Based on self-reported illnesses and biological markers of disease, US residents are much less healthy than their English counterparts and these differences exist at all points of the SES distribution.

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This paper examines the extent to which cognitive abilities relate to differences in trajectories for key economic outcomes as individuals move towards and through their retirement. We look at whether differences in baseline numeracy (measured in the English Longitudinal Study of Ageing in 2002) and broader cognitive ability predict the subsequent trajectories of outcomes such as wealth, retirement income and key dimensions of retirement expectations. Those with lower numeracy are shown to have different wealth trajectories both pre- and post-retirement than their more numerate counterparts, but the distributions of retirement expectations and net replacement rates are similar across numeracy groups.

In a world of declining state pension provision, it is becoming increasingly important that individuals are able to understand the financial choices they face and can choose savings products, portfolios and contribution rates accordingly. In this paper, we look at numerical ability and other dimensions of cognitive function in a sample of older adults in England and examine the extent to which these abilities are correlated with various measures of wealth and retirement saving outcomes. As well as finding that relatively large fractions of the older population can be seen to have low levels of numeracy, we show that numeracy levels are strongly correlated with measures of retirement saving and investment portfolios, even when controlling for other dimensions of cognitive ability as well as educational attainment. Numeracy is also related to knowledge and understanding of

This paper examines geographic mobility and housing downsizing at older ages in Britain and America. Americans downsize housing much more than the British largely because Americans are much more mobile. The principal reasons for greater mobility among older Americans are two fold: (1) greater spatial distribution of geographic distribution of amenities (such as warm weather) and housing costs and (2) greater institutional rigidities in subsidized British rental housing providing stronger incentives for British renters not to move. This relatively flat British housing consumption with age may have significant implications for the form and amount of consumption smoothing at older ages.

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In terms of collecting panel expenditure data, there are trade-offs between the demands imposed on respondents and the detail and coverage of data collected. Comprehensive spending data tend to be cross-sectional whilst panel studies include only limited, aggregated expenditure questions. Recently, economists have begun to use detailed, bar-code-level spending data from household panels collected by market research companies. However, there has not been a detailed assessment of the strengths and weaknesses of this collection method or its implications for the recorded data. This paper seeks to fill this gap by providing an in-depth examination of data from one company, Taylor Nelson Sofres (TNS), recording grocery purchases over five years. We assess how far the ongoing demands of participation lead to 'fatigue' in respondents' recording of their spending and the implications for household attrition, and we provide a detailed comparison of the expenditure data collected by TNS and the wellestablished Expenditure and Food Survey (EFS). Broadly, we suggest that problems of fatigue and attrition may not be particularly severe, though there are differences in expenditures that cannot be attributed to demographic or time effects and may be suggestive of survey mode effects.

In this paper, we modeled several types of housing transitions of the elderly in two countries-Britain and the United States. One important form of these transitions involves downsizing of housing consumption, the importance of which among older households is still debated. This downsizing takes multiple forms, including reductions in the number of rooms per dwelling and the value of the home. There is also evidence that this downsizing is greater when house price volatility is greater and that American households try to escape housing price volatility by moving to places that are experience significantly less housing price volatility. Our comparative evidence in suggests that there is less evidence of downsizing in Britain. Our results indicate that housing consumption appears to decline with age in the US, even after controlling for the other demographic and work transitions associated with age that would normally produce such a decline. No such fall in housing consumption is found in Britain, largely because British households are much more likely to stay in their original residence.