Nakajima, Makoto; Telyukova, Irina A. - 2019
decisions. We investigate empirically and theoretically the life-cycle patterns of homeownership, housing and nonhousing assets … in retirement. Using an estimated structural model of saving and housing decisions, we find, first, that homeowners … 1996-2006 housing boom significantly increased homeowners' assets. These channels are quantitatively significant; without …