HKS Authors

See citation below for complete author information.

Professor of the Practice of Public Policy, HKS; Professor of the Practice of Economics, FAS


Around the world, people nearing and entering retirement are holding ever-greater levels of debt than in the past. This is not a benign situation, as many pre-retirees and retirees are stressed about their indebtedness. Moreover, this growth in debt among the older population may render retirees vulnerable to financial shocks, medical care bills, and changes in interest rates. Contributors to this volume explore key aspects of the rise in debt across older cohorts, drill down into the types of debt and reasons for debt incurred by the older population, and review policies to remedy some of the financial problems facing older persons, in the US and elsewhere. The authors explore which groups are most affected by debt and identify the factors producing this important increase in leverage at older ages.


Dynan, Karen. "The Risk of Financial Hardship in Retirement: A Cohort Analysis." Remaking Retirement: Debt in an Aging Economy. Ed. Olivia Mitchell and Annamaria Lusardi. Oxford University Press, 2020.