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The impact of wealth on consumption and retirement behaviour in the UK

Blake, David - London School of Economics (LSE) - 2002

Housing and pension wealth are shown to be important determinants of personal sector consumption and retirement … promotes greater savings. Greater private defined benefit pension wealth encourages earlier retirement, while greater de …¯ned contribution pension wealth has the e®ect of delaying retirement. State pension wealth appears to have no effect on the retirement …

Persistent link: https://www.econbiz.de/10011071212

Credit card debt and default over the life-cycle

Lopes, Paula - London School of Economics (LSE) - 2003

This paper solves an empirically parameterised model of life-cycle consumption which extends the precautionary savings models of Carroll (1997), and Deaton (1991), to allow for uncollaterized borrowing and default. In case households choose to default: (i) their access to credit markets is...

Persistent link: https://www.econbiz.de/10011071178

Stochastic lifestyling: optimal dynamic asset allocation for defined contribution pension plans

Cairns, Andrew J. G.; Blake, David; Dowd, Kevin - London School of Economics (LSE) - 2004

phase; and interest-rate risk at the point of retirement. We propose a new form of terminal utility function, incorporating …

Persistent link: https://www.econbiz.de/10010746138

The finance-welfare state nexus

Gerba, Eddie; Schelkle, Waltraud - London School of Economics (LSE) - 2013

At the height of the financial crisis, the Western welfare state prevented a repeat of the Great Depression. But there were also suggestions that social policy had contributed to the crisis, particularly by promoting households’ access to credit in pursuit of welfare goals. Others claim that...

Persistent link: https://www.econbiz.de/10011125995

Keeping it simple: financial literacy and rules of thumb

Drexler, Alejandro; Fischer, Gregory; Schoar, Antoinette - London School of Economics (LSE) - 2010

Individuals and business owners engage in an increasingly complex array of financial decisions that are critical for their success and well-being. Yet a growing literature documents that in both developed and developing countries, a large fraction of the population is unprepared to make these...

Persistent link: https://www.econbiz.de/10010884647

Homeownerhip and entrepreneurship

Bracke, Philippe; Hilber, Christian; Silva, Olmo - London School of Economics (LSE) - 2012

We study the link between homeownership and entrepreneurship by exploiting the longitudinal dimension of the British Household Panel Survey (BHPS) and constructing a detailed monthly-spell dataset that tracks individuals‟ job history and tenure choice, coupled with other time-varying...

Persistent link: https://www.econbiz.de/10011126138

Developing family development accounts in Taipei: policy innovation from income to assets

Cheng, Li-Chen - London School of Economics (LSE) - 2004

In July 2000, the Taipei City Government launched an anti-poverty program, Taipei Family Development Accounts, which drew heavily on Sherraden¿s asset-based welfare theory, and was to provide matched savings accounts for low-income families in the City. This paper presents the ¿income to...

Persistent link: https://www.econbiz.de/10011126161

Long-term debt and hidden borrowing

Bar-Isaac, Heski; Cuñat, Alejandro - London School of Economics (LSE) - 2005

We consider borrowers with the opportunity to raise funds from a competitive banking sector that shares information, and from an alternative hidden lender. The presence of the hidden lender restricts the contracts that can be obtained from the banking sector. In equilibrium some borrowers obtain...

Persistent link: https://www.econbiz.de/10011071410

Access to finance: a functional approach to supply and demand

Fischer, Gregory - London School of Economics (LSE) - 2011

This paper provides a comprehensive description of the financial environment for households and small businesses in a defined geographical region. It develops a new, functional approach to financial access surveys, which involves asking detailed questions about how respondents meet their...

Persistent link: https://www.econbiz.de/10011071530

The mortgage interest deduction and its impact on homeownership decisions

Hilber, Christian A. L.; Turner, Tracy M. - London School of Economics (LSE) - 2010

This paper examines the impact of the combined U.S. state and federal mortgage interest deduction (MID) on homeownership attainment, using data from 1984 to 2007 and exploiting variation in the subsidy across states, over time and due to inter-state moves. We test whether capitalization of the...

Persistent link: https://www.econbiz.de/10010884709