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Research ArticleArticles

Does Stock Market Performance Influence Retirement Intentions?

Gopi Shah Goda, John B. Shoven and Sita Nataraj Slavov
Journal of Human Resources, October 2012, 47 (4) 1055-1081; DOI: https://doi.org/10.3368/jhr.47.4.1055
Gopi Shah Goda
Gopi Shah Goda is a research scholar and coordinator of the postdoctoral fellow program at the Stanford Institute for Economic Policy Research (SIEPR), and a faculty research fellow at the National Bureau of Economic Research (NBER). John B. Shoven is the director of SIEPR, a professor of economics at Stanford University, and a research associate at the NBER. Sita Nataraj Slavov is a resident scholar at the American Enterprise Institute
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John B. Shoven
Gopi Shah Goda is a research scholar and coordinator of the postdoctoral fellow program at the Stanford Institute for Economic Policy Research (SIEPR), and a faculty research fellow at the National Bureau of Economic Research (NBER). John B. Shoven is the director of SIEPR, a professor of economics at Stanford University, and a research associate at the NBER. Sita Nataraj Slavov is a resident scholar at the American Enterprise Institute
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Sita Nataraj Slavov
Gopi Shah Goda is a research scholar and coordinator of the postdoctoral fellow program at the Stanford Institute for Economic Policy Research (SIEPR), and a faculty research fellow at the National Bureau of Economic Research (NBER). John B. Shoven is the director of SIEPR, a professor of economics at Stanford University, and a research associate at the NBER. Sita Nataraj Slavov is a resident scholar at the American Enterprise Institute
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Abstract

Media reports predicted that the stock market decline in October 2008 would cause changes in retirement intentions, due to declines in retirement assets. We use panel data from the Health and Retirement Study to investigate the relationship between stock market performance and retirement intentions during 1998–2008, a period that includes the recent crisis. While we find a weak negative correlation between stock returns and retirement intentions, further investigation suggests that this relationship is not driven by wealth shocks brought about by stock market fluctuations, but by other factors that are correlated with both the stock market and retirement intentions.

  • Accepted January 2012.

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Journal of Human Resources: 47 (4)
Journal of Human Resources
Vol. 47, Issue 4
2 Oct 2012
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Does Stock Market Performance Influence Retirement Intentions?
Gopi Shah Goda, John B. Shoven, Sita Nataraj Slavov
Journal of Human Resources Oct 2012, 47 (4) 1055-1081; DOI: 10.3368/jhr.47.4.1055

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Does Stock Market Performance Influence Retirement Intentions?
Gopi Shah Goda, John B. Shoven, Sita Nataraj Slavov
Journal of Human Resources Oct 2012, 47 (4) 1055-1081; DOI: 10.3368/jhr.47.4.1055
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