CURRICULUM VITAE OF YUNG-PING CHEN



CURRICULUM VITAE OF YUNG-PING CHEN (September 2011)

PERSONAL DATA

Name, Title, and Address: Yung-Ping Chen

Fellow, Gerontology Institute

Professor Emeritus of Gerontology (Frank J. Manning Eminent Scholar’s Chair in Gerontology, 1988-2009)

John W. McCormack Graduate School of Policy

and Global Studies

University of Massachusetts Boston

Boston, MA 02125-3393, USA

E-mail: YPChen@

Date of Birth: November 24, 1930 (Shanghai, China; naturalized U.S. citizen, March 23, 1992)

Marital Status: Married (wife Ching-hwa Hsiao Chen) with three children

Education and Training

Shanghai High School, Shanghai, China, 1948

Soochow University Law School (Shanghai, China), International Law, autumn semester, 1948

National Taiwan University (Taipei, Taiwan, China), B.A. in economics, 1952

Basic military training & one-year tour of duty (mandatory for college graduates), 1952-1954

National civil service examination for diplomatic and consular services & internship in Ministry of Foreign Affairs, Taipei, Taiwan, China, 1954-55

University of Washington (Seattle, Washington, USA), M.A. (1957) & Ph.D. (1960) in economics

Hahnemann University (Philadelphia, Pennsylvania, USA), M.S. program in mental health sciences, 1985-87

Honors and Awards

Valedictorian, Shanghai High School, Shanghai, China, 1948

Lin Undergraduate National (four-year) Scholarship, 1948-52

Pan Xenia Honor Society (international trade), 1956

Omicron Delta Epsilon (International Honor Society in Economics), 1974

Phi Tau Phi Scholastic Honor Society, 1974

Warren C. Scoville Distinguished Teaching Award (economics, University of California, Los Angeles, 1974)

Outstanding Faculty Award, Omicron Delta Epsilon (International Honor Society in Economics, 1975)

Fellow, Gerontological Society of America, 1980

Founding Member, National Academy of Social Insurance, 1988

Sigma Phi Omega (National Academic Honor and Professional Society in Gerontology), 2000

Fellow, World Demographic Association, 2006

John E. Hanson Memorial Prize, Actuarial Foundation, 2009

Robert W. Kleemeier for outstanding research, Gerontological Society of America, 2010

Teaching and Research Positions

06/2009-to present Fellow, Gerontology Institute, and professor emeritus of gerontology,

University of Massachusetts Boston, Boston, MA

09/1988-to 0/6/2009 Professor of gerontology and Frank J. Manning Eminent Scholar's Chair,

University of Massachusetts Boston, Boston, MA (Concurrently serving as

deputy provost, August 1991 to December 1992, and special advisor on

research and scholarship to the provost, December 1992 to June 1994,

University of Massachusetts Boston; visiting professor (honorary; not in

residence), University of Hong Kong, January 2000-December 2002)

09/1978-08/1988 Professor of economics and Frank M. Engle Distinguished Chair in

Security Research (Concurrently serving as research

director, McCahan Foundation for Research in Economic Security),

The American College, Bryn Mawr, PA (at various times

during 1978-1988, visiting faculty at Bryn Mawr College; University

of Pennsylvania; Villanova University; Nagoya City University in

Japan; and Feng Chia University in Taiwan)

1964-1980 Assistant and associate professor, Department of Economics, University of California, Los Angeles (UCLA), Los Angeles, CA (at various times during 1964-1978, concurrently research associate at the Institute of Industrial Relations, UCLA; visiting faculty at the University of Southern California, Los Angeles; and Nagoya City University, Japan; 1977-83; on leave of absence as professor of economics in Bryn Mawr, PA, 1978-1980)

1963-1964 Brookings research professor, economic studies program, Brookings Institution, Washington, D.C. (Concurrently research associate at the Social Systems Research Institute and department of economics at the University of Wisconsin, Madison, WI)

1960-1964 Assistant and associate professor, department of economics and business, Seattle Pacific College, Seattle, WA (on leave of absence, 1963-64)

1956-1960 Teaching assistant, research assistant, research instructor, instructor in economics, department of economics, University of Washington, Seattle, WA

1951-1952 Teaching assistant (in accounting) while a college senior in the department of economics, National Taiwan University, Taipei, Taiwan, China

Short-Term Technical Assistance to Selected Governmental Agencies in the U.S., Canada, and Hong Kong:

City of Los Angeles, California; County of Los Angeles, California; California State Assembly; Wisconsin State Department of Revenue; Wisconsin State Tax Commission; Michigan State Department of Economic Development; Michigan Governor’s Commission on Aging; Pennsylvania Governor’s Office on Aging; Texas Legislative Committee on Housing; Washington State Commission on Aging; Washington State Legislature (House); California Commission on Aging; California Conference on Inflation; President’s Summit Conference on the Economy; White House Public Forum on Domestic Policy; President’s Commission on Pension Policy; National Commission on Social Security Reform; 1971 White House Conference on Aging; 1981 White House Conference on Aging; 1995 White House Conference on Aging; 2005 White House Conference on Aging; 1998 White House Conference on Social Security; Alberta Provincial Department of Housing and Public Works, Canada; Economic Council of Canada; Canadian Council on Social Development; General Mortgage and Housing Corporation, Government of Canada; Department of Social Welfare, Hong Kong.

Longer-Term Service to Governmental Agencies in the United States:

Member, Los Angeles County task force on senior citizens, California

Chairman, California State task force on income of the aging

Member, Mayor’s Senior Citizens Committee, Los Angeles, California

Commissioner, Commission on Older Americans, City of Santa Monica, California

Consultant, technical committee on income, 1971 White House Conference on Aging

Member, Post-Conference Board’s study panel, 1971 White House Conference on Aging

Member, expert panel of actuaries and economists, 1979 Advisory Council on Social Security

Consultant, technical committee on retirement income, 1981 White House Conference on Aging

Member, advisory panel on older worker demonstration programs, Employment and Training Administration, U.S. Department of Labor

Member, expert panel on linking reverse mortgages to long-term care expenses for joint public and private initiatives by CMS (Center for Medicare and Medicaid Services), Robert Wood Johnson Foundation, and the National Council on the Aging

Consultant, pro bono, to Subcommittee on Social and Community-based Services and Consumer Issues, Policy Committee of the 2005 White House Conference on Aging

Selected Presentations

Distinguished Lecture, University of Massachusetts Boston, 1989

Susan B. Abell Annual Memorial Lecture, Milton Visiting Nurse and Social Services League, Milton, Massachusetts, 1990

Principal speaker, national conference on family and work, Statistics Canada, Ontario, Canada, 1991

Distinguished Lecturer, University of Puerto Rico, San Juan, Puerto Rico, 1991

Plenary speaker, First International Conference of Long-Term Care Case Management, Seattle, Washington, 1992

Principal speaker, Institute of Medicine Herman M. Somers Memorial Symposium, 1992

Official Visitor, Ministry of Education, Taipei, Taiwan, Republic of China, 1993

Keynote speaker, Jamaica Council on Aging, Kingston, Jamaica, 1994

Plenary speaker, Social and Behavioral Sciences, 1995Asia/Oceania Congress of Gerontology, Hong Kong

Christian A. Johnson Lecturer, Middlebury College, Vermont, 1995

Public lectures, at Academy of Actuaries and at Insurance Management Research Institute, in Taipei, Taiwan, Republic of China, 1996

Public lectures, at UCLA School of Public Policy and Social Research and at School of Gerontology, University of Southern California, 1997

Roybal Lecturer, Roybal Institute of Applied Gerontology, California State University at Los Angeles, 1997

Principal speaker, Financing of long-term health and community care, Australian Institute of Actuaries, Sydney, Australia, 1997

Special speaker, Retirement income provisions, University of Auckland, New Zealand, 1997.

Keynote speech, annual conference of the Ireland Council on Retirement Planning, Dublin,

Ireland, 1997

Public lectures, Department of Social Welfare, Special Administrative Region (Hong Kong), People’s Republic of China, 1998

Keynote speaker, Mayor’s Senior Summit (kick-off event for United Nations International Year of Older Persons, 1999), Houston, TX, 1998

Lecture on Social Security, at joint session sponsored by Center for the Study of Demography and Economics, University Center on Aging, and School of Social Welfare, University of California,

Berkeley, 1998

Issue Expert on Social Security at Biennial Convention of the National Indian Council on Aging in Bismarck, ND, 1998.

Luncheon keynote at AARP/TIAA Business Partnership Advisory Council, in New York, 1998

Special Lectures at American Society on Aging annual conferences, 1997, 1998, 1999, 2000

Keynote speaker, Global Conference on Ageing, International Federation on Ageing, Montreal,

Canada,1999.

Summary speaker (on long-term care in six countries represented) at the Conference on long-

term care for the elderly at the turn of new century: An international experience, co-sponsored

by Centre on Ageing, the University of Hong Kong and the Elderly Commission of Hong Kong,

2000

Principal speaker, Opportunities and limitations of Mandatory Provident Fund, Centre on

Ageing, the University of Hong Kong, 2000

Plenary speaker, Second Asia Regional Conference on Social Security, Hong Kong, 2000

Keynote speaker, annual Congress of Hong Kong Association of Gerontology, Hong Kong, 2000

Keynote speaker, expert meeting on long-term care insurance, Centre on Ageing, University of Hong Kong, 2000

Distinguished Lecturer, Institute on Aging, University of North Carolina, Chapel Hill, 2003

Briefing (on Policy Implications of Family Changes) at State House of Hawaii, co-sponsored by the Center for the Family, University of Hawaii; Office of Elder Affairs of the State of Hawaii; and Women’s Caucus of Hawaii State Legislature, 2004

Summary speaker (on balancing private and collective responsibilities for retirement security), Duke University Center for Demographic Studies, 2004

Special presentation (on intragenerational model of funding long-term care), International Workshop on the Economic Implications of Demographic Aging, East-West Center, University of Hawaii, 2004

Keynote speaker, Symposium on Aging and the Family, Seattle Pacific University, 2005

Briefing for the Hawaii Employers Council on the benefits and costs of phased retirement, 2006

Briefing for the Economic Committee of the National Policy Council of AARP, 2006

Principal speaker on longevity risks at the European Union Geriatric Medicine Society, 2006

Co-organizer and moderator, two workshops on social security and healthcare, Consulate General of

Switzerland (Boston) and Embassy of Switzerland (Washington, DC), 2007

Co-organizer and chair, Pensions in the Developing Countries, World Ageing and Generations Congress, 2008

Co-organizer and chair, Symposium on Silver Workers, World Congress of Gerontology and Geriatrics, 2009

Other Activities

Member, International Editorial Board (on pension reforms) of the Retirement Policy and Research

Centre, Business School, University of Auckland, New Zealand (current)

Member, board of advisors, Association for Generational Equity (current)

Member, board of advisors (social insurance), China Foundation (current)

Member, academic advisory council for the Frank M. Engle Distinguished Chair in Economic Security,

American College, Bryn Mawr, PA (current)

Editorial board member, Journal on Social Security, Pensions and Retirement Income (current)

Member, board of directors, National Council on the Aging (1983-2005)

Member, board of directors, Overseas Chinese Institute on Aging (2002-2005)

Member, board of advisors, Center on Global Aging (1996-2011; affiliate member since 2011)

Visiting Scholar, National Academy of Social Insurance, 1989

Chair, Economics of Aging Formal Interest Group, Gerontological Society of America, 1992-93

Founding Editor, Newsletter on Economics of Aging, Gerontological Society of America, 1988-93

Co-convener and chair, Invitational Roundtable on Social Security Reform, 1996

Member, national advisory board, Americans Discuss Social Security, 1997-1999

Convener and chair, Town Hall Meetings on Social Security Reform, 1998 and 1999

Member, Trust Committee and later board of directors, and co-chair, board committee on global aging

policy and research, International Senior Citizens Association (1975-2000)

Member, United Nations Non-Governmental Organizations Committee on Aging in New York (1980-

2001)

Editorial board member, Ageing International, International Federation on Ageing (1996-2001)

Research Grants and Fellowships

U.S. Department of Housing and Urban Development; U.S. Department of Health, Education, and Welfare; U.S. Department of Labor; U.S. National Institutes of Health; U.S. National Institute on Aging; U.S. National Institute of Child Health and Human Development; U.S. Administration on Aging; Federal Home Loan Bank Board; California State Department of Mental Hygiene; Ford Foundation Faculty Research Fellowships; Brookings Institution; The W. E. Upjohn Institute for Employment Research; American Risk and Insurance Association; The Harry J. Loman Foundation; Ford Foundation International and Comparative Studies Program; Foundation for Research in Economics and Education; Gerontological Society of America; Beverly Foundation; National Council on the Aging; AARP Andrus Foundation; TIAA-CREF (Teacher Insurance and Annuity Association-College Retirement Equities Fund); Home Care Research Initiative/Robert Wood Johnson Foundation; Georgetown University Long-Term Care Funding Options Project; Public Policy Institute, AARP.

Papers and Publications (1960-2011)

Chen, Y-P., “Living Longer, So Should We Work Longer?—A Comprehensive Aging Policy Needed.”

Draft paper as Kleemeier Award Lecture, Gerontological Society of America, scheduled for November 20, 2011.

Chen, Y-P., “Future of Long-Term Care Funding: Relative Roles of Social Insurance, Private Insurance, Personal Payment and Public Assistance.” Draft paper for annual conference of Society of Actuaries, October 19, 2011.

St. John, Susan & Y-P Chen, “Aging of the Elderly: An Intragenerational Funding Approach to Long-Term Care.” European Papers on the New Welfare (15), pp. 29-39. October 2010.

Chen, Y-P., “Social Security’s Family Benefits and the Fiscal Commission.” Testimony presented to the National Commission on Fiscal Responsibility and Reform. June 24, 2010.

Chen, Y-P., “Extending Work Life and Enlarging Labor Supply: Flexible Work Arrangements for All Workers.” Draft paper for Society of Actuaries. October 2010.

Chen, Y-P., E. Wadensjo & A. Tull. “Potential Labor Supply and Flexible Work Options for All Workers: An Exploratory Essay,” European Papers on the New Welfare (11), pp. 49-57. 2009.

Forman, J. B. & Y-P Chen. “Optimal Retirement Age.” New York University Review of Employee Benefits and Compensation, Vol II, Chapter 14, pp. 14-1 to 14-36. 2008.

Chen, Y-P. & J.C. Scott. “Phased Retirement and Reduction of Work in Later Career,” Work

and Family Encyclopedia. Sloan Foundation. 2008.

Chen, Y-P. “Mental Health: Another Dimension of Health and Ageing.” European Papers on the New Welfare. (8): 106-108. 2007.

Chen, Y-P. “A Comment on Flexible Work Options for All.” European Papers on the New Welfare, September 2007. (Reprinted in Horizons: Policy Research Initiative, Government of Canada. 9(4), 24-25. 2007.)

Chen, Y-P. & J. Turner. “Raising the Retirement Age in OECD Countries.” Work Options for Older Americans. (Eds. T. Ghilarducci and J. Turner), University of Notre Dame Press. Notre Dame, IN. pp. 359-369. 2007.

Chen, Y.-P. & J.C. Scott. “Phased Retirement: Who Opts for It and Toward What End?” Italian edition of European Papers on the New Welfare. (6): 16-28. 2007.

Chen, Y-P. & J. Turner. “Economic Resources: Implications for Aging Policy in Asia.” Handbook of Asian Aging. (Eds. H. Yoon and J. Hendricks), Baywood Publishing Co. pp. 67-90. 2006.

Chen, Y-P. & D. Colander. “Economics: Society.” Encyclopedia of Gerontology, 2nd edition. (Ed. J. E. Birren.). Academic Press, pp. 455-462, 2006.

Chen, Y-P. & R. W. McConaghy. “Home Equity Conversion.” Encyclopedia of Aging, 4th edition. (Ed. Richard Schulz.). New York. Springer Publishing Company, pp. 523-525. 2006.

Chen, Y-P. & L. W. Klud. “Individual Retirement Arrangements (IRAs).” Encyclopedia of Aging, 4th edition. (Ed. Richard Schulz.). New York. Springer Publishing Company, pp. 576-580. 2006.

Chen, Y-P. “Long-Term Care: A Key Issue for the 2005 White House Conference on Aging.” European Papers on the New Welfare, February, pp. 77-87. 2006.

Chen, Y-P. & J. C. Scott. “Phased Retirement: Who Opts for It and Toward What End?” (Publication ID: 2006-01, Public Policy Institute, AARP). 2006.

Chen, Y-P. “Financial Risk of Longevity: The Case of Long-Term Care.” Health and Ageing Bulletin, International Association for the Study of Insurance Economics, Geneva, Switzerland, pp. 2-4. 2005.

Chen, Y-P. Statement on “How to Create a Social Insurance Program for Basic Long-Term Care Coverage,” Hearing on the Retirement Policy Challenges and Opportunities of our Aging Society, Ways and Means Committee, U.S. House of Representatives, May 19. 2005.

Chen, Y-P. Mission statement of the “Subcommittee on Social and Community-based Services and Consumer Issues” of the Policy Committee of the 2005 White House Conference on Aging. September 24, 2004.

Chen, Y-P. “Funding Long-Term Care: Applications of the Trade-Off Principle in Both Public and Private Sectors.” Journal of Aging and Health, 15(1), 15-44. 2003.

Chen, Y-P. & J.C. Scott. “Gradual Retirement: An Additional Option in Work and Retirement.” North American Actuarial Journal, 7(3), 62-74. 2003.

Chen, Y-P. “Funding Long-Term Care.” Business Briefing: Long-Term Healthcare Strategies. London, England: World Markets Research Centre. 2003.

Chen, Y-P. & L. A. Vitt. “Reverse Mortgages.” Encyclopedia of Retirement and Finance, L. A. Vitt (Ed.).Westport, CT: Greenwood Publishing Group. 2003.

Chen, Y-P. Foreword to Encyclopedia of Retirement and Finance. L. A. Vitt (Ed.). Westport, CT: Greenwood Publishing Group. 2003.

Chen, Y-P. Testimony on Social Security improvements for women, seniors, and working Americans. Hearing, Subcommittee on Social Security, Committee on Ways and Means, U.S. House of Representatives, March 14. 2002.

Chen, Y-P. Statement on “A new approach to funding long-term care” for Hearing on “Broken and Unsustainable: The Cost Crisis of Long-Term Care for Baby Boomers,” Special Committee on Aging, United States Senate, April 4. 2002.

Chen, Y-P. & T.D. Leavitt. “Employee Preferences as a Factor in Pension Participation by Minority Workers.” Boston, MA: Gerontology Institute, University of Massachusetts Boston, November. 2002.

Chen, Y-P. “Social Security Reform: Assuring Solvency or Improving Benefits.” Journal of Financial Service Professionals, July, 29-41. 2002.

Chen, Y-P. “A Social Security Reform for Helping At-Risk Families.” Aging Today, 23(2) (March/April). 2002.

Chen, Y-P. Foreword to Choosing the Right Long-Term Care Insurance. Benjamin Lipson. New York: John Wiley and Sons. 2002.

Chen, Y-P. “Social Security Private Accounts Should Be Mandatory and Temporary.” Contingencies, Nov./Dec., pp. 12-16. 2001.

Chen, Y-P. “Funding Long-term Care in the United States: The Role of Private Insurance.” The Geneva Papers on Risk and Insurance, 26(4), (Oct.), 656-666. 2001.

Chen, Y-P. “Social Security Benefits for the Family: An Issue in Social Protection.” Social Thought: Journal of Religion in the Social Services, 20(3-4). 2001.

Chen, Y-P. “Preserving and Strengthening Social Security.” Hearing, Committee on Ways and Means, U.S. House of Representatives (Jan. 19). 1999.

Chen, Y-P. “A New Social Security: Traditional Social Security Plus a Pension Supplement.” The Role of the State in Pension Provision: Employer, Regulator, Provider, Gerard Hughes & Jim Stewart (Eds.). Dordrecht, The Netherlands; Kluwer Academic Publishers, pp. 153-157. 1999.

Chen, Y-P. “Racial Disparity in Retirement Income Security.” Directions for Policy Reform, Full-Color Aging: Facts, Goals, and Recommendations for America’s Diverse Elders. Toni P. Miles (Ed.) Gerontological Society of America. Washington, D.C. 1999, pp.21-31.

Chen, Y-P. “Financing Long-Term Care: An Intragenerational Social Insurance Model.” The Public Policy and Aging Report, 9(3), pp. 1/4-7. 1998.

Chen, Y-P. “Strengthening Social Security.” New Directions in Old Age Policy, J. Steckenrider and T. Parrott (Eds.), Albany: State University of New York Press, pp. 37-49. 1998.

Chen, Y-P. “A New Social Security: An Alternative to the Moynihan Plan.” Contingencies, (Nov/Dec), pp. 42-46. 1998.

Chen, Y-P. “A New Social Security: Combining Social Insurance with Individual Accounts.” White House Conference on Social Security: Viewpoints of Participants, (Dec.), pp. 37-38.

Chen, Y-P. “Economic Security of American Workers, 1988-1993.” Contingencies, 9 (1), pp. 26-29. 1997.

Chen, Y-P. “The Widening Gap between White and Minority Pension Coverage.” The Public Policy and Aging Report, (Winter), pp. 10-11. 1997.

Chen, Y-P. “Income Security for the Third Age: Concepts and Sources.” Research Dialogues. Teacher Insurance and Annuity Association-College Retirement Equities Fund, 53, pp. 1-7. 1997.

Chen, Y-P. “Bolster Private Pensions While Saving Social Security.” Contingencies, 9(4), pp. 40-43. 1997.

Chen, Y-P. & S.C. Goss. “Are Returns on Payroll Taxes Fair?” Social Security in the 21st Century, E.R. Kingson & J.H. Schulz (Eds.). Oxford, England: Oxford University Press, pp. 76-90. 1997.

Chen, Y-P. “Public and Private Approaches for Redesigning Social Security.” The National Government and Social Welfare: What Should Be the Federal Role, J. E. Hansan & R. Morris (Eds.). Auburn House, Westport, CT, pp. 81-89. 1997.

Chen, Y-P. “A Three-Legged Stool for Financing Long-Term Care.” A Secure Old Age: Approaches to Long- Term Care Financing, K. Wilber, E.L. Schneider, & D. Polisar (Eds.). New York: Springer Publishing Co., pp. 85-96. 1997.

Chen, Y-P, W.H. Crown, & R.W. McConaghy. “The Growing Interest in Older Worker Employment Policy.” Handbook on Employment and the Elderly, W. H. Crown (ed). Westport, CT: Greenwood Publishing Group Inc., pp. 1-14. 1996.

Chen, Y-P. “Gradual Retirement in the United States: Macro Issue and Policies.” Gradual Retirement in the OECD Countries. L. Delsen & G. Reday-Mulvey, (Eds.). Hampshire, England: Dartmouth Publishing Company, pp. 164-176. 1996.

Chen, Y-P. “The Role of the Fourth Pillar in the Redesign of Social Security.” The Geneva Papers on Risk and Insurance.21(81), (Oct.), pp. 469-477. 1996.

Chen, Y-P. “A ‘three-legged stool’ for financing long-term care in the United States.” Ageing International. 23(2),. (Fall), pp. 53-65. 1996.

Chen, Y-P. “Public and Private Approaches for Redesigning Social Security.” Journal of the American Society of CLU and ChFC, (July), pp. 48-52. 1996.

Chen, Y-P. “Providing Economic Security for the Older Population: Public or Private Approaches, Total Care of the Elderly: A Multidisciplinary Approach.” Proceedings, Fifth Asia/Oceania Congress of Gerontology, Hong Kong, Hong Kong Journal of Gerontology, Vol. 10 (Supplement), pp. 39-45. 1996.

Chen, Y-P. “Providing Economic Security for the Elderly.” Contingencies, 8(2), (Mar/Apr), pp. 52-56. 1996.

Chen, Y-P. "Introduction" in: Encyclopedia of Financial Gerontology. Eds. Vitt, L.A. and Sigenthaler, J. Westport, CT: Greenwood Publishing Group, Inc., 1996.

Chen, Y-P. "Coordinating Social Security Policy with Employment Policy: The Case for Partial Retirement," paper for the Mini-White House Conference on Aging, "Investing in America's Aging Work Force: Public Policies for the Twenty-First Century," sponsored by the National Council of Senior Citizens, Baltimore, MD. February 24, 1995.

Chen, Y-P. "Financing Long-Term Care: The Supplementary Role of an Intragenerational Social Insurance Model," paper for the First Pan American Congress of Gerontology, Sao Paulo, Brazil, February 19, 1995.

Chen, Y-P. "Income Security: A Key Concern for Elders," Aging Today, January/February, 1995, pp.8-10.

Chen, Y-P. "Unfunded Federal Mandates: The Case of Medicaid," with Tsukahara, T., paper presented at joint session of American Economic Association and Association for the Study of Grants Economy, January 7, 1995.

Chen, Y-P. "Individual Retirement Account." The Encyclopedia of Aging (New York: Springer Publishing Company). 1994.

Chen, Y-P. "Home Equity Conversion," The Encyclopedia of Aging (New York: Springer Publishing Company) 1994.

Chen, Y-P. "Pensions: Adjustments for Inflation," The Encyclopedia of Aging (New York: Springer Publishing Company) 1994.

Chen, Y-P. “Choices and Constraints: Economic Decisionmaking.” with Robert C.A. deVos, second edition (Malvern, PA: American Institute). 207 pp. 1994.

Chen, Y-P. "Financing Social Security, Medicare, Medicaid, and Long-Term Care: Future Horizons," The Columbia Retirement Handbook, ed. A. Monk (New York: Columbia University Press; pp. 551-569. 1994.

Chen, Y-P. "A Three-Legged Stool for Financing Long-Term Care: Would It Work?" Contingencies, 6(6), pp. 44-48. (Nov/Dec) 1994.

Chen, Y-P. "Antidote to Ageism" The Aging Network News, 12(6), pp. 3 and 8. October 1994.

Chen, Y-P. "Financing Long-Term Care: An Intragenerational Social Insurance Model," The Geneva Papers on Risk and Insurance, No. 73, pp. 490-495. Oct. 1994.

Chen, Y-P. "Privatizing Social Security: The Issues," Hearing on proposals for alternative investment of the Social Security trust fund reserves before Subcommittee on Social Security, Committee on Ways and Means, U.S. House of Representatives, October 4, 1994.

Chen, Y-P. "A Three-Legged Stool for Financing Long-Term Care: Is It An Acceptable Approach?" Journal of Case Management, 3(3), pp. 105-109. Fall, 1994.

Chen, Y-P. "Equivalent Retirement Ages and Their Implications for Social Security and Medicare Financing," The Gerontologist, 34(6), pp. 731-735. December 1994.

Chen, Y-P. "Future Financing of Medicaid and Long-Term Care," paper presented at Eastern Economic Association annual meetings, March 19, 1994.

Chen, Y-P. “Theme and Highest Priority Issues on the 1995 White House Conference on Aging Agenda," invited statement at Gerontological Society of America's Forum, a White House Conference on Aging-sanctioned event on February 28, 1994.

Chen, Y-P. "Financing Long-Term Care with Social Insurance and Private Insurance," paper presented at Allied Social Science Association annual meetings, January 3, 1994.

Chen, Y-P. “Achieving a Productive Aging Society.” ed. with S. A. Bass and F. G. Caro, (Westport, CT: Auburn House, 1993), 312 p.

Chen, Y-P. "Pension Income and Health Care for Economic Security: U.S. vs. Western European Countries," (with H.L. Sheppard) in: Population Aging: International Perspectives, eds. Shuman, Stanford, Harbert, Schmidt, and Roberts (San Diego: University Center on Aging,), pp. 473-487. 1993.

Chen, Y-P. A "Three-Legged Stool": A New Way to Fund Long-Term Care? in Care in the Long Term: In Search of Community and Security, Institute of Medicine (Washington, DC: National Academy Press 1993), pp. 54-70 (summarized in Continuum--A Report on Aging and Long-Term Care, ed. by Anne Harrington for Association of Massachusetts Homes for the Aging, April 1994).

Chen, Y-P. "Social Security-LTC," LTC News & Comment: News & Views on the Financing Of Long-Term Care, 2(9), May 1992.

Chen, Y-P. "The Role of Private Pensions in the Income of Older Americans." Trends in Pensions 1992, eds. J. A. Turner and D. J. Beller. (Washington, D.C.: U.S. Department of Labor), pp. 393-417. 1992.

Chen, Y-P. "Improving the Economic Security of Minority Persons As They Enter Old Age," Minority Elders: Longevity, Economics, and Health. (Washington, D.C.: Gerontological Society of America,), pp. 22-31. 1991.

Chen, Y-P. "Implications of Changes in Household Expenditure Patterns," with Crown, W.H., paper presented at 44th Annual Scientific Meeting of the Gerontological Society of America, November 1991.

Chen, Y-P. Book Review, "Financing Home Care: Improving Protection for Disabled Elderly People," eds. D. Rowland & B. Lyons, in Journal of Case Management, 3(2), pp. 83-84. Summer 1994.

Chen, Y-P. "Privatizing of Social Security 'too good to be true'" The Older American, 15 (3), Fall 1990.

Chen, Y-P. "Interlocking Elements in Prevention and Intervention for Economic Security," paper for 43rd Annual Scientific Meeting of Gerontological Society of America, November 19, 1990.

Chen, Y-P. "The Payroll Tax and Generational Equity," paper for 43rd Annual Scientific Meeting of Gerontological Society of America, November 18, 1990.

Chen, Y-P. "Linking Long-Term Care Financing to Social Security Cash Benefit," Testimony before the 1990-91 Advisory Council on Social Security, September 27, 1990.

Chen, Y-P. "Moynihan's Plan Needs an Insurance Policy," Perspectives, Social Insurance Update #15, National Academy of Social Insurance, August 1990.

Chen, Y-P. "Time to Restructure Social Security," The Gerontologist, 30(3), pp. 422-424.

Chen, Y-P. "Social Security, Long-Term Care, and Government Deficits," Susan B. Abell Memorial Lecture, Milton Visiting Nurse and Social Service League, May 3, 1990.

Chen, Y-P. "Let's Invest in Massachusetts,” formal presentation to Massachusetts State Legislature, March 1990.

Chen, Y-P. Book reviews, "Dependency and Poverty" and "Can America Afford to Grow Old?" Journal of Aging & Social Policy, 2(2), 1990.

Chen, Y-P. "How to Provide Long-Term Care: Present and Future Elderly," for Seminar on Health Care Services for the Elderly, John F. Kennedy Library, October 10, 1989.

Chen, Y-P. "Tie Long-Term Care to Social Security," The New York Times, p. A18. September 18, 1989.

Chen, Y-P. "The Role of Social Security in Preparing for the Retirement of Future Generations," presented at Invited Symposium, XIV International Congress of Gerontology, Acapulco, Mexico, June 21, 1989.

Chen, Y-P. "Economic Implications of Diversity in Aging," presented at Invited Roundtable, XIV International Congress of Gerontology, Acapulco, Mexico, June 19, 1989.

Chen, Y-P. "State of Social Security Education in American Colleges and Universities -- A Preliminary Report of A Pilot Survey," for the National Academy of Social Insurance, May 22, 1989.

Chen, Y-P. "The Choice of Production Methods," in: Great Ideas for Teaching Economics (4th edition), ed. R.T. Byrns and G.W. Stone (Chicago: Scott, Foresman and Company), pp. 304-305. 1989.

Chen, Y-P. "Profit Maximization and the Concept of 'Marginal Profit'" in: Great Ideas for Teaching Economics (4th edition), ed. R.T. Byrns and G.W. Stone (Chicago: Scott, Foresman and Company), pp. 324-325. 1989.

Chen, Y-P. "The Most Profitable Output May Not be the Most Efficient," in: Great Ideas for Teaching Economics (4th edition), ed. R.T. Byrns and G.W. Stone (Chicago: Scott, Foresman and Company), pp. 326-327. 1989.

Chen, Y-P. "How Well-Off Are the Elderly," Distinguished Lecture sponsored by the Office of Graduate Studies and Research, University of Massachusetts at Boston, April 19, 1989.

Chen, Y-P. "Low Confidence in Social Security Is Not Warranted," Journal of Aging & Social Policy, 1(1/2/). pp. 103-129. Reprinted in Aging and the Family, ed. S. J. Bahr and E. T. Peterson (Lexington: Lexington Books, 1989), pp. 285-317. 1989.

Chen, Y-P. “Choices and Constraints: Economic Decisionmaking.” with Robert C.A. deVos (Malvern, PA: American Institute), 162 pp. 1988.

Chen, Y-P. "Better Options for Work and Retirement: Some Suggestions for Improving Economic Security Mechanisms for Old-Age," Varieties of Aging, Annual Review of Gerontology and Geriatrics, (8), ed. G. L. Maddox and M. P. Lawton (New York: Springer Publishing Company,), pp. 189-216. 1988.

Chen, Y-P. Book review, "Born to Pay: The New Politics of Aging in America," Generations, Vol. XII, No. 3, pp. 79-80. Spring 1988.

Chen, Y-P. "Contrasting Views on Social Security's Future," The Actuary. 22(9), October 1988.

Chen, Y-P. "OASDI Bonds Could Restore Confidence in Social Security," Journal of the American Society of CLU & ChFC, Vol. XLI, No. 6, pp. 68-73. November 1987.

Chen, Y-P. "Making Assets Out of Tomorrow's Elderly," The Gerontologist. 27(4), August 1987, pp. 410-416. Reprinted as a chapter in Retirement Reconsidered: Economic and Social Roles for Older People, edited by R. Morris and S. A. Bass (New York: Springer Publishing Company, 1988), pp. 73-88. 1987.

Chen, Y-P. "Individual Retirement Accounts As Retirement Savings," statements submitted to Ways and Means Committee, House of Representatives, and committee on Finance, U.S. Senate, June-August, 1986.

Chen, Y-P. “Individual Retirement Account," The Encyclopedia of Aging (New York: Springer Publishing Company), pp. 348-349. 1986.

Chen, Y-P. "Home Equity Conversion," The Encyclopedia of Aging (New York: Springer Publishing Company), pp. 323-324. 1986.

Chen, Y-P. "Pensions: Adjustments for Inflation," The Encyclopedia of Aging (New York: Springer Publishing Company), pp. 516-517. 1986.

Chen, Y-P. "Utah's Unique Population Structure," in Utah in Demographic Perspective, ed. T.K. Martin, T.B. Heaton, and S.J. Bahr (Salt Lake City: Signature Books), pp. 289-295. 1986.

Chen, Y-P. Checks and Balances in Social Security. ed. with G. F. Rohrlich (Washington, D.C.: University Press of America), 357 pp. 1986.

Chen, Y-P. "Economic Analysis and Contextual Theory: Another Application of the Economic Way of Thinking," presented to Department of Mental Health Seminar, Hahnemann University, September 11, 1986.

Chen, Y-P. "Population Trends and Policy Implications in Less Developed Countries: 1980-2025," presented at thirteenth International Congress of Gerontology, New York City, July 16, 1985.

Chen, Y-P. "Economic Status of the Aging and Their Implications for Long-Term Care," presented at Fourth Annual Blueprints Conference of the Mid-Atlantic Long Term Care Gerontology Center, Temple University, April 2, 1985.

Chen, Y-P. "Federal Deficit Reduction and Social Security COLA Freeze," The American College Outlook, Spring 1985.

Chen, Y-P. "Economic Status of the Aging," Chapter 22, Handbook of Aging and the Social Sciences, Second Edition, ed. R. H. Binstock and E. Shanas (New York: Van Nostrand Reinhold, 1985), pp. 641-665. 1985.

Chen, Y-P. "Is There a Surplus in Social Security's Future?" Presented at Pension Symposium, 37th Annual Scientific Meeting, Gerontological Society of America, San Antonio, Texas, November 15, 1984.

Chen, Y-P. "Social Security As a Floor of Protection: The Case of the United States," presented at 11th Seminar of the European Group of Risk and Insurance Economists, Geneva, Switzerland, September 19, 1984.

Chen, Y-P. "Distributional Effects of Fringe Benefits," Hearings on Distribution and Economics of Employer-Provided Fringe Benefits, Subcommittee on Social Security and Subcommittee on Select Revenue Measures, Committee on Ways and Means, U.S. House of Representatives, 98th Cong., 2nd. Sess., pp. 686-687. September 17-18, 1984.

Chen, Y-P. "Concern with Aging in a Population Conference: Quality of Life for All," presented to United Nations International Conference on Population, Mexico City, (UN Document Number E/Conf. 76/NGO/10). August 6-13, 1984.

Chen, Y-P. "Employee Benefits and Social Security," Contemporary Policy Issues, Number 3, pp. 23-32. April 1983.

Chen, Y-P. "How Employee Benefits Affect Social Security," Business Forum, pp. 12-17. Winter 1983.

Chen, Y-P. Book review, "Employee Benefits Management," CLU Journal, p. 88. July,1983.

Chen, Y-P. "The Long-Range OASDI Deficit," Financing Problems of the Social Security System, Hearings before the Subcommittee on Social Security, Committee on Ways and Means, House of Representatives, 98th Congress, 1st Session, (Part 2), pp. 525-534. February 9, 1983.

Chen, Y-P. "Restoring Public Confidence in Social Security," Hearings on Social Security Reform, Committee on Finance, United States Senate, March 1, 1983.

Chen, Y-P. Social Security In a Changing Society, Second Edition (Bryn Mawr, PA: McCahan Foundation for Research in Economic Security, The American College), pp. 145 . 1983.

Chen, Y-P. "Retirement Income Security: What Role for Individual, Corporation, and Government?" presented at Conference on Human and Financial Dimensions of Retirement Counseling--Shaping the Corporate Role, November 29, 1983.

Chen, Y-P. "Changing Family Roles: Their Impact on Benefit Programs," America in Transition: Implications for Employee Benefits (Washington, D.C. Employee Benefit Research Institute), pp. 5-14. 1982.

Chen, Y-P. "Population Aging and Intergenerational Relationship," Affirming Life: Perspectives on Aging, Report of the United Nations Non-Governmental Organizations Committee on Aging to the World Assembly on Aging, pp. 35-36. 1982.

Chen, Y-P. "Comments on Innovative Housing Approaches," Session on Alternative Housing Programs, Canadian Association on Gerontology Annual Meeting, Winnipeg, Manitoba, Canada, November 7, 1982.

Chen, Y-P. "Household Expenditure Patterns: The Effect of Age of Family Head," Journal of Family Issues, June 1982 (Special Issue: The Economics of Family Life), pp. 233-250. 1982.

Chen, Y-P. "The Growth of Fringe Benefits: Implications for Social Security," Monthly Labor Review, pp. 3-10. November 1981.

Chen, Y-P. "Social Security Crisis: Is There a Way Out?--Comment," Proceedings, 74th Annual Conference of the National Tax Association--Tax Institute of America, pp. 118-119. October 1981.

Chen, Y-P. "Social Security Cost as Represented by the Percentage of Taxable Payroll," Hearings on Administration's Proposed Spending Reductions, Committee on Finance, United States Senate, 97th Congress, 1st Session, March 26, 1981.

Chen, Y-P. "Marrying, Divorcing, Living Together, and Working: Effects on the Popularity of Social Security,” Economics and the Family, ed. by Stephen J. Bahr (Lexington, MA: Lexington Books, 1980), pp. 149-173. (Translated into Japanese and published in Social Insurance Journal, pp. 43-60.) September 1980.

Chen, Y-P. "Survivor and Disability Benefits under Social Security: A Brief Discussion," Aging and Work, pp. 140-142. Spring 1980.

Chen, Y-P. Book review, "Financing Social Security," Financial Planning Today, 3(1), pp. 70-71. March 1980.

Chen, Y-P. "Options for Dealing with the Long-Range Deficit of OASDI," The Weekly Underwriter, January 1980.

Chen, Y-P. "Elderly Homeowner May Need HELP," The Philadelphia Inquirer, August 25, 1980, p. 15-A. (Reprinted in Active Times, International Society of Preretirement Planners, Spring 1981, pp. 3, 9; also reprinted in Is Government Home Ownership Assistance the Way to Go?, ed. Janet McClain, Proceedings form a Symposium held in Calgary, Canada, September 18-20, 1980, Canadian Council on Social Development (Ottawa: September 1981), pp. 115-117.

Chen, Y-P. "Home Equity Conversion: Maybe We Can Use HELP," Generations, October 1980, pp. 20-21, 29.

Chen, Y-P. Unlocking Home Equity for the Elderly. ed. with K. Scholen (Cambridge, MA: Ballinger Publishing Co.), 280 pp. 1980.

Chen, Y-P. "Private Resources and Public Policy" (with K. Scholen), Unlocking Home Equity for the Elderly (Cambridge, MA: Ballinger Publishing Co.), pp. 67-76. 1980.

Chen, Y-P. "Home Equity Conversion from a Black Perspective" (with L. A. See and Ken Scholen), Unlocking Home Equity for the Elderly, (Cambridge, MA: Ballinger Publishing Co., 1980), pp. 61-66.

Chen, Y-P. "Taxation and Treatment of Income Derived from Home Equity Conversion Plans" (with S. H. Sobel), Unlocking Home Equity for the Elderly (Cambridge, MA: Ballinger Publishing Co.), pp. 209-216. 1980.

Chen, Y-P. "The Use of Marginal Notes in Text," (with Phillippe C. Duchastel) in Educational Technology, pp. 41-45. November 1980.

Chen, Y-P. "Housing Annuity: A New Product?" (with V. A. Valente), Trust and Estates, pp. 53-54. March 1979.

Chen, Y-P. "Long-Range Actuarial Deficit of Social Security and Dependency Ratios," Eastern Economic Journal, Vol. V, No. 4, pp. 491-499. December 1979.

Chen, Y-P. "Dependency Ratios and Costs," Social Security Financing and Benefits, Report of the 1979 Advisory Council on Social Security, pp. 281-285. December 1979.

Chen, Y-P. Book review, "Creating New Financial Instruments for the Aged,” Journal of Finance, pp. 285-287. March 1979.

Chen, Y-P. "Demographic Shifts and Dependency Costs: Tax and Expenditure

Programs supporting the Old and Young Dependents in U.S.A., Japan, and Taiwan," Aging International, Spring 1979, p. 25. (Based on paper presented at the 11th International Congress of Gerontology, Tokyo, Japan). August 24, 1978.

Chen, Y-P. Book review, "Social Insurance and Economic Security," Aging and Work, pp. 284-285. Fall 1978.

Chen, Y-P. Book review, "Pensions and Inflation," Aging and Work, pp. 215-217. Summer 1978

Chen, Y-P. "Effectiveness of Individual Retirement Accounts for Young, Old, Female, and Married Workers: Recommendations for Legislative Change," paper presented at the 1977 Annual Conference of the American Risk and Insurance Association, Scottsdale, Arizona, August 15, 1977.

Chen, Y-P. "Retirement Income Potentials of Private Pensions and IRAs: An Exploratory Comparative Analysis," ERISA: Progress and Problems (Washington: The National Council on the Aging, 1977), pp. 42-58. 1977.

Chen, Y-P. "The Economic Status of the Aged," The Later Years: Social Applications of Gerontology, ed. R. A. Kalish (Monterey, CA: Brooks/Cole Publishing Co.), pp. 101-109. 1977.

Chen, Y-P. "Future Funding of Social Security and the Total Dependency Ratio" (with K. W. Chu), Monthly Labor Review, pp. 53-55.

Chen, Y-P. "Housing Assets as Potential Income: Implications for Income-Conditioned Programs," The Treatment of Assets and Income from Assets in Income Conditioned Government Benefit Programs, (Washington: Federal Council on the Aging), pp. 149-176. 1977.

Chen, Y-P. "Total Dependency Burden and Social Security Solvency," (with K. W. Chu), Proceedings, 29th Annual Meeting of the Industrial Relations Research Association, pp. 43-51. 1976.

Chen, Y-P. Book review, "The Effect of Social Security on Personal Saving," Industrial Gerontology, pp. 268-270. Fall 1976.

Chen, Y-P. "Tax-Benefit Ratios and Rates of Return under OASI: 1974 Retirees and Entrants: A Reply" (with K. W. Chu), Journal of Risk and Insurance, pp. 145-151. March 1976.

Chen, Y-P. "Should the State of California Opt Out of the Social Security System: An Evaluation of Critical Issues," Testimony at the Social Security Subcommittee Hearings, Commission on California State Government Organization and Economy, September 1, 1976.

Chen, Y-P. "Comments on Available Information Concerning Actuarial Assumptions, Financial and Benefit Structures under Public Employees Retirement Systems in California," report submitted to California Senate Committee on Public Employment and Retirement, August 1976.

Chen, Y-P. "Comparative Rates of Return under Social Security, Public Employees Retirement System, Private Employees Pension Plan, and Private Savings," report submitted to California Senate Committee on Public Employment and Retirement, August 1976.

Chen, Y-P. "Present Status of State and Local Government Employees Retirement System," report submitted to California Senate Committee on Public Employment and Retirement, August 1976.

Chen, Y-P. "Income and Housing of the Aged in the United States: An Issue in Grants Economics," Grants and Exchange, ed. Martin Pfaff (Amsterdam: North-Holland Publishing Company, 1976), pp. 311-322.

Chen, Y-P. Book review, "Providing Adequate Retirement Income: Pension Reform in the United States and Abroad," Industrial Gerontology, pp. 308-311. Fall 1975

Chen, Y-P. "Financing of Health Care in Japan: Comment," for the 31st Congress of International Institute of Public Finance, Nice, France, September 1975.

Chen, Y-P. "Invited Statement on Inflation and Unemployment" submitted to California Conference on Inflation, September 1974. (An earlier version of the statement was submitted to the President's Summit Conference on the Economy, August 1974.)

Chen, Y-P. Understanding Economics: Analysis of Selected Issues, ed. with assistance of S.W. Arndt (Boston: Little, Brown and Co.), 151 pp. 1974.

Chen, Y-P. "Inflation and the Redistribution of Wealth" (with C. T. Nisbet), Understanding Economics: Analysis of Selected Issues, ed. with assistance of S. W. Arndt (Boston: Little, Brown and Co., 1974), pp. 23-41.

Chen, Y-P. Book review, "Retirement Systems for Public Employees," Industrial Gerontology, pp. 93-94. Winter 1974.

Chen, Y-P. "Tax-Benefit Ratios and Rates of Return under OASI: 1974 Retirees and Entrants," (with K. W. Chu), Journal of Risk and Insurance, p. 189-206. June 1974.

Chen, Y-P. Book review, "An American Philosophy of Social Security: Evolution and Issues," Industrial Gerontology, pp. 90-92. Winter 1974.

Chen, Y-P. "Retirement Income Adequacy," in Professional Obligations and Approaches to the Aged, ed. A. N. Schwartz and I. N. Mensh (Springfield, Illinois: Charles C. Thomas Publishers, pp. 134-154. 1974.

Chen, Y-P. "Income and Net Worth Distributions among the Aged in the United States: Implications for Income Maintenance," Urban and Social Economics in Market and Planned Economies--Housing, Income, and Environment, Vol. 2, ed. A. A. Brown, J. A. Licari, and E. Neuberger (New York: Praeger Publishers, 1974), pp. 179-205. (Based on paper presented at the 9th International Congress of Gerontology, Kiev, U.S.S.R., July 6, 1972.)

Chen, Y-P. " 'Gressivity' of Direct Taxes Under Various Income Concepts---A Note," (with K. W. Chu), paper presented at 1973 Annual Meeting of the Western Economic Association, August 1973.

Chen, Y-P. A Pilot Survey Study of the Housing-Annuity Plan (HAP), a monograph submitted to Department of Housing and Urban Development, Washington, D.C., published as Occasional Paper No. 6 by Housing, Real Estate, and Urban Land Studies Program (Los Angeles: University of California, 1973), 177 pp.

Chen, Y-P. "Home Ownership: The Case of the Elderly" (with J. E. Hewlett), California Real Estate Magazine, pp. 26-28. July 1972.

Chen, Y-P. "On Research in Aging and Quality of Life," Research in Aging, 1971, Hearings, Subcommittee on Aging, Committee on Labor and Public Welfare, U.S. Senate, 92nd Congress, Second Session (Washington: U.S. Government Printing Office, 1972), pp. 202-206. 1972.

Chen, Y-P. Public Finance and Public Policy Issues, ed. with M. Schnitzer (Scranton, PA: Intext Educational Publishers), 445 pp. 1972.

Chen, Y-P. Income: Background and Issues, 1971 White House Conference on Aging (Washington: General Services Administration: March 1971), 104 pp. (Reprinted by the Institute of Industrial Relations, University of California, Los Angeles, June 1971 and reprinted by the U.S. Government Printing Office, October 1971).

Chen, Y-P. "Income Variation and Income Tax Averaging: A Study of a Group of with D. S.Huang), Proceedings, 63rd Annual Conference on the National Tax Association, pp. 133-144. 1970.

Chen, Y-P. "Making a Theory Work: The Case of Homeownership by the Aged," Hearings on Homeownership Aspects of the Economics of the Aging, Special Committee on Aging, Subcommittee on Housing for the Elderly, U.S. Senate, 91st Congress, 1st Session (Washington: U.S. Government Printing Office, 1969), pp. 829-845. (Reprinted in Aging and Human Development, Vol. No. 1, 1970, pp. 919.)

Chen, Y-P. "Income for the Elderly from Homeownership," The Journal of the Federal Home Loan Bank Board, January/February 1970, pp. 11-14, 25.

Chen, Y-P. "General Revenue Financing of Social Security: A Negative View," Proceedings, 62nd Annual Conference on the National Tax Association, pp. 329-344. 1969.

Chen, Y-P. "Burden and Relief of Property Taxes on the Aged: Some Notes,” Hearings on Homeownership Aspects of the Economics of Aging, Special Committee on Aging, Subcommittee on Housing for the Elderly, U.S. Senate, 91st Congress, First Session (Washington: U.S. Government Printing Office, 1969), pp. 849-862. 1969.

Chen, Y-P. "A Note on Estimating Potential Income from A Housing-Annuity" (with L. Timothy Giles), Hearings on Homeownership Aspects of the Economics of Aging, Special Committee on Aging, Subcommittee on Housing for the Elderly, U.S. Senate, 91st Congress, First Session. (Washington: U.S. Government Printing Office, 1969), pp. 845-849. 1969.

Chen, Y-P. "Statement on Taxation and Income Maintenance," Long-Range Program and Research Needs in Aging and Related Fields, Hearings, Part I: Survey, Special Committee on Aging, U.S. Senate, 90th Congress, First Session (Washington: U.S. Government Printing Office, 1968), pp. 279-281. 1968.

Chen, Y-P. "Direct Tax Burdens on the Poor and Elderly--A Methodological and Empirical Study," a report submitted to the Welfare and Social Security Administration, United States Department of Health, Education and Welfare, Washington, D.C.: (mimeographed, 160 pp.) June 1968.

Chen, Y-P. "Potential Income from Homeownership: An Actuarial Mortgage Plan," A Compendium of Papers, Part II: The Aged Population and Retirement Income Programs, Subcommittee on Fiscal Policy, Joint Economic Committee, 90th Congress, First Session (Washington: U.S. Government Printing Office), pp. 303-311. 1967.

Chen, Y-P. "Property Tax Concessions to the Aged," Property Taxation--U.S.A., ed. Richard W. Lindholm (Madison: University of Wisconsin Press), pp. 225-236. 1967.

Chen, Y-P. "Some Issues in Tax Burden Analysis," Western Economic Journal, pp. 378-379. September 1967.

Chen, Y-P. "Reforming Social Security: Certain Approaches and Issues," Proceedings, 60th Annual Conference of the National Tax Association, pp. 561-577. 1967.

Chen, Y-P. "Inflation and Productivity in Tax-Benefit Analysis for Social Security," A Compendium of Papers, Part III; Public Programs, Subcommittee on Fiscal Policy, Joint Economic Committee, 90th Congress, First Session (Washington: U.S. Government Printing Office), pp. 86-108. 1967.

Chen, Y-P. "Low Income, Early Retirement, and Tax Policy," The Gerontologist, pp. 35-38. March 1966.

Chen, Y-P. "Poverty and Property: An Economic Issue in Old Age, Proceedings, 7th International Congress on Gerontology, Vienna, Austria, pp. 7-9. July 1966.

Chen, Y-P. "Poverty: Existing and Possible Income Measures," Western Economic Journal, p. 191. Spring 1966.

Chen, Y-P. "Economic Poverty: The Special Case of the Aged," The Gerontologist, pp. 39-45. March 1966.

Chen, Y-P. "Preferential Treatment of the Aged in Income and Property Taxation," American Journal of Economics and Sociology, pp. 27-38. (Reprinted by National Clearinghouse on Aging: Service Center for Aging Information, 1979.). January 1966.

Chen, Y-P. "What is Poverty and Who Are the Poor: Comment," presented at Faculty Seminar on Poverty, University of California, Los Angeles, Spring 1965.

Chen, Y-P. "Present Status and Fiscal Significance of Property Tax Exemptions for the Aged," National Tax Journal, pp. 162-174. June 1965.

Chen, Y-P. "Taxation of the Aged: Some Issues and Possible Solutions," Proceedings, 58th Annual Conference of the National Tax Association, pp. 206-225. 1965.

Chen, Y-P. "Homestead Tax Exemptions for the Aged with Special Reference to the Revenue Effects of Alternative Exemption Laws in California," Taxation of Property in California (Sacramento: California Office of State Printing), pp. 164-201. 1964.

Chen, Y-P. "Income Tax Exemptions for the Aged as a Policy Instrument," National Tax Journal, pp. 325-336. December 1963.

Chen, Y-P. "Property Tax Burden on Aged Homeowners and Income Potential of Their Homes," Faculty Seminar, Department of Economics and Social Science Research Institute, University of Wisconsin, December 1963.

Chen, Y-P. "The Economic Implications and Consequences of the OASI Trust Fund," Journal of Finance, pp. 137-138. March 1962.

Chen, Y-P. "The Federal OASI Trust Fund as an Equalization Reserve," Proceedings, 36th Annual Conference of the Western Economic Association, pp. 51-55. 1961.

Chen, Y-P. "City Street Needs in Seattle, Spokane, and Tacoma: An Economic and Engineering Study " (with M. Ekse, W.B. Bonow, J.E. Colcord). Highway Economics Project, University of Washington, 40 pp. August 1960.

ADDENDUM TO CURRICULUM VITAE OF YUNG-PING CHEN

Selected national and international activities of Yung-Ping Chen, representing Gerontology at the University of Massachusetts Boston, in his capacity as holder of the Frank J. Manning Eminent Scholar’s Chair in Gerontology, a position he held from 1988 to 2009. (Addendum dated 6/30/2009)

____________________________________________________________________________________

I. 2007-2009 (working relationships with international colleagues and organizations)

1) With Eskil Wadensjo (professor of labor economics, Swedish Institute for Social Research, University of Stockholm, Sweden), he co-presented a paper (on comparative welfare policy in Sweden and the U.S.) at the Research Conference of the International Social Security Association, 2007. He also co-authored with Prof. Wadensjo a paper (on potential labor supply) which is under review by a journal.

2) With Genevieve Mulvey-Reday (research director of four-pillar study programme, International Association for the Study of Insurance Economics), he co-convened and presented a paper (on non-standard workforce and its implications for retirement security) at the Research Conference of the International Social Security Association, 2007. He also has ongoing research collaboration with this Association on older worker and ergonomics issues.

3) With Christophe Courbage (research director of health and ageing, International Association for the Study of Insurance economics), he has ongoing research collaboration on long-term care funding issues in Europe and the U.S.

4) With Mara Taglibue and Angelo Scarioni (of Marcos Research, Italy), he has ongoing research collaboration on issues pertaining to older workers and to mental health.

5) With Philip Taylor (Professor at Business, Work, and Ageing Centre for Research, Swinburne University of Technology, Australia), he co-convened two symposiums on older workers, one each at the Gerontological Society of America annual conferences, 2007 and 2008 (both designated as presidential symposium).

6) With Susan St. John (professor of economics, University of Auckland, New Zealand), he co-authored a paper (on intragenerational approaches to social insurance) under review by a journal.

7) He serves on the international editorial board (on pension reform studies) of the Retirement Policy and Research Centre, Business School, University of Auckland, New Zealand.

8) With Anna Howe (formerly, professor at La Trobe University and director of National Ageing Research Institute, Australia, and former president of Australian Association of Gerontology), he has ongoing collaborative research on reverse mortgages and long-term care in Australia and the U.S. (He has co-presented papers with her at the Australian Association of Gerontology and at the Gerontological Society of America).

9) With the Embassy of Switzerland and the World Demographic Association, he helped organize and moderated a workshop (on the future of social security and healthcare in the U.S. and Switzerland) in Washington, DC, in November 2007. He helped organize and moderated a workshop (on retirement in ageing societies) for the Consulate of Switzerland in Boston in June 2007.

10) With Alfonso Sousa-Poza (professor at the University of St. Gallen, Switzerland and at the

University of Hohenheim in Germany), he co-convened a session (on pensions in the developing

countries) at the 2008 World Ageing and Generations Congress in Switzerland.

11) He presented a paper (on Medicare funding reform) at an international workshop on population,

health and policy at the University of Hawaii, Manoa, in June 2008, a workshop for 20

international scholars from 15 countries. (This is reported here because these scholars were from

other countries.)

12) He presented a paper (on a trade-off funding proposal for long-term care) at the International Actuarial Association meetings, May 2008.

13) He presented a paper (on re-envisioning social insurance) at the International Industrial Relations Association meetings, January 2008.

II. Selected national activities

1) White House Conferences on Aging, 1995 and 2005 (continuing his participation in the same conference in 1971 and 1981, either as a delegate or a consultant, or both).

2) Participating as a delegate to the 1998 White House Conference on Social Security, he was one of a dozen college professors from around the country and one of 4 college professors from the Boston area, Boston College, Harvard, and MIT being the other 3 schools represented.

3) He convened and moderated an Invitational Roundtable on Social Security Reform Plans (produced by the 1994-96 Advisory Council on Social Security), at the Catholic University of America in Washington, DC, 1996.

4) He convened and moderated a Town Hall Meeting on Social Security Reform (for Boston communities, 1998)

5) He convened and moderated a Town Hall Meeting on Social Security Reform for University of Massachusetts Boston students (at UMB campus, 1999).

6) He was a member of National Advisory Board of the Americans Discuss Social Security (ADSS) organization, 1997-99, a two-year project sponsored by the Pew Charitable Trusts.

7) He was on the board of directors of the National Council on the aging (for 12 years until April 2005).

8) He was elected Founding Member of the National Academy of Social Insurance (NASI), 1988. He was a visiting scholar at NASI, 1989. (For several years since 1990, he was a referee/judge for NASI’s Heinz Dissertation Award Committee.)

9) He was founding editor of the Newsletter on Economics of Aging, Gerontological Society of America, 1988-93. He also served as chair of the Economics of Aging Formal Interest Group, Gerontological Society of America, 1992-93.

10) He gave Special Lectures (on Social Security and long-term care issues) at the American Society on Aging annual conferences in 1997, 1998, 1999, 2000.

11) He served as an Issue Expert on Social Security at the Biennial Convention of the National Indian Council on Aging, 1998.

12) He served on the expert panel on linking reverse mortgages to long-term care for joining public and private initiatives by CMS (Center for Medicare and Medicaid Services), Robert Wood Johnson Foundation, and the National Council on the Aging. 2003.

13) He provided Briefing (on pension coverage and workforce issues) for the National Policy Council of AARP, 2006, and previously provided briefing (on his proposal for Social Security reform) for the Board of Directors of AARP, 1997.

14) He is currently serving on the board of advisors of the Association for Generational Equity, the Center on Global Aging, Catholic University of America, and the China Foundation.

III. Selected international activities

He has organized symposiums, conferences, or otherwise presented papers, including several keynote addresses, at International Association of Geriatrics and Gerontology; International Insurance Seminar; European Union Geriatric Medicine Society; International Institute of Public Finance; International Association for the Study of Insurance Economics; International Federation on Ageing; Institute of Actuaries (in Australia, Hong Kong, UK, and Taiwan); Asia/Oceania Regional Congress of Gerontology; Asia Regional Conference on Social Security; Asia Pacific Risk and Insurance Association; Australian Association of Gerontology; World Demographic Association; International Actuarial Association; International Industrial Relations Association, among others. (The last two organizations were noted in Section I, above.)

He has made special presentations to: Overseas Chinese Institute on Aging/China Foundation/Beijing Univesity/Tsinghua University/Peoples University of China; Conference on Family and Work, Statistics Canada; Jamaica Council on Aging; Ireland Council on Retirement Planning,; Elderly Commission of Hong Kong, among others.

He served as a consultant, pro bono, to the Department of Social Welfare of Hong Kong, 1998. He was an honorary visiting professor at the University of Hong Kong for three (calendar) years, 2000 to 2002.

He was elected Fellow in the World Demographic Association, based in Switzerland, 2006.

He organized (with Genevieve Reday-Mulvery) and will chair the symposium on silver workers to

be presented at the World Congress of Gerontology and Geriatrics, Paris, July 2009.

ATTACHMENT TO CURRICULUM VITAE OF YUNG-PING CHEN

[Attached is an essay Chen prepared on the development of the concept of home equity conversion that led to the establishment of the home equity conversion mortgage (HECM) program. HECM is the most widely available reverse mortgage product today (2011), the only reverse mortgage program insured by the Federal Housing Administration. He was asked to give an account of his involvement in developing the concept by a colleague who was editing a book on financing retirement that has yet to be published.]

On the Origin of Home Equity Conversion/Reverse Mortgages

By Yung-Ping Chen 07-08-03

During 1963-64, I received a research grant from the Brookings Institution. The grant came with the designation of Brookings Research Professorship. I was invited to join the Social Systems Research Institute in the Department of Economics at the University of Wisconsin, Madison, on leave from Seattle Pacific College (now Seattle Pacific University).

While studying income and wealth distributions among older people, I became intrigued by the “income poor but house rich” phenomenon that plagued many of them. Trying to resolve the dilemma, I hit upon the idea of voluntarily converting the old person’s net equity in the home into a lifelong flow of income (or annuities) as spendable cash, while being assured of lifetime occupancy in the house or upon voluntary move-out. I gave a talk on the subject at the University of Wisconsin in December of 1963. I presented a paper at the1965 annual conference of the National Tax Association that concluded with this concept. In 1966, I broached the subject before an international research community at the 7th International Congress on Gerontology in Vienna. .I was unaware that home equity conversion was an idea with a history and not the new idea it then seemed.

New or not, arguably home equity conversion may be a useful adjunct to financial resources for retirement. With individuals and society facing new and emerging demographic and economic conditions, more resources seem required to finance a longer period of healthy aging and not-so-healthy aging. It appears therefore that home equity conversion deserves to be further developed into a more meaningful and a more widely available supplementary source of income for those who desire it, while retaining use of the house. In addition, older people in the future, as a group, may be less averse to the idea of home equity conversion than the current generation of older people, who, growing up in the Great Depression, developed an inclination against incurring indebtedness, which would be the result of converting their home equity.

Perhaps a brief account of my personal identification with this concept may be in order. In the 1960s, few people were aware of the central notion of home equity conversion, but some were clearly interested in it. For example, in 1967, I was invited by the Joint Economic Committee of United States Congress to contribute to a compendium of papers on retirement income programs. Then in 1969, I was called to testify before the Subcommittee on Housing for the Elderly, Special Committee on Aging of the U. S. Senate.

In 1970, I received a research grant from the U. S. Department of Housing and Urban Development (HUD). I conducted a study the receptivity of home-equity conversion among a probabilistic sample of single-family, owner-occupied homes whose heads were from 55 to 75 years old in Los Angeles County in California. A monograph, “A Pilot Survey Study of the Housing-Annuity Plan (HAP),” was published in 1973.

In fact, it was not until 1969 when I was preparing a research grant application to HUD did I come across a newspaper story about a version of the idea that had already been in use in France for decades.

In France, the story indicated, the owner of a house or other real estate could sell the property for a lifetime annuity (called a viager) with the purchaser taking possession of it upon the seller’s death. For the owner, it was a means of obtaining income without selling the house outright. For the buyer, it was a way of acquiring property without a large and immediate disbursement of funds. The buyer would pay a sum less than the market price of the property, since he would have to wait for an unknown period of time to take title, and he would be speculating that he would outlive the seller. Other things being equal, prices tended to rise with the seller’s age. Viager would be a transaction between individuals, typically with the assistance of a lawyer.

One modern-day example of such transactions involved Madame Jeanne Calment (1875-1997) of Arles, France, the individual with the longest documented longevity before and since her death in 1997. Thanks to Dr. Allard, who gave me his co-authored book in November of 1999, I learned that Madame Calment entered into a viager contract at age 90. She received a monthly payment for 32 years--it was paid by the “buyer” of her apartment for 29 years until his death and then by his heirs for another three years until her death, at age 122.

Some other practice in another part of the world resembled the idea of home equity conversion. While doing research with a grant from the U.S. Department of Housing and Urban Development (HUD) in 1970, I learned something of interest that reportedly happened in Poland. The HUD grant I secured was for the purpose of assessing homeowners’ receptivity to a proposed idea of converting home equity into cash, using survey research. There was an open-ended question in the survey instrument. A respondent offered the following information. It seemed that some years ago a Polish peasant could receive a pension from the government for a lien on his house; he might live in his house throughout his lifetime but the government would take possession of the house on his death.

There was still more information to be learned. In 1979 and 1980, two conferences on home equity conversion were held in Madison, Wisconsin. In the course of those proceedings, Nelson Haynes of Deering Savings and Loan Association of Portland, Maine, USA, reported that in 1961 he had made what amounted to a reverse mortgage loan to Nellie Young, the widow of his high school football coach.

What I envisioned was the creation of an impersonal market in which a new type of financial product involving both the private and public sectors. This product would entail joint operation of several financial intermediaries such as banks or savings and loan associations, mortgage companies, private and public pension funds, and possibly also involving home improvement companies, with the support of the government.

In conclusion, the above account amply disabuses the notion that home equity conversion was a novel idea, even in the early 1960s in the United States. Novel or not, a new insurance product supported by the United States Government has become a reality. To encapsulate, the 1981 White House Conference on Aging recommended that an insurance program for reverse mortgage loans be developed. In 1989, reverse mortgages were issued under a federally guaranteed Home Equity Conversion Mortgage (HECM) program. The HECM program was made permanent by an act of Congress in 1998.

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References:

Yung-Ping Chen, “Property tax burden on aged homeowners and income potential of their homes,” at a joint seminar of the Department of Economics and the Social Systems Research Institute, University of Wisconsin, Madison, December 1963.

Yung-Ping Chen, “Taxation of the Aged: Some Issues and Possible Solutions,” Proceedings, the Fifty-Eighth Annual Conference on Taxation, National Tax Association, 1965, pp. 206-225.

Yung-Ping Chen, "Poverty and Property: An Economic Issue in Old Age, Proceedings, 7th International Congress on Gerontology, Vienna, Austria, pp. 7-9. July 1966.

Yung-Ping Chen, "Economic Poverty: The Special Case of the Aged," The Gerontologist, pp. 39-45. March 1966.

Yung-Ping Chen, “Potential income from homeownership: An actuarial mortgage plan,” A Compendium of Papers, Part II: The Aged Population and Retirement Income programs, Subcommittee on Fiscal Policy, Joint Economic Committee, 90th Congress, First Session, (Washington: U.S. Government Printing Office, 1967), pp. 303-311.

Yung-Ping Chen,“Making a Theory Work: The Case of Homeownership by the Aged,” Hearings on Homeownership Aspects of the Economics of the Aging, Special Committee on Aging, Subcommittee on Housing for the Elderly, U.S. Senate, 91st Congress, 1st Session (Washington: U.S. Government Printing Office, 1969), pp. 829-845.

Yung-Ping Chen and L. Timothy Giles,“A Note on Estimating Potential Income from A Housing-Annuity” (with L. Timothy Giles), Hearings on Homeownership Aspects of the Economics of Aging, Special Committee on Aging, Subcommittee on Housing for the Elderly, U.S. Senate, 91st Congress, First Session. (Washington: U.S. Government Printing Office, 1969), pp. 845-849.

Yung-Ping Chen, A Pilot Survey of the Housing-Annuity Plan (HAP), report submitted to U.S. Department of Housing and Urban Development, Washington, D.C., 1973.

Ken Scholen and Yung-Ping Chen (eds), Unlocking Home Equity for the Aged, (Cambridge, Ballinger Publishing Company), 1980.

Michel Allard, Vicotr Lebre, and Jean-Marie Robine, Jeanne Calment: From Van Gogh’s Time to Ours: 122 Extraordinary Years, (New York. and Houndmills, England, W.H. Freeman and Company), 1998.

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