Showing 1 - 7 of 7
life expectancy related to observable factors such as income, gender, and health have large effects on savings, and that …
Persistent link: https://www.econbiz.de/10012463996
lifespan risk, can explain a significant portion U.S. savings during retirement. However, more work is needed to disentangle … question is why households do not buy more insurance against these risks. Going beyond total savings and looking at its …
Persistent link: https://www.econbiz.de/10012457399
This paper constructs a rich model of saving for retired single people. Our framework allows for bequest motives and heterogeneity in medical expenses and life expectancies. We estimate the model using AHEAD data and the method of simulated moments. The data show that out-of-pocket medical...
Persistent link: https://www.econbiz.de/10012463501
medical expenses goes a long way toward explaining the elderly's savings decisions. Specifically, medical expenses that rise … their assets so slowly. We also find that social insurance has a big impact on the elderly's savings …
Persistent link: https://www.econbiz.de/10012466109
While the savings of retired singles tend to fall with age, those of retired couples tend to rise. We estimate a rich … that while medical expenses are an important driver of the savings of middle-income singles, bequest motives matter for … of medical expenses and bequest motives is a crucial determinant of savings for all retirees. Hence, to understand …
Persistent link: https://www.econbiz.de/10012533377
supply and savings of two different cohorts. To do so, we estimate a rich life-cycle model of couples and singles using the … labor market participation, hours, and savings for married and single people and generates plausible elasticities of labor … participation of married men after age 55, and the savings of couples. These effects are large for both the 1945 and 1955 cohorts …
Persistent link: https://www.econbiz.de/10012453741
This paper develops and estimates a dynamic life-cycle model to quantify why households save and work. The model incorporates multiple sources of risk--health, marital status, wages, medical expenses, and mortality--as well as endogenous labor supply and human capital accumulation, retirement,...
Persistent link: https://www.econbiz.de/10015409907