Arie Kapteyn, Pierre-Carl Michaud, James P. Smith, Arthur Van Soest
The authors study the effect of attrition and other forms of non-response on the representativity over time of the Health and Retirement Study (HRS) sample born 1931-1941; the sample was initially...
The Own and Social Effects of an Unexpected Income Shock: Evidence from the Dutch Postcode Lottery
Peter Kuhn, Peter Kooreman, Adriaan Soetevent, Arie Kapteyn
In the Dutch Postcode Lottery a postal code (19 households on average) is randomly selected weekly, and prizes--consisting of cash and a new BMW--are awarded to lottery participants living in that...
Dynamics of work disability and pain
Kapteyn, Arie, Smith, James P., Van Soest, Arthur
This paper investigates the role of pain dynamics in subsequently affecting dynamics in self-reported work disability and the dynamics of employment patterns of older workers in the US. Not only is...
Health, Wealth, and the Role of Institutions
A positive relationship between socio-economic status and health has been observed over many populations and many time periods. One of the factors mediating this relation is the institutional...
Validating the Use of Vignettes for Subjective Threshold Scales
Liam Delaney, Colm Harmon, Arie Kapteyn, Arthur Van Soest, James P Smith
Comparing self-assessed indicators of subjective outcomes such as health, work disability, political efficacy, job satisfaction, etc. across countries or socio-economic groups is often hampered by...
Are Americans Really Less Happy With Their Incomes?
Arie Kapteyn, James P. Smith, Arthur Van Soest
Recent economic research on international comparisons of subjective well-being suffers from several important biases due to the potential incomparability of response scales within and across...
Health Indexes and Retirement Modeling in International Comparisons
Erik Meijer, Arie Kapteyn, Tatiana Andreyeva
It is widely believed that health plays a major role in retirement decisions. The most important problem in including health in retirement models is the lack of availability of a good measure of...
Evaluation Periods and Assett Prices in a Market Experiment
Uri Gneezy, Arie Kapteyn, Jan Potters
The authors test the frequency of feedback information about the performance of an investment portfolio and the flexibility with which the investor can change the portfolio influence her risk...
Subjective Measures of Risk Aversion and Portfolio Choice
The paper investigates risk attitudes among different types of individuals. The authors use several different measures of risk attitudes, including questions on choices between uncertain income...
The Size and Composition of Wealth Holdings in the United States, Italy, and the Netherlands
Arie Kapteyn, Constantijn Panis
This report analyzes retirement-saving behavior and portfolio choice in the United States, Italy, and the Netherlands. The authors test hypotheses on the implications of institutional differences for...
The estimation of utility-consistent labor supply models by means of simulated scores
We consider a utility-consistent static labor supply model with flexible preferences and a nonlinear and possibly non-convex budget set. Stochastic error terms are introduced to represent...
An approach ton-mode components analysis
Arie Kapteyn, Heinz Neudecker, Tom Wansbeek
principal components, multidimensional matrices,
The Measurement of Household Cost Functions: Revealed Preference versus Subjective Measures.
Since the work of Pollak and Wales (1979), it is well-known that demand data are insufficient to identify a household cost function. Hence additional information is required. For that purpose I...
Explaining the Wealth Holdings of Different Cohorts: Productivity Growth and Social Security
Arie Kapteyn, Rob Alessie, Annamaria Lusardi
It is well-known that individuals born in different periods of time (cohorts or generations) exhibit different wealth accumulation paths. While previous studies have used cohort dummies to proxy for...
Social Security and Retirement in The Netherlands
Compared to other industrialized countries, the labor force participation of the elderly in the Netherlands is very low. Moreover, it has fallen very fast over recent years. We discuss the incentives...
James Banks, Arie Kapteyn, James P. Smith, Arthur Van Soest
This paper investigates the role of pain in determining self-reported work disability in the US, the UK and The Netherlands. Even if identical questions are asked, cross-country differences in...
Arie Kapteyn, James P. Smith, Arthur Van Soest, James Banks
Many western industrialized countries face strong budgetary pressures due to the aging of the baby boom generations and the general trends toward earlier ages of retirement. We use the American PSID...
Measurement Error and Misclassification: A Comparison of Survey and Administrative Data
We provide both a theoretical and empirical analysis of the relation between administrative and survey data. By distinguishing between different sources of deviations between survey and...
A Disaggregated Analysis of the Allocation of Time within the Household.
Kooreman, Peter, Kapteyn, Arie
In this paper the authors estimate a model of the allocation of time within the household using data that allows them to d istinguish between a large number of time uses. The model is explicitly...
Arie Kapteyn, James P. Smith, Arthur Van Soest
This paper analyzes the determinants of global life satisfaction in two countries (The Netherlands and the U.S.), by using both self-reports and responses to a battery of vignette questions. The...
A note on spectral decomposition and maximum likelihood estimation in models with balanced data
A simple derivation of the spectral decomposition of the covariance matrix for a general multi-way variance components model is presented. So-called balanced data are assumed to be available....
GrossmanÕs Health Threshold and Retirement
Titus Galama, Arie Kapteyn, Raquel Fonseca, Pierre-Carl Michaud
The authors formulate a stylized structural model of health, wealth accumulation and retirement decisions building on the human capital framework of health provided by Grossman. They explicitly...
Kapteyn, Arie, Smith, James P., Van Soest, Arthur
We analyze the determinants of global life satisfaction in two countries (The Netherlands and the U.S.), by using both self-reports and responses to a battery of vignette questions. We find global...
Mode and Context Effects in Measuring Household Assets
Arthur Van Soest, Arie Kapteyn
Differences in answers in Internet and traditional surveys can be due to selection, mode, or context effects. The authors exploit unique experimental data to analyze mode and context effects...
Early Retirement and Employment of the Young
Adrian Kalwij, Arie Kapteyn, Klaas De Vos
Policy makers have often argued that an additional benefit of facilitating early retirement is that it creates employment for the young. This may happen if older and younger workers are substitutes....
Grossman's Missing Health Threshold
The authors present a generalized solution to Grossman's model of health capital (1972), relaxing the widely used assumption that individuals can adjust their health stock instantaneously to an...
Subjective Measures of Risk Aversion, Fixed Costs, and Portfolio Choice
The paper investigates risk attitudes among different types of individuals. We use several different measures of risk attitudes, including questions on choices between uncertain income streams...
Health, Wealth, and the Role of Institutions
A positive relationship between socioeconomic status and health has been observed over many populations and many time periods. One of the factors mediating this relation is the institutional...
Work Disability, Work, and Justification Bias in Europe and the U.S.
Arie Kapteyn, James P. Smith, Arthur Van Soest
To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as “do you have an impairment or health problem limiting the kind or...
Arie Kapteyn, James P. Smith, Arthur Van Soest
The authors analyze the determinants of global life satisfaction in two countries (The Netherlands and the U.S.), by using both self-reports and responses to a battery of vignette questions. They...
The Distribution of Welfare and Household Production
Jenkins,Stephen, Kapteyn,Arie, Praag,Bernard Van
When the overall economic pie is not growing, then how it is shared out becomes more important. This book is a collection of new empirical and theoretical papers by a distinguished set of...
Work Disability, Work, and Justification Bias in Europe and the U.S.
Kapteyn, Arie, Smith, James P., Van Soest, Arthur
To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as "do you have an impairment or health problem limiting the kind or amount...
Work Disability, Work, and Justification Bias in Europe and the U.S.
Arie Kapteyn, James P. Smith, Arthur Van Soest
To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as “do you have an impairment or health problem limiting the kind or...
Work Disability, Work, and Justification Bias in Europe and the U.S.
Arie Kapteyn, James P. Smith, Arthur Van Soest
To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as Òdo you have an impairment or health problem limiting the kind or amount...
Arie Kapteyn, James P. Smith, Arthur Van Soest
The authors analyze the determinants of global life satisfaction in two countries (The Netherlands and the U.S.), by using both self-reports and responses to a battery of vignette questions. They...