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Michael Hurd

Senior Economist


Michael Hurd received a Masters Degree in Statistics and a Ph.D. in Economics from the University of California, Berkeley.  He is Principal Senior Researcher and Director of the RAND Center for the Study of Aging. He has published papers on a wide range of topics in the economics of aging including the structure of private pensions and Social Security and their effects on retirement decisions, the economic status of the elderly, the determinants of consumption and saving (particularly mortality risk), the use of health care services, methods of assessing uncertainty in a population; bracketing and anchoring effects in the elicitation of economic information; and the relationship between socioeconomic status and mortality.  He served on the Technical Panel of Experts (1990) and the Panel of Experts (1991) to the Social Security Advisory Council; on the Advisory Committee for the World Bank Old-Age Security Study; on the Panel on Retirement Income Modeling, Committee on National Statistics, National Research Council, 1995-1996; on the Panel on Access to Research Data, Committee on National Statistics, National Research Council, 2003-2005; and on the Panel on Measuring Food Insecurity and Hunger, Committee on National Statistics, National Research Council, 2004-2006.  He has had extensive experience in survey methods and design:  He is a Co-PI of the Health and Retirement Study where he has responsibility for the economics content of the survey.  He is a consultant to the English Longitudinal Study of Ageing and to the Survey of Health, Ageing, and Retirement in Europe.  He is Co-PI of a joint project with the University of Michigan on Internet surveying.  Hurd is the Director of the RAND Center for the Study of Aging.  He is a Research Associate at the National Bureau of Economic Research, and a Research Fellow of Netspar (Network for Studies on Pensions, Aging and Retirement) in the Netherlands.  He is a Research Professor at the Mannheim Research Institute for the Economics of Aging, a member of the Scientific Advisory Board of the Netzwerk Alternsforschung  (Network Aging Research) at the University of Heidelberg, and a member of the International Advisory Board of the Oxford Institute of Ageing at Oxford University.  He is on the editorial board of the Journal of Population Ageing, and a member of the Board of Directors of the Western Economic Association International.

Associated Research Projects

UM18-Q4: Assessing Economic Resources in Retirement: The Role of Withdrawals from Tax-Advantaged Retirement Accounts
UM18-Q3: Addition to the RAND HRS Longitudinal Files: IRA Withdrawals in the HRS, 2000-2016
UM17-10: How do Changes in Health and Cognition Affect the Timing of Retirement? Evidence from Occupational Job Demands and Job Mismatch
UM16-13: The Impact of Unemployment and Re-Employment on Household Consumption Measured at High Frequency over a Six-Year Period
UM15-10: Measuring Economic Preparation for Retirement: Income Versus Consumption
UM14-06: The Effect of Wealth Shocks in the Great Recession on Time-use and Budget Shares.
UM13-Q5: Working at Older Ages: the Roles of Work Environment and Psychological Factors.
UM13-05: Expectations and Consumption
UM12-13: Investment Decisions in Retirement: the role of expectations, health risk and pension benefits
UM12-11: Personality Traits and Economic Preparation for Retirement
UM11-17: Consumption and Differential Mortality
UM11-10: The Effects of the Financial Crisis on Actual and Anticipated Consumption
UM10-18: The Effect of Out-of-Pocket Spending for Health Care on Economic Preparation for Retirement
UM10-06: The Effects of the Economic Crisis on Retirement and Spending
UM09-16: International comparisons: The Effect of Policy on Work, Disability and Wealth
UM09-08: The Level and Risk of Out-of-Pocket Health Care Spending
UM08-16: Pension Reform in Mexico: The Effect of Personal Retirement Accounts on Preparation for Retirement
UM08-11: Adequacy of Economic Resources in Retirement: Model-Based Estimations
UM07-07: Adequacy of Economic Resources in Retirement and Returns-to-scale in Consumption
UM06-03: Alternative Measures of Replacement Rates
UM05-08: Consumption and Economic Well-Being at Older Ages
UM04-13: Changes in Consumption and Activities in Retirement
UM04-09: Continued Development and Public Dissemination of RAND HRS Data
UM03-10: Consumption and Time-Use Before and After Retirement
UM02-05: Saving for Retirement: Wage Growth and Unexpected Events
UM00-05: Mortality Risk and Early Retirement
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