@article{clark_milligan_newhouse_2023, title={Changing labor market for older workers: short and long-term trends}, ISSN={["1475-3022"]}, DOI={10.1017/S1474747223000094}, abstractNote={An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Milligan, Kevin and Newhouse, Joseph P.}, year={2023}, month={Jul} }
 @article{abashidze_clark_craig_2023, title={Quantifying and explaining the decline in public schoolteacher retirement benefits}, ISSN={["1468-232X"]}, DOI={10.1111/irel.12329}, abstractNote={Abstract}, journal={INDUSTRIAL RELATIONS}, author={Abashidze, Nino and Clark, Robert L. L. and Craig, Lee A. A.}, year={2023}, month={Mar} }
 @article{clark_pelletier_2022, title={Impact of defaults on participation in state supplemental retirement savings plans}, volume={21}, ISSN={["1475-3022"]}, DOI={10.1017/S1474747220000347}, abstractNote={Abstract}, number={1}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Pelletier, Denis}, year={2022}, month={Jan}, pages={22–37} }
 @article{mitchell_clark_lusardi_2022, title={Income trajectories in later life: Longitudinal evidence from the Health and Retirement Study}, volume={22}, ISSN={["2212-8298"]}, DOI={10.1016/j.jeoa.2022.100371}, abstractNote={We track low-income respondents in the longitudinal Health and Retirement Study for 23 years, to observe how their financial situations unfolded as they aged. We document that (a) real incomes remained relatively stable as individuals entered retirement and progressed through their later years; and (b) labor force participation declined and thus earnings became less important with age, while Social Security and retirement savings rose as a proportion of annual income. Low-income people near retirement also tended to fare poorly during retirement.}, journal={JOURNAL OF THE ECONOMICS OF AGEING}, author={Mitchell, Olivia S. and Clark, Robert L. and Lusardi, Annamaria}, year={2022}, month={Jun} }
 @article{clark_mitchell_2022, title={Influencing the choice of pension distribution at retirement}, ISSN={["1475-3022"]}, DOI={10.1017/S1474747222000130}, abstractNote={Abstract}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Mitchell, Olivia S.}, year={2022}, month={Jun} }
 @article{abashidze_clark_hammond_ritter_vanderweide_2021, title={Annuity pricing in public pension plans: importance of interest rates}, volume={20}, ISSN={["1475-3022"]}, DOI={10.1017/S1474747219000271}, abstractNote={Abstract}, number={1}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Abashidze, Nino and Clark, Robert L. and Hammond, Robert G. and Ritter, Beth M. and Vanderweide, David}, year={2021}, month={Jan}, pages={27–48} }
 @book{clark_lee_mason_2021, title={Fiscal Accountability and Population Aging}, ISBN={9781800370470}, url={http://dx.doi.org/10.4337/9781800370470}, DOI={10.4337/9781800370470}, publisher={Edward Elgar Publishing}, author={Clark, Robert and Lee, YoungWook and Mason, Andrew}, year={2021} }
 @article{clark_lusardi_mitchell_2021, title={HOUSEHOLD CONSEQUENCES OF THE CORONAVIRUS AND ITS AFTERMATH: MICROECONOMIC OUTCOMES Financial Fragility during the COVID-19 Pandemic}, volume={111}, ISSN={["2574-0776"]}, DOI={10.1257/pandp.20211000}, abstractNote={ Early in the COVID-19 pandemic, much of the US economy was closed to limit the virus's spread, and several emergency interventions were implemented. Our analysis of older (45-75) respondents fielded in April-May of 2020 indicates that about 1 in 5 respondents was financially fragile and would have difficulty facing a midsize emergency expense. Some subgroups were at particular risk of facing financial difficulties, especially younger respondents, those with larger families, Hispanics, and those with low income. Moreover, the more financially literate were better able to handle such shocks, indicating that knowledge can provide some additional protection during a pandemic. }, journal={AEA PAPERS AND PROCEEDINGS}, author={Clark, Robert L. and Lusardi, Annamaria and Mitchell, Olivia S.}, year={2021}, month={May}, pages={292–296} }
 @article{clark_newhouse_2021, title={Retirement decisions in a changing labor market}, volume={20}, ISSN={["1475-3022"]}, DOI={10.1017/S1474747221000056}, abstractNote={Abstract}, number={3}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Newhouse, Joseph P.}, year={2021}, month={Jul}, pages={337–340} }
 @article{clark_ogawa_mansor_abe_mahidin_2021, title={Wage Differentials in Malaysia: Public Employment, Gender, and Ethnicity*}, volume={20}, ISSN={["1536-0083"]}, DOI={10.1162/asep_a_00840}, abstractNote={Abstract}, number={3}, journal={ASIAN ECONOMIC PAPERS}, author={Clark, Robert L. and Ogawa, Naohiro and Mansor, Norma and Abe, Shigeyuki and Mahidin, Mohd Uzir}, year={2021}, month={Nov}, pages={16–34} }
 @article{clark_hammond_liu_2021, title={Work after retirement: worklife transitions of career public employees}, volume={20}, ISSN={["1475-3022"]}, DOI={10.1017/S1474747219000428}, abstractNote={Abstract}, number={3}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Hammond, Robert G. and Liu, Siyan}, year={2021}, month={Jul}, pages={341–356} }
 @misc{parsons_clark_2020, title={Area-Selective Deposition: Fundamentals, Applications, and Future Outlook}, volume={32}, ISSN={["1520-5002"]}, url={https://doi.org/10.1021/acs.chemmater.0c00722}, DOI={10.1021/acs.chemmater.0c00722}, abstractNote={This article provides an overview of area-selective thin film deposition (ASD) with primary focus on vapor-phase thin film formation via chemical vapor deposition (CVD) and atomic layer deposition ...}, number={12}, journal={CHEMISTRY OF MATERIALS}, publisher={American Chemical Society (ACS)}, author={Parsons, Gregory N. and Clark, Robert D.}, year={2020}, month={Jun}, pages={4920–4953} }
 @article{clark_ritter_2020, title={How Are Employers Responding to an Aging Workforce?}, volume={60}, ISSN={["1758-5341"]}, DOI={10.1093/geront/gnaa031}, abstractNote={Abstract}, number={8}, journal={GERONTOLOGIST}, author={Clark, Robert L. and Ritter, Beth M.}, year={2020}, month={Dec}, pages={1403–1410} }
 @article{clark_mitchell_2020, title={Target Date Defaults in a Public Sector Retirement Saving Plan}, volume={86}, ISSN={["2325-8012"]}, DOI={10.1002/soej.12415}, abstractNote={Little is known about whether employee retirement saving patterns change when public sector employers implement Target Date Funds (TDFs) as the default plan investment. We use administrative and survey data from a large government entity to track participation, contributions, and asset allocation impacts of TDF introduction. We show that those mapped into TDFs did not alter their holdings so that the reform resulted in higher equity shares, especially for women, younger workers, and low‐seniority employees. The least risk‐tolerant and financially literate employees held 12 percentage points more equity than previously. Moreover, defaulting public employees into TDF had a profoundly sticky effect on their subsequent investment behavior.}, number={3}, journal={SOUTHERN ECONOMIC JOURNAL}, author={Clark, Robert L. and Mitchell, Olivia S.}, year={2020}, month={Jan}, pages={1133–1149} }
 @article{clark_hammond_morrill_khalaf_2019, title={INFORMING RETIREMENT SAVINGS DECISIONS: A FIELD EXPERIMENT ON SUPPLEMENTAL PLANS}, volume={57}, ISSN={["1465-7295"]}, DOI={10.1111/ecin.12731}, abstractNote={Although supplemental saving plans can be an important part of an individual's financial security in retirement, contribution rates remain low, particularly among those with lower salaries and less education. We report findings from an intervention that provided information on key aspects of the employer‐provided supplemental saving plans to older public employees in North Carolina. Among workers participating in a supplemental plan, individuals who received an informational flyer increased their contributions in the months following the intervention relative to the control group. In contrast, individuals who were not enrolled in a retirement saving plan were not moved to begin contributing to a supplemental plan. The results suggest that informational interventions can induce workers who are already engaged in the saving process to reassess their level of retirement preparedness. (JEL C93, D14, D9)}, number={1}, journal={ECONOMIC INQUIRY}, author={Clark, Robert L. and Hammond, Robert G. and Morrill, Melinda S. and Khalaf, Christelle}, year={2019}, month={Jan}, pages={188–205} }
 @article{clark_newhouse_2019, title={Incentives and limitations of employment policies on retirement transitions}, volume={18}, ISSN={["1475-3022"]}, DOI={10.1017/S1474747219000039}, abstractNote={Robert L. Clark1* and Joseph P. Newhouse2 Professor, Department of Economics, North Carolina State University and John D. MacArthur Professor of Health Policy and Management, Harvard Kennedy School, Harvard University, Harvard Medical School, Department of Health Care Policy, Harvard University; Harvard T.H. Chan School of Public Health, Department of Health Policy and Management, Harvard University *Corresponding author. E-mail: robert_clark@ncsu.edu}, number={4}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Newhouse, Joseph P.}, year={2019}, month={Oct}, pages={495–499} }
 @article{clark_hammond_vanderweide_2019, title={Navigating complex financial decisions at retirement: evidence from annuity choices in public sector pensions}, volume={18}, ISSN={["1475-3022"]}, DOI={10.1017/S1474747218000410}, abstractNote={Abstract}, number={4}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Hammond, Robert G. and Vanderweide, David}, year={2019}, month={Oct}, pages={594–611} }
 @article{clark_hammond_khalaf_2019, title={Planning for Retirement? The Importance of Time Preferences}, volume={40}, ISSN={["1936-4768"]}, DOI={10.1007/s12122-019-09287-y}, abstractNote={Ensuring retirement income security is a priority for individuals, employers, and policymakers. To achieve this, employers and policymakers sponsor and subsidize retirement saving plans and provide educational interventions. The effectiveness of these tools will depend on individuals’ interest and willingness to engage in planning and preparing for retirement. Using merged administrative and survey data for public sector workers in North Carolina, we find that individuals who more heavily discount the future are less likely to plan and save for retirement. Further, retirement planning behavior is measured both subjectively and objectively, and time preferences have an association with subjectively measured retirement planning but not with objectively measured retirement planning. Finally, individuals’ retirement timing is associated with time preferences but only among individuals with a retirement plan. In total, our results highlight the important role of time preferences in determining retirement planning and preparedness.}, number={2}, journal={JOURNAL OF LABOR RESEARCH}, author={Clark, Robert L. and Hammond, Robert G. and Khalaf, Christelle}, year={2019}, month={Jun}, pages={127–150} }
 @article{clark_pathak_pelletier_2018, title={Supplemental Retirement Savings Plans in the Public Sector: Participation and Contribution Decisions by School Personnel}, volume={39}, ISSN={["1936-4768"]}, DOI={10.1007/s12122-018-9270-2}, number={4}, journal={JOURNAL OF LABOR RESEARCH}, author={Clark, Robert L. and Pathak, Aditi and Pelletier, Denis}, year={2018}, month={Dec}, pages={383–404} }
 @article{clark_lusardi_mitchell_2017, title={Employee financial literacy and retirement plan behavior: A case study}, volume={55}, DOI={10.1111/ecin.12389}, abstractNote={This article uses administrative data on all active employees of the Federal Reserve (FR) System to examine participation in and contributions to the Thrift Saving Plan, the System's defined contribution (DC) plan. We link to administrative records a unique employee survey of economic/demographic factors including a set of financial literacy questions. Not surprisingly, FR employees are substantially more financially literate than the population at large. Most importantly, financially savvy employees are also most likely to participate in their DC plan. Sophisticated workers contribute three percentage points more of their earnings to the DC plan than do the less knowledgeable, and they hold more equity in their pension accounts. We examine changes in employee plan behavior 1 year after employees completed a Learning Module about retirement planning, and we compare it to baseline patterns. We find that those employees who completed the Learning Module were more likely to start contributing and less likely to have stopped contributing to the DC plan postsurvey. In sum, employer‐provided learning programs are shown to significantly impact employee retirement saving decisions and consistent with a lot of other research, higher levels of financial literacy are found to have a beneficial impact on retirement saving patterns. (JEL J3, H7)}, number={1}, journal={Economic Inquiry}, author={Clark, R. and Lusardi, A. and Mitchell, O. S.}, year={2017}, pages={248–259} }
 @article{clark_lusardi_mitchell_2017, title={Financial knowledge and 401(k) investment performance: a case study}, volume={16}, ISSN={["1475-3022"]}, DOI={10.1017/s1474747215000384}, abstractNote={Abstract}, number={3}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert and Lusardi, Annamaria and Mitchell, Olivia S.}, year={2017}, month={Jul}, pages={324–347} }
 @article{clark_hanson_morrill_pathak_2017, title={Supplemental plan offerings and retirement saving choices: an analysis of North Carolina school districts – Corrigendum}, volume={16}, ISSN={1474-7472 1475-3022}, url={http://dx.doi.org/10.1017/S1474747216000111}, DOI={10.1017/S1474747216000111}, abstractNote={Unlike private sector employers, public school districts generally offer more than one type of supplemental retirement savings plan and allow multiple vendors to offer products. Using individual-level payroll data from over half of the public school districts in North Carolina coupled with data from an employer survey, this study examines how inter-district differences in supplemental plan administration are related to participation in these savings vehicles. We find wide variation in total participation rates and in 403(b) plan participation rates in particular, even among this population of public-sector workers with the same defined benefit pension plan, health plan, and retiree health coverage. Individual and district characteristics explain some, but not all, of the variation observed.}, number={4}, journal={Journal of Pension Economics and Finance}, publisher={Cambridge University Press (CUP)}, author={Clark, Robert L. and Hanson, Emma and Morrill, Melinda Sandler and Pathak, Aditi}, year={2017}, month={Oct}, pages={585} }
 @article{clark_newhouse_2016, title={Challenges facing public retirement plans INTRODUCTION}, volume={15}, ISSN={["1475-3022"]}, DOI={10.1017/s1474747215000499}, abstractNote={State and local retirement plans around the world are confronted with rising annual expenditures and increases in their unfunded liabilities. In response to these financial challenges, government policymakers have been making fundamental changes in their pension plans. In the USA, traditional defined benefit plans continue to cover most public employees, yet some states have adopted hybrid plans, others have shifted to defined contribution or cash balance plans, and still others are now giving employees’ choices over their retirement plan. And the US state and local governments that have retained their traditional plans continue to enact policy changes that reduce plan generosity. Examples of such modifications include reducing the benefit generosity parameter, increasing the number of years used to calculate the final average salary, raising the ages and increasing the years of service needed for early and normal retirement, and boosting employee contributions to help finance pension benefits. For years, economists have examined how retirement plans influence the behavior of workers in the private sector, but only recently has attention been shifted to an examination of how state and local plan reforms affect public employees.1 This special issue of the Journal of Pension Economics and Finance includes four articles that examine various aspects of state and local retirement plans and how they affect state and local government budgets, employee behavior, and economic well-being in retirement.2 Jeffrey Brown and George Pennacchi reexamine the important issue of how the liabilities of public retirement plans should be measured and reported. Selecting an appropriate discount rate is central to understanding the true magnitude of the unfunded liabilities of the pension plans of cities, counties, and states. Robert Clark, Emma Hanson, and Olivia S. Mitchell study the impact of}, number={3}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Newhouse, Joseph P.}, year={2016}, month={Jul}, pages={249–253} }
 @article{clark_hanson_mitchell_2016, title={Lessons for public pensions from Utah's move to pension choice}, volume={15}, ISSN={["1475-3022"]}, DOI={10.1017/s1474747215000426}, abstractNote={Abstract}, number={3}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Hanson, Emma and Mitchell, Olivia S.}, year={2016}, month={Jul}, pages={285–310} }
 @article{clark_hanson_morrill_pathak_2016, title={Supplemental plan offerings and retirement saving choices: an analysis of North Carolina school districts}, volume={15}, ISSN={["1475-3022"]}, DOI={10.1017/s1474747215000414}, abstractNote={Abstract}, number={3}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Hanson, Emma and Morrill, Melinda Sandler and Pathak, Aditi}, year={2016}, month={Jul}, pages={333–355} }
 @article{clark_maki_morrill_2014, title={Can Simple Informational Nudges Increase Employee Participation in a 401(k) Plan?}, volume={80}, ISSN={["2325-8012"]}, DOI={10.4284/0038-4038-2012.199}, abstractNote={We report results from a field experiment in which a randomized subset of newly hired workers at a large financial institution received a flyer containing information about the employer's 401(k) plan and the value of contributions compounding over a career. Younger workers who received the flyer were significantly more likely to begin contributing to the plan relative to their peers in the control group. Many workers do not participate in their employers' supplemental retirement savings programs, even though these programs offer substantial tax advantages and immediate returns due to matching contributions. From a survey of new hires, we find that many workers choose not to contribute to the plan because they have other financial priorities. However, some nonparticipants lack the financial literacy to appreciate the benefit. These findings indicate that simple informational interventions can nudge workers to participate in retirement saving plans and enhance individual well‐being and retirement income security.}, number={3}, journal={SOUTHERN ECONOMIC JOURNAL}, author={Clark, Robert L. and Maki, Jennifer A. and Morrill, Melinda Sandler}, year={2014}, month={Jan}, pages={677–701} }
 @article{clark_morrill_vanderweide_2014, title={Defined benefit pension plan distribution decisions by public sector employees}, volume={116}, ISSN={["0047-2727"]}, DOI={10.1016/j.jpubeco.2013.05.005}, abstractNote={Abstract Studies examining pension distribution choices have found that the tendency of private-sector workers is to select lump sum distributions instead of life annuities resulting in leakage of retirement savings. In the public sector, defined benefit pensions usually offer lump sum distributions equal to employee contributions, not the present value of the annuity. Thus, for terminating employees that are younger or have shorter tenures, the lump sum distribution amount may exceed the present value of the annuity. We discuss the factors that may influence the choice to withdraw funds or not in this environment. Using administrative data from the North Carolina state and local government retirement systems, we find that over two-thirds of public sector workers under age 50 separating prior to retirement from public plans in North Carolina left their accounts open and did not request a cash distribution from the pension system within one year of separation. Furthermore, the evidence suggests many separating workers, particularly those with short tenure, may be forgoing substantial monetary benefits due to lack of knowledge, understanding, or accessibility of benefits. We find no evidence of a bias toward cash distributions for public employees in North Carolina.}, journal={JOURNAL OF PUBLIC ECONOMICS}, author={Clark, Robert L. and Morrill, Melinda Sandler and Vanderweide, David}, year={2014}, month={Aug}, pages={73–88} }
 @article{clark_newhouse_cutler_2014, title={Health insurance and the American public sector labor market}, volume={38}, ISSN={0167-6296}, url={http://dx.doi.org/10.1016/J.JHEALECO.2014.08.004}, DOI={10.1016/J.JHEALECO.2014.08.004}, abstractNote={To characterize psychotropic medication use before and after traumatic brain injury (TBI) hospitalization among older adults. A secondary objective is to determine how receipt of indicated pharmacologic treatment for anxiety and post-traumatic stress disorder (PTSD) differs following TBI.Retrospective cohort.United States.Medicare beneficiaries aged ≥65 years hospitalized with TBI between 2006 and 2010 with continuous drug coverage for 12 months before and after TBI (N = 60,276).We obtained monthly psychotropic medication use by drug class and specific drugs from Medicare Part D drug event files.ICD-9 codes were used to define anxiety (300.0x) and PTSD (309.81).Average monthly prevalence of psychotropic medication use among all patients hospitalized for TBI was 44.8%; antidepressants constituted 73%. Prevalence of psychotropic medication use increased from 2006 to 2010. Following TBI, psychotropic medication use increased slightly (OR: 1.05; 95% CI: 1.03, 1.06.) Tricyclic antidepressant use decreased post-TBI (OR: 0.76; 95% CI: 0.73, 0.79) whereas use of the sedating antidepressants mirtazapine (OR: 1.31; 95% CI: 1.25, 1.37) and trazadone (OR: 1.11; 95% CI: 1.06, 1.17) increased. Antipsychotic (OR: 1.15; 95% CI: 1.12, 1.19) use also increased post-TBI. Beneficiaries newly diagnosed with anxiety (OR: 0.42; 95% CI: 0.36, 0.48) and/or PTSD (OR: 0.39; 95% CI: 0.18, 0.84) post-TBI were less likely to receive indicated pharmacologic treatment.Older adults hospitalized with TBI have a high prevalence of psychotropic medication use yet are less likely to receive indicated pharmacological treatment for newly diagnosed anxiety and PTSD following TBI.}, journal={Journal of Health Economics}, publisher={Elsevier BV}, author={Clark, Robert L. and Newhouse, Joseph P. and Cutler, David M.}, year={2014}, month={Dec}, pages={62–64} }
 @article{clark_mitchell_2014, title={How does retiree health insurance influence public sector employee saving?}, volume={38}, ISSN={["1879-1646"]}, DOI={10.1016/j.jhealeco.2014.03.014}, abstractNote={Economic theory predicts that employer-provided retiree health insurance (RHI) benefits have a crowd-out effect on household wealth accumulation, not dissimilar to the effects reported elsewhere for employer pensions, Social Security, and Medicare. Nevertheless, we are unaware of any similar research on the impacts of retiree health insurance per se. Accordingly, the present paper utilizes a unique data file on respondents to the Health and Retirement Study, to explore how employer-provided retiree health insurance may influence net household wealth among public sector employees, where retiree healthcare benefits are still quite prevalent. Key findings include the following: Most full-time public sector employees anticipate having employer-provided health insurance coverage in retirement, unlike most private sector workers.Public sector employees covered by RHI had substantially less wealth than similar private sector employees without RHI. In our data, Federal workers had about $82,000 (18%) less net wealth than private sector employees lacking RHI; state/local workers with RHI accumulated about $69,000 (or 15%) less net wealth than their uninsured private sector counterparts.After controlling on socioeconomic status and differences in pension coverage, net household wealth for Federal employees was $116,000 less than workers without RHI and the result is statistically significant; the state/local difference was not.}, journal={JOURNAL OF HEALTH ECONOMICS}, author={Clark, Robert L. and Mitchell, Olivia S.}, year={2014}, month={Dec}, pages={109–118} }
 @article{clark_morrill_vanderweide_2014, title={The effects of retiree health insurance plan characteristics on retirees’ choice and employers’ costs}, volume={38}, ISSN={0167-6296}, url={http://dx.doi.org/10.1016/j.jhealeco.2014.02.007}, DOI={10.1016/j.jhealeco.2014.02.007}, abstractNote={To moderate the rate of growth of retiree health insurance costs, employers can modify plans and move retirees into less expensive plans. We examine policy modifications implemented by the North Carolina State Health Plan. We investigate whether incentives produce the desired plan elections and whether these changes, along with cost shifting, produce the expected reductions in cost growth. Using individual-level administrative data, along with aggregated data on expenditures for retirees, we estimate the effects of the introduction and subsequent repeal of a Comprehensive Wellness Initiative for non-Medicare eligible retirees, as well as increases in coinsurance and copayments and the introduction of a premium for all retirees. Over a third of non-Medicare retirees shifted into the least generous plan between June 2009 and December 2012. The level effects on annual costs and unfunded accrued liabilities were relatively modest, but growth rates were diminished. Increases in the retiree premiums reduced the state's projected costs.}, journal={Journal of Health Economics}, publisher={Elsevier BV}, author={Clark, Robert L. and Morrill, Melinda Sandler and Vanderweide, David}, year={2014}, month={Dec}, pages={119–129} }
 @article{clark_matsukura_ogawa_2013, title={Low fertility, human capital, and economic growth: The importance of financial education and job retraining}, volume={29}, DOI={10.4054/demres.2013.29.32}, abstractNote={Background: International research has shown that workers have a rather low level of financial literacy. Financial literacy is associated with lifetime planning and saving for retirement. This article focuses on the role of financial literacy in the demand for human capital and on-the-job training among older workers in Japan. Workers with higher levels of financial literacy are more likely to demand human capital, plan to enter training programs, and desire to work after retirement. Objective: Does financial literacy affect the demand for additional human capital among older Japanese workers? How does the level of financial literacy affect the age of retirement and plans for working after retirement from a career job in Japan? Methods: This paper analyzes data from a national survey of Japanese employees. We estimate the effect of financial literacy on the demand for additional human capital to remain competitive for promotions and for finding employment after retirement. Results: Higher levels of financial literacy are associated with greater demand for additional human capital and for participation in on-the-job training programs among older workers in Japan. Conclusions: Given the rapid aging of the Japanese population and the decline in the total population, providing employment opportunities for older workers (ages 60 and older) is a key to sustaining economic growth and per capita income. The analysis indicates that greater levels of financial literacy are associated with a desire for more training and human capital. Thus, enhancing the level of financial literacy among older workers may be a key to maintaining economic wellbeing.}, journal={Demographic Research}, author={Clark, R. and Matsukura, R. and Ogawa, N.}, year={2013}, pages={865–884} }
 @article{clark_2013, title={The Predictable Surprise: The Unraveling of the U.S. Retirement System}, volume={12}, ISSN={["1474-7472"]}, DOI={10.1017/s1474747212000236}, abstractNote={An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.}, number={1}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert}, year={2013}, month={Jan}, pages={138–139} }
 @article{clark_morrill_allen_2012, title={Effectiveness of Employer-Provided Financial Information: Hiring to Retiring}, volume={102}, ISSN={["0002-8282"]}, url={http://www.scopus.com/inward/record.url?eid=2-s2.0-84863198523&partnerID=MN8TOARS}, DOI={10.1257/aer.102.3.314}, abstractNote={ Workers plan and save for retirement throughout their careers. Individuals must navigate complex financial instruments and understand public and employer-provided retirement plan characteristics. Beginning when a worker is first hired, most employers provide the option to contribute to retirement saving plans. As workers near retirement, they face many choices that have considerable consequences for their retirement income security. At these two important periods, employers can provide timely information assisting workers in making choices that optimize lifetime wellbeing. Our research, conducted in cooperation with several large employers, illustrates the importance of employer-provided education in increasing worker understanding of several retirement-related issues. }, number={3}, journal={AMERICAN ECONOMIC REVIEW}, author={Clark, Robert L. and Morrill, Melinda Sandler and Allen, Steven G.}, year={2012}, month={May}, pages={314–318} }
 @article{clark_morrill_allen_2012, title={THE ROLE OF FINANCIAL LITERACY IN DETERMINING RETIREMENT PLANS}, volume={50}, ISSN={["1465-7295"]}, url={http://www.scopus.com/inward/record.url?eid=2-s2.0-84867229400&partnerID=MN8TOARS}, DOI={10.1111/j.1465-7295.2011.00390.x}, abstractNote={Workers nearing retirement face many important, and often irreversible, choices. We collected detailed demographic and financial literacy data on over 1,500 workers nearing retirement at three large companies to assess how individuals are planning for retirement. Many respondents display limited knowledge and understanding of public and company‐provided retirement benefits. Controlling for basic demographics and wealth, we find that misconceptions about eligibility ages and plan generosity influence workers' expected age of retirement. Although retirement‐related decisions will affect workers' well‐being for the remainder of their lifetimes, many do not possess enough basic financial knowledge to confidently make optimal choices. (JEL J26, J320, J240)}, number={4}, journal={ECONOMIC INQUIRY}, author={Clark, Robert L. and Morrill, Melinda Sandler and Allen, Steven G.}, year={2012}, month={Oct}, pages={851–866} }
 @article{clark_craig_2011, title={Determinants of the generosity of pension plans for public school teachers, 1982-2006}, volume={10}, ISSN={["1474-7472"]}, DOI={10.1017/s1474747210000028}, abstractNote={Abstract}, number={1}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Craig, Lee A.}, year={2011}, month={Jan}, pages={99–118} }
 @article{brown_clark_rauh_2011, title={The economics of state and local pensions}, volume={10}, DOI={10.1017/s1474747211000138}, abstractNote={Abstract}, number={2}, journal={Journal of Pension Economics & Finance}, author={Brown, J. R. and Clark, R. and Rauh, J.}, year={2011}, pages={161–172} }
 @article{clark_morrill_2011, title={The funding status of retiree health plans in the public sector}, volume={10}, ISSN={["1475-3022"]}, DOI={10.1017/s1474747211000059}, abstractNote={Abstract}, number={2}, journal={JOURNAL OF PENSION ECONOMICS & FINANCE}, author={Clark, Robert L. and Morrill, Melinda Sandler}, year={2011}, month={Apr}, pages={291–314} }
 @misc{clark_2010, title={Pension policy: The search for better solutions}, volume={64}, number={1}, journal={Industrial & Labor Relations Review}, author={Clark, R. L.}, year={2010}, pages={205–206} }
 @article{clark_ogawa_kondo_matsukura_2010, title={Population Decline, Labor Force Stability, and the Future of the Japanese Economy}, volume={26}, ISSN={["0168-6577"]}, DOI={10.1007/s10680-009-9179-9}, number={2}, journal={EUROPEAN JOURNAL OF POPULATION-REVUE EUROPEENNE DE DEMOGRAPHIE}, author={Clark, Robert L. and Ogawa, Naohiro and Kondo, Makoto and Matsukura, Rikiya}, year={2010}, month={May}, pages={207–227} }
 @article{clark_2010, title={RETIREE HEALTH PLANS FOR PUBLIC SCHOOL TEACHERS AFTER GASB 43 AND 45}, volume={5}, ISSN={["1557-3060"]}, DOI={10.1162/edfp_a_00009}, abstractNote={ Most public elementary and high school teachers are covered by health insurance provided by their employer while they are employed. In most cases, these health plans are managed at the state level. At retirement, teachers with sufficient years of service are allowed to remain in the health plan. Retiree health plans for teachers vary widely across the country, with some states paying the full premium for the retired teacher while other states require that the retiree pay 100 percent of the premium. Recent changes in the accounting rules now mandate that public sector employers report the accrued liabilities associated with these plans. This article documents the unfunded liabilities of teacher retiree health plans in the various states, examines the reasons for differences in these liabilities, and considers how these plans might evolve in the future. }, number={4}, journal={EDUCATION FINANCE AND POLICY}, author={Clark, Robert L.}, year={2010}, pages={438–462} }
 @article{robinson_clark_2010, title={Retiree Health Insurance and Disengagement from a Career Job}, volume={31}, ISSN={["1936-4768"]}, DOI={10.1007/s12122-010-9091-4}, number={3}, journal={JOURNAL OF LABOR RESEARCH}, author={Robinson, Christina and Clark, Robert}, year={2010}, month={Sep}, pages={247–262} }
 @article{clark_ghent_2010, title={Strategic HR Management with an Aging Workforce: Using Demographic Models to Determine Optimal Employment Policies}, volume={29}, ISSN={["0167-5923"]}, DOI={10.1007/s11113-009-9143-8}, number={1}, journal={POPULATION RESEARCH AND POLICY REVIEW}, author={Clark, Robert L. and Ghent, Linda S.}, year={2010}, month={Feb}, pages={65–80} }
 @article{clark_sabelhaus_2009, title={How Will the Stock Market Crash Affect the Choice of Pension Plans?}, volume={62}, ISSN={["0028-0283"]}, DOI={10.17310/ntj.2009.3.08}, abstractNote={For the past three decades, there has been a significant movement away from defined benefit pension plans in the private sector toward greater use of defined contribution plans, especially 401(k) plans. In contrast, retirement plans in the public sector remain primarily defined benefit plans. The stock market crash of 2008 had a dramatic effect on pension balances across all types of plans; private defined benefit, private defined contribution, and state and local plan assets all fell by more than 25 percent in 2008. This paper examines the trends in plan type up to 2008, the impact of the crash on pension holdings, and the likely responses by employers and employees to the current economic climate.}, number={3}, journal={NATIONAL TAX JOURNAL}, author={Clark, Robert L. and Sabelhaus, John}, year={2009}, month={Sep}, pages={477–496} }
 @article{clark_2009, title={Will Public Sector Retiree Health Benefit Plans Survive? Economic and Policy Implications of Unfunded Liabilities}, volume={99}, ISSN={["1944-7981"]}, DOI={10.1257/aer.99.2.533}, abstractNote={Recent articles have reported a large and growing financial crisis associated with retiree health plans offered by state and local governments, and have expressed alarm over their impact on the financial status of these governmental
units (Goldman Sachs 2007; David Zion and Amit Varshney 2007). The concern about the unfunded liabilities of retiree health plans follows from a change in the public accounting rules issued by the Governmental Accounting Standards Board (GASB). GASB Statement No. 45 requires state and local governments to report unfunded accrued liabilities and annual required contributions needed to fully fund the retiree health promises. The GASB 45 statements produced by state governments indicate that unfunded liabilities for state employees and retirees total approximately $500 billion. This
does not include additional liabilities associated with retiree health plans for local governments and public school teachers with plans that are not managed at the state level. The explicit acknowledgement of these liabilities and their
absolute and relative size has created considerable concern and debate among economists, policymakers, and voters. This article presents data from state actuarial reports on the size of retiree health liabilities, examines the key assumptions used to determine the unfunded liabilities, and then assesses the potential future of retiree health plans in the public sector.}, number={2}, journal={AMERICAN ECONOMIC REVIEW}, author={Clark, Robert L.}, year={2009}, month={May}, pages={533–537} }
 @article{clark_ghent_2008, title={Mandatory retirement and faculty retirement decisions}, volume={47}, ISSN={["0019-8676"]}, DOI={10.1111/j.1468-232X.2008.00510.x}, abstractNote={As a result of the 1986 Age Discrimination in Employment Act, colleges and universities were no longer allowed to impose mandatory retirement on faculty members at age seventy after 1994. This paper estimates the change in retirement rates of faculty before and after the ending of mandatory retirement using data from the University of North Carolina (UNC) system. The analysis reveals a sharp decline in the probability of faculty at UNC retiring at age seventy once the university was unable to impose forced retirement.}, number={1}, journal={INDUSTRIAL RELATIONS}, author={Clark, Robert L. and Ghent, Linda S.}, year={2008}, month={Jan}, pages={153–163} }
 @article{clark_ogawa_lee_matsukura_2008, title={Older workers and national productivity in Japan}, volume={34}, journal={Population and Development Review}, author={Clark, R. L. and Ogawa, N. and Lee, S. H. and Matsukura, R.}, year={2008}, pages={257–274} }
 @misc{clark_2007, title={Aging gracefully: Ideas to improve retirement security in America.}, volume={60}, number={4}, journal={Industrial & Labor Relations Review}, author={Clark, R. L.}, year={2007}, pages={590–592} }
 @article{clark_ghent_mcdermed_2006, title={Pension plan choice among University faculty}, volume={72}, ISSN={["2325-8012"]}, DOI={10.2307/20111833}, abstractNote={A pension plan is an important component of lifetime earnings, and thus the decision between a defined benefit pension and a defined contribution pension is an important one. This study uses data from annual faculty censuses of the University of North Carolina system, where new hires are given a choice between a state defined benefit pension and a defined contribution plan. Newly hired faculty members who are older, female, and nonwhite are found to be more likely to choose the defined benefit plan. Some differences across university Carnegie classification are also seen. In addition, a declining trend in defined benefit participation is shown.}, number={3}, journal={SOUTHERN ECONOMIC JOURNAL}, author={Clark, RL and Ghent, LS and McDermed, AA}, year={2006}, month={Jan}, pages={560–577} }
 @article{clark_d'ambrosio_mcdermed_sawant_2006, title={Retirement plans and saving decisions: the role of information and education}, volume={5}, ISSN={1474-7472 1475-3022}, url={http://dx.doi.org/10.1017/S1474747205002271}, DOI={10.1017/S1474747205002271}, abstractNote={Increasingly, individuals are being required to take more responsibility for their own retirement saving. Lifecycle theories of resource allocation provide a framework to examine work, retirement, consumption, and saving decisions. However, optimal decision making requires adequate knowledge of financial mathematics, risk and return properties of investments, and expectations concerning wage growth and tax policy. This paper explores the response of individuals to financial education seminars. Using data from three surveys of participants in seminars offered by TIAA-CREF, we estimate changes in retirement goals and saving behavior after the respondents have attended a seminar which discusses keep components of saving for retirement. The results indicate that financial education can produce significant changes in how individuals think and plan for retirement. Throughout the analysis, women were found to be more responsive to the seminar and were more likely to raise their desired retirement age, increase their target income replacement goal, and alter their savings behavior.}, number={1}, journal={Journal of Pension Economics and Finance}, publisher={Cambridge University Press (CUP)}, author={Clark, Robert L. and d'Ambrosio, Madeleine B. and McDermed, Ann A. and Sawant, Kshama}, year={2006}, month={Feb}, pages={45–67} }
 @book{the new balancing act in the business of higher education_2006, ISBN={1845427319}, publisher={Cheltenham, UK; Northampton, MA: E. Elgar}, year={2006} }
 @article{allen_clark_ghent_2005, title={Managing a phased retirement program: The case of UNC}, volume={2005}, ISSN={0271-0560 1536-0741}, url={http://dx.doi.org/10.1002/he.196}, DOI={10.1002/he.196}, abstractNote={Abstract}, number={132}, journal={New Directions for Higher Education}, publisher={Wiley}, author={Allen, Steven G. and Clark, Robert L. and Ghent, Linda S.}, year={2005}, pages={47–60} }
 @book{recruitment, retention and retirement in higher education: building and managing the faculty of the future_2005, ISBN={184542185X}, publisher={Cheltenham, UK; Northampton, MA: Edward Elgar Pub.}, year={2005} }
 @article{clark_d'ambrosio_2005, title={Recruitment, retention, and retirement: Compensation and employment policies for higher education}, volume={31}, ISSN={["0360-1277"]}, DOI={10.1080/03601270590921663}, abstractNote={ABSTRACT Faculties are aging along with the rest of society. Low retirement rates and slow growth limit the number of new hiring opportunities in many institutions. Universities face a series of common challenges that will shape higher education in the 21st century. In order to maintain high quality faculties in the coming years, universities must develop compensation policies and employment practices that are appropriate for the new economic and demographic environment. This paper examines existing human resources (HR) policies and considers potential modifications that will enable institutions to recruit, retain, and retire faculty in the coming years. The analysis reviews the soaring cost of health insurance for active and retired faculty and how these plans are being amended. We also review the widespread adoption of phased retirement plans and the use of early retirement programs as components of HR policy. The increasing reliance on nontenure track faculty is also described. The analysis focuses on the challenges that universities face in the current economic and demographic conditions and the methods that administrators can adopt to fulfill their teaching and research missions. The paper presents the results from a national conference consisting of new research and intense discussion by scholars, administrators, policymakers, and HR consultants.}, number={5}, journal={EDUCATIONAL GERONTOLOGY}, author={Clark, RL and d'Ambrosio, MB}, year={2005}, month={May}, pages={385–403} }
 @book{reinventing the retirement paradigm_2005, ISBN={0199284601}, publisher={Oxford; New York: Oxford University Press}, year={2005} }
 @article{clark_schieber_2004, title={Adopting cash balance pension plans: implications and issues}, volume={3}, ISSN={1474-7472 1475-3022}, url={http://dx.doi.org/10.1017/S1474747204001738}, DOI={10.1017/S1474747204001738}, abstractNote={Over the past 15 to 20 years, many companies have converted their traditional defined benefit plans to cash balance or pension equity plans. In a cash balance plan, the worker's ‘account’ is based on an annual contribution rate for each year of employment, plus accumulating interest on annual contributions. A pension equity plan defines the benefit as a percentage of final average earnings for each year of service under the plan. Both types of plans specify the benefit as a lump sum payable at termination. In contrast, traditional defined benefit plans specify benefits in terms of an annuity payable at retirement. From the employees' perspective, cash balance and pension equity plans look somewhat like defined contribution plans. However, they are funded, administered, and regulated as defined benefit plans.}, number={3}, journal={Journal of Pension Economics and Finance}, publisher={Cambridge University Press (CUP)}, author={Clark, Robert L. and Schieber, Sylvester J.}, year={2004}, month={Nov}, pages={271–295} }
 @misc{clark_2004, title={India Working: Essays on Society and Economy}, volume={15}, ISSN={1049-0078}, url={http://dx.doi.org/10.1016/j.asieco.2004.03.002}, DOI={10.1016/j.asieco.2004.03.002}, number={2}, journal={Journal of Asian Economics}, publisher={Elsevier BV}, author={Clark, Robert}, year={2004}, month={Apr}, pages={441–442} }
 @article{clark_2004, title={Liabilities, debts, revenues, and expenditures: Accounting for the actuarial balance of Social Security}, volume={41}, number={1}, journal={Harvard Journal on Legislation}, author={Clark, R. L.}, year={2004}, pages={161–171} }
 @article{allen_clark_ghent_2004, title={Phasing into retirement}, volume={58}, url={http://www.scopus.com/inward/record.url?eid=2-s2.0-9744261743&partnerID=MN8TOARS}, DOI={10.1177/001979390405800106}, abstractNote={To help workers navigate the transition from work to retirement more effectively, employers have been launching phased retirement programs, which allow older employees to work part-time and receive full retirement benefits. This paper examines the experience of the phased retirement system for tenured faculty in the University of North Carolina system over the years 1996–98. After phased retirement was introduced, there was a sizable increase in the overall separation rate in the system. The key finding from an empirical analysis of the retirement decision as a function of pension incentives, employee performance, demographics, and campus characteristics is that the odds of entering phased retirement were strongly and inversely related to employee performance, as measured by recent pay increases.}, number={1}, journal={Industrial and Labor Relations Review}, author={Allen, Steve and Clark, R.L. and Ghent, L.S.}, year={2004}, pages={112–127} }
 @article{clark_2004, title={Social security financing: Facts, fantasies, foibles, and follies}, volume={94}, ISSN={["1944-7981"]}, DOI={10.1257/0002828041301678}, abstractNote={Reforming Social Security to restore its financial balance is one of the most important public policy issues of the 21st century. Reform is essential whether one favors maintaining the basic structure of the current system or transforming this retirement program to include individual accounts. The needed national debate on Social Security must be based on the best, unbiased measures of the financial status of the program and on appropriate economic research. Unfortunately, projections, data, and research are often misused in reform debates. Even some “experts” are often uninformed about various aspects of the current and future financial status of Social Security. This paper highlights misconceptions and focuses on the facts of Social Security financing.}, number={2}, journal={AMERICAN ECONOMIC REVIEW}, author={Clark, RL}, year={2004}, month={May}, pages={182–186} }
 @book{clark_craig_wilson_2003, title={A history of public sector pensions in the United States}, ISBN={0812237145}, publisher={Philadelphia: University of Pennsylvania Press}, author={Clark, R. L. and Craig, L. A. and Wilson, J. W.}, year={2003} }
 @article{clark_quinn_2002, title={Patterns of work and retirement for a new century}, volume={26}, number={2}, journal={Generations (San Francisco, Calif.)}, author={Clark, R. L. and Quinn, J. F.}, year={2002}, pages={17–24} }
 @article{ghent_allen_clark_2001, title={The impact of a new phased retirement option on faculty retirement decisions}, volume={23}, ISSN={["0164-0275"]}, url={http://www.scopus.com/inward/record.url?eid=2-s2.0-0034781270&partnerID=MN8TOARS}, DOI={10.1177/0164027501236003}, abstractNote={Life-cycle theory suggests that workers would prefer to gradually enter retirement from their career jobs. Using data from 15 campuses of the University of North Carolina system, this study provides a first look at the effects of the introduction of a phased retirement program on faculty retirement decisions. The authors’ analysis indicates that most of the faculty members choosing phased retirement would have likely remained full-time at their universities if the phased retirement option had not been available.}, number={6}, journal={RESEARCH ON AGING}, author={Ghent, LS and Allen, SG and Clark, RL}, year={2001}, month={Nov}, pages={671–693} }
 @book{clark_hammond_2001, title={To retire or not?: Retirement policy and practice in higher education}, ISBN={081223572X}, publisher={Philadelphia: University of Pennsylvania Press}, author={Clark, R. L. and Hammond, P. B.}, year={2001} }
 @misc{clark_2000, title={Pension plans and employee performance: Evidence, analysis, and policy.}, volume={38}, number={1}, journal={Journal of Economic Literature}, author={Clark, R. L.}, year={2000}, pages={148–149} }
 @article{clark_york_anker_1999, title={Economic development and labor force participation of older persons}, volume={18}, number={5}, journal={Population Research and Policy Review}, author={Clark, R. L. and York, E. A. and Anker, R.}, year={1999}, pages={411–432} }
 @article{clark_pitts_1999, title={Faculty choice of a pension plan: Defined benefit versus defined contribution}, volume={38}, ISSN={["0019-8676"]}, DOI={10.1111/0019-8676.00108}, abstractNote={Worker preferences between defined‐benefit and defined‐contribution pension plans are estimated using a sample of faculty members at North Carolina State University. Newly hired faculty must decide between the state retirement plan (a final pay, defined‐benefit plan) and one of three defined‐contribution plans (TIAA/CREF, VALIC, Lincoln National). This analysis allows the authors to estimate the choice of a pension plan holding constant the place of employment. The study uses both university employment records and a faculty survey to examine the factors that determine the choice of a pension.}, number={1}, journal={INDUSTRIAL RELATIONS}, author={Clark, RL and Pitts, MM}, year={1999}, month={Jan}, pages={18–45} }
 @article{clark_1998, title={Retirement policy for an aging society}, volume={29}, number={1998}, journal={American Sociologist (Albany, N.Y.)}, author={Clark, R. L.}, year={1998} }
 @article{burkhauser_clark_suzman_1998, title={Symposium on work, retirement and wealth: Current data and future needs: an international perspective}, volume={17}, ISSN={["0726-4240"]}, DOI={10.1111/j.1741-6612.1998.tb00847.x}, abstractNote={Abstract.  This symposium brought together a unique set of scholars who are both actively involved in ageing research and in the creation of the new generation of multiperiod social science‐based longitudinal datasets for research. The symposium provided a description of the new data and examples of its use with respect to the work, retirement and wealth of older persons. The datasets discussed included: the US Health and Retirement Study, the Netherlands Household Panel Study, the German Socioeconomic Panel, the US Panel Study of Income Dynamics, and several East and Southeast Asian datasets.}, number={1}, journal={AUSTRALIAN JOURNAL ON AGEING}, author={Burkhauser, RV and Clark, R and Suzman, R}, year={1998}, pages={11–13} }
 @article{clark_ogawa_1997, title={Transitions from career jobs to retirement in Japan}, volume={36}, ISSN={["0019-8676"]}, DOI={10.1111/0019-8676.511997014}, abstractNote={Most Japanese workers are required to retire from their career firm by age 60. Yet the labor force participation rate of older men in Japan is the highest among industrialized countries, and most Japanese express a strong desire to continue working past age 60. One explanation for this paradox is that many firms reemploy their own retirees or provide them with assistance in finding new jobs with their subsidiaries or client firms.}, number={2}, journal={INDUSTRIAL RELATIONS}, author={Clark, RL and Ogawa, N}, year={1997}, month={Apr}, pages={255–270} }
 @book{clark_1991, title={Retirement systems in Japan}, ISBN={0256091412}, journal={Homewood, IL: Published for the Pension Research Council of the Wharton School by Irwin, c1991. (Ralph H. Blanchard memorial endowment series ; v.4)}, author={Clark, R. L.}, year={1991} }
 @misc{clark_1984, title={Beyond Sixty-Five: The Dilemma of Old Age in America's Past. By Carole Haber. New York: Cambridge University Press, 1983. Pp. ix, 181. $19.95.}, volume={44}, ISSN={0022-0507 1471-6372}, url={http://dx.doi.org/10.1017/S0022050700033428}, DOI={10.1017/S0022050700033428}, abstractNote={An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.}, number={4}, journal={The Journal of Economic History}, publisher={Cambridge University Press (CUP)}, author={Clark, Robert L.}, year={1984}, month={Dec}, pages={1140–1141} }
 @misc{clark_1979, title={Old Age in the New Land: The American Experience since 1790. By W. Andrew Achenbaum. Baltimore: The Johns Hopkins Press, 1979. Pp. xii, 237. $13.95.}, volume={39}, ISSN={0022-0507 1471-6372}, url={http://dx.doi.org/10.1017/S002205070009255X}, DOI={10.1017/S002205070009255X}, abstractNote={An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.}, number={2}, journal={The Journal of Economic History}, publisher={Cambridge University Press (CUP)}, author={Clark, Robert}, year={1979}, month={Jun}, pages={583–583} }