In the article, the authors conducted a detailed analysis of food expenditures and food consumption in retirement to show that neither the quality nor the quantity of food intake deteriorates with retirement status. Their findings contradict previous research documenting a dramatic decline in expenditures at the time of retirement for the average household, by focusing on actual measures of consumption as opposed to expenditure. The authors thus provide an improved methodology for analyzing the well-being of households as they transition into retirement.
The Paul A. Samuelson Award will be presented by the TIAA-CREF Institute on January 5th during the ASSA Annual Meetings in Chicago. The award is named after Nobel Prize winner Paul Samuelson in honor of his achievements in the field of economics, as well as for his service as a CREF trustee from 1974-85. The annual award recognizes original work with practical implications for individuals and their families.
"Recipients of the Paul A. Samuelson Award embody our mission," said Madeleine d'Ambrosio, executive director of the TIAA-CREF Institute. "We work to encourage objective research, support thought leadership, and enhance the understanding of strategic issues related to the business of lifelong financial security.
TIAA-CREF Paul A. Samuelson Certificate of Excellence Winner
In addition, the TIAA-CREF Paul A. Samuelson Certificate of Excellence has been awarded to Nava Ashraf, Assistant Professor in the Negotiations, Organizations, and Markets Unit at Harvard Business School; Dean Karlan, Assistant Professor of Economics at Yale University; and Wesley Yin, Assistant Professor in the Harris School of Public Policy at the University of Chicago. In their article titled " Tying Odysseus to the Mast: Evidence From a Commitment Savings Product in the Philippines, "(The Quarterly Journal of Economics, May 2006,) the authors provide direct evidence of the need for specialized savings products in order to help underprivileged individuals reach their savings goals and thus achieve lifelong financial security.
Five noted scholars served as judges for the 2006 award: Nicholas Barberis, Professor of Finance, Yale University; Richard C. Green, Professor of Economics and Management, Carnegie Mellon University, Tepper School of Business; Annamaria Lusardi, Ph.D, Professor of Economics, Dartmouth College; Olivia S. Mitchell, Ph.D, Professor of Insurance and Risk Management and Business and Public Policy, University of Pennsylvania, The Wharton School; and Andrew Samwick, Ph.D, Professor of Economics, Dartmouth College.
About the TIAA-CREF Institute
The mission of the TIAA-CREF Institute, part of TIAA-CREF, is to foster and conduct objective research, to build knowledge, to demonstrate thought leadership, and to enhance understanding of strategic issues related to higher education and lifelong financial security. Learn more about the TIAA-CREF Institute.
TIAA-CREF is a national financial services organization and the leading provider of retirement services in the academic, research, medical and cultural fields with more than $390 billion in combined assets under management (9/30/06). Learn more About TIAA-CREF.
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