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Suggested Citation:"Front Matter." National Research Council. 2011. Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/13118.
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ASSESSING THE IMPACT OF SEVERE ECONOMIC RECESSION ON THE ELDERLY

Summary of a Workshop

Malay Majmundar, Rapporteur

Steering Committee on the Challenges of Assessing the Impact of Severe Economic Recession on the Elderly

Committee on Population

Division of Behavioral and Social Sciences and Education

NATIONAL RESEARCH COUNCIL
OF THE NATIONAL ACADEMIES

THE NATIONAL ACADEMIES PRESS

Washington, D.C.
www.nap.edu

Suggested Citation:"Front Matter." National Research Council. 2011. Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/13118.
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THE NATIONAL ACADEMIES PRESS
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NOTICE: The project that is the subject of this report was approved by the Governing Board of the National Research Council, whose members are drawn from the councils of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine. The members of the committee responsible for the report were chosen for their special competences and with regard for appropriate balance.

This study was supported by the National Institute on Aging’s Division of Behavioral and Social Research through Contract No. N01-OD-4-2139, TO #92 between the National Academy of Sciences and the U.S. Department of Health and Human Services. Any opinions, findings, conclusion, or recommendations expressed in this publication are those of the author(s) and do not necessarily reflect the views of the organization or agencies that provided support for the project.

International Standard Book Number-13: 978-0-309-20969-4

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Suggested citation: National Research Council. (2011). Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. M. Majmundar, Rapporteur. Steering Committee on the Challenges of Assessing the Impact of Severe Economic Recession on the Elderly. Committee on Population, Division of Behavioral and Social Sciences and Education. Washington, DC: The National Academies Press.

Suggested Citation:"Front Matter." National Research Council. 2011. Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/13118.
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THE NATIONAL ACADEMIES

Advisers to the Nation on Science, Engineering, and Medicine


The National Academy of Sciences is a private, nonprofit, self-perpetuating society of distinguished scholars engaged in scientific and engineering research, dedicated to the furtherance of science and technology and to their use for the general welfare. Upon the authority of the charter granted to it by the Congress in 1863, the Academy has a mandate that requires it to advise the federal government on scientific and technical matters. Dr. Ralph J. Cicerone is president of the National Academy of Sciences.


The National Academy of Engineering was established in 1964, under the charter of the National Academy of Sciences, as a parallel organization of outstanding engineers. It is autonomous in its administration and in the selection of its members, sharing with the National Academy of Sciences the responsibility for advising the federal government. The National Academy of Engineering also sponsors engineering programs aimed at meeting national needs, encourages education and research, and recognizes the superior achievements of engineers. Dr. Charles M. Vest is president of the National Academy of Engineering.


The Institute of Medicine was established in 1970 by the National Academy of Sciences to secure the services of eminent members of appropriate professions in the examination of policy matters pertaining to the health of the public. The Institute acts under the responsibility given to the National Academy of Sciences by its congressional charter to be an adviser to the federal government and, upon its own initiative, to identify issues of medical care, research, and education. Dr. Harvey V. Fineberg is president of the Institute of Medicine.


The National Research Council was organized by the National Academy of Sciences in 1916 to associate the broad community of science and technology with the Academy’s purposes of furthering knowledge and advising the federal government. Functioning in accordance with general policies determined by the Academy, the Council has become the principal operating agency of both the National Academy of Sciences and the National Academy of Engineering in providing services to the government, the public, and the scientific and engineering communities. The Council is administered jointly by both Academies and the Institute of Medicine. Dr. Ralph J. Cicerone and Dr. Charles M. Vest are chair and vice chair, respectively, of the National Research Council.


www.national-academies.org

Suggested Citation:"Front Matter." National Research Council. 2011. Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/13118.
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Suggested Citation:"Front Matter." National Research Council. 2011. Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/13118.
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STEERING COMMITTEE ON THE CHALLENGES OF ASSESSING THE IMPACT OF SEVERE ECONOMIC RECESSION ON THE ELDERLY

DUNCAN THOMAS (Chair),

Department of Economics, Duke University

ROBERT M. HAUSER,

Division of Behavioral and Social Sciences and Education, National Research Council, Washington, DC, and

Vilas Research Professor,

Emeritus, University of Wisconsin, Madison

ARIE KAPTEYN,

RAND Corporation, Santa Monica, California

JONATHAN S. SKINNER,

Department of Economics, Dartmouth College

ROBERT WILLIS,

Population Studies Center, University of Michigan

BARNEY COHEN, Study Director

MALAY MAJMUNDAR, Program Officer

DANIELLE JOHNSON-BLAND, Senior Program Assistant

Suggested Citation:"Front Matter." National Research Council. 2011. Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/13118.
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COMMITTEE ON POPULATION

LINDA J. WAITE (Chair),

Department of Sociology, University of Chicago

CHRISTINE BACHRACH,

Social Science Research Institute, Duke University, and School of Behavioral and Social Sciences, University of Maryland

EILEEN M. CRIMMINS,

Department of Sociology, University of Southern California

PETER J. DONALDSON,

Population Council, New York

BARBARA ENTWISLE,

Department of Sociology, University of North Carolina, Chapel Hill

JOSHUA R. GOLDSTEIN,

Max Planck-Institute for Demographic Research, Rostock, Germany

CHARLES HIRSCHMAN,

Department of Sociology, University of Washington

BARTHÉLÉMY KUATE-DEFO,

Department of Demography, University of Montreal

WOLFGANG LUTZ,

World Population Program, International Institute for Applied Systems Analysis, Laxenburg, Austria

DUNCAN THOMAS,

Economics Department, Duke Global Health Institute, Duke University

BARBARA B. TORREY, Independent Consultant,

Washington, DC

MAXINE WEINSTEIN,

Center for Population and Health, Georgetown University

BARNEY COHEN, Director

Suggested Citation:"Front Matter." National Research Council. 2011. Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/13118.
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Acknowledgments

Although the effects of a severe economic recession can be felt by many segments of society, some groups are potentially more vulnerable than others. Older Americans represent one such group because they face significant challenges not only in adjusting their labor market participation, but also in their limited ability to alter their consumption or savings patterns.

Given the severe nature of the 2008 economic collapse, particularly in the housing market and the stock market, and given that growing numbers of Americans are nearing retirement age, the National Institute on Aging (NIA) requested the Committee on Population convene a workshop to assess the effects of severe economic recession on the elderly.

This project would not have been possible without the help of a number of people. I would particularly like to acknowledge the role played by the members of the steering committee, particularly the chair, Duncan Thomas. The steering committee played a primary role in organizing the workshop and shaping its intellectual content, although institutional procedures precluded them from participating in the writing of this workshop summary. Special thanks also go to Richard Suzman, director of the Division of Behavioral and Social Research at NIA, for providing essential support and encouragement.

Several staff members at the National Research Council (NRC) made significant contributions to the report: Malay Majmundar helped organize the workshop and served as rapporteur for this workshop summary, Danielle Johnson-Bland provided logistical support, Christine McShane edited the document, and Yvonne Wise managed the production process.

Page viii Cite
Suggested Citation:"Front Matter." National Research Council. 2011. Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/13118.
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This workshop summary has been reviewed in draft form by individuals chosen for their diverse perspectives and technical expertise, in accordance with procedures approved by the Report Review Committee of the NRC. The purpose of this independent review is to provide candid and critical comments that will assist the institution in making its products as sound as possible and to ensure that the report meets institutional standards for objectivity, evidence, and responsiveness to the charge. The review comments and draft manuscript remain confidential to protect the integrity of the process. We thank the following individuals for their review: M. Harvey Brenner, School of Public Health, University of North Texas; Andrew D. Foster, Department of Economics, Brown University; and Brigitte Madrian, John F. Kennedy School of Government, Harvard University.

Although the reviewers listed above provided many constructive comments and suggestions, they were not asked to endorse the content of the report nor did they see the final draft of the report before its release. The review of this report was overseen by David Lam, Department of Economics and Population Studies Center, University of Michigan, Ann Arbor. Appointed by the NRC, he was responsible for making certain that an independent examination of this report was carried out in accordance with institutional procedures and that all review comments were carefully considered. Responsibility for the final content of this report rests entirely with the author and the institution.


Barney Cohen, Director

Committee on Population

Suggested Citation:"Front Matter." National Research Council. 2011. Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/13118.
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The economic crisis that began in 2008 has had a significant impact on the well-being of certain segments of the population and its disruptive effects can be expected to last well into the future. The National Institute on Aging (NIA), which is concerned with this issue as it affects the older population in the United States, asked the National Research Council to review existing and ongoing research and to delineate the nature and dimensions of potential scientific inquiry in this area.

The Committee on Population thus established the Steering Committee on the Challenges of Assessing the Impact of Severe Economic Recession the Elderly to convene a meeting of experts to discuss these issues. The primary purpose of the workshop was to help NIA gain insight into the kinds of questions that it should be asking, the research that it should be supporting, and the data that it should be collecting. Attendees included invited experts in the fields of economics, sociology, and epidemiology; staff from NIA and the Social Security Administration (SSA); and staff from the National Academies.

This report highlights the major issues that were raised in the workshop presentations and discussion.

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