Michael D. Hurd

Michael D. Hurd
Director, RAND Center for the Study of Aging; Senior Principal Researcher
Santa Monica Office


Ph.D. in economics, University of California, Berkeley; M.S. in statistics, University of California, Berkeley; B.S. in electrical engineering, University of Utah

Media Resources

This researcher is available for interviews.

To arrange an interview, contact the RAND Office of Media Relations at (310) 451-6913, or email media@rand.org.

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Michael Hurd is a senior principal researcher at the RAND Corporation, where he directs the RAND Center for the Study of Aging. His research interests cover a wide range of topics in the economics of aging including: the structure of private pensions and Social Security and their effects on retirement decisions; the economic status of the elderly; the determinants of consumption and saving; the use of health care services; methods of assessing uncertainty in a population; bracketing and anchoring effects in the elicitation of economic information; and the relationship between socioeconomic status and mortality. His most recent research focuses on the monetary costs of dementia, and the costs of long-term care. Hurd has a Ph.D. in economics and an M.S. in statistics from the University of California, Berkeley.

Concurrent Non-RAND Positions

Research Associate, NBER; NETSPAR Fellow

Recent Projects

  • RAND Center for the Study of Aging
  • Health and Economic Status in Older Populations
  • Health and Retirement Study
  • Dementia Prevalence over Time: Proximate Causes and Consequences
  • The Value of Long Term Care Insurance to Married and Single Persons

Selected Publications

Hurd, M. D., P. Martorell and K. Langa, "Future Monetary Costs of Dementia in the United States Under Alternative Dementia Prevalence Scenarios.," Journal of Population Ageing, 1(12), 2015

Hurd, Michael; Rohwedder, Susann, "Heterogeneity in Spending Change at Retirement," Journal of the Economics of Aging, (1-2), 2013

Hurd, M., P. Martorell, A. Delavande, K. J. Mullen and K. M. Langa, "Monetary Costs of Dementia in the United States," New England Journal of Medicine, 368(14), 2013

Hurd, M., P. C. Michaud and S. Rohwedder, "The Displacement Effect of Public Pensions on the Accumulation of Financial Assets," Fiscal Studies, 33(1), 2012

Hurd, Michael, "Inter-vivos Giving by Older People in the United States: Who Received Financial Gifts from the Childless," Ageing and Society, 29, 2009

Hurd, Michael; Rohwedder, Susann, "Methodological Innovations in Collecting Spending Data: The HRS Consumption and Activities Mail Survey," Fiscal Studies, 30(3/4), 2009

Hurd, Michael, "Subjective Probabilities in Household Surveys," Annual Review of Economics, 1, 2009

Hurd, M., Hudomiet, P. & Rohwedder, S., "The Relationship Between Lifetime Out-of-Pocket Medical Expenditures, Dementia, and Socioeconomic Status in the U.S.," The Journal of the Economics of Aging (forthcoming)

Honors & Awards

  • Fulvio Guerrini Lecture, University of Turin
  • The Johann Heinrich Jung-Stilling Lecture, NAR Colloquium, University of Heidelberg

Recent Media Appearances

Interviews: WAMU, The Diane Rehm Show


  • Living Longer, Working Longer

    When people live longer, the costs of Social Security and Medicare increase and threaten the sustainability of these programs. Households also worry about how to finance more retirement years. But people are working longer, and if they continue to do so, they will reduce some of the problems.

    Aug 25, 2016

    The RAND Blog

  • Alzheimer's Disease and Dementias

    The Cost of Dementia: Who Will Pay?

    It is time for the government in partnership with industry to return to the drawing board to craft a plan that will provide protection for the more than 9 million people who will need care for dementia by 2040, writes Michael D. Hurd.

    May 1, 2013

    The Health Care Blog