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Do the Retired Elderly in Europe Decumulate Their Wealth? The Importance of Bequest Motives, Precautionary Saving, Public Pensions, and Homeownership
Horioka, Charles; Ventura, Luigi - National Bureau of Economic Research - 2022
Retirement in Europe (SHARE) to examine the wealth accumulation (saving) behavior of the retired elderly in Europe. To summarize … period). These findings strongly suggest that the Wealth Decumulation (or Retirement Saving) Puzzle (the tendency of the …
Persistent link: https://www.econbiz.de/10013388826
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Social Security Claiming Intentions : Psychological Ownership, Loss Aversion, and Information Displays
Shu, Suzanne B.; Payne, John W. - National Bureau of Economic Research - 2023
For many Americans the question of when to claim Social Security benefits is one of the most consequential financial decisions they will ever face. While acknowledging that individuals differ in terms of optimal timing for starting Social Security benefits, many economists argue that an average...
Persistent link: https://www.econbiz.de/10014322886
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Economic Impact Payments and Household Spending During the Pandemic
Parker, Jonathan A.; Schild, Jake; Erhard, Laura; … - National Bureau of Economic Research - 2022
Households spent only a small fraction of their 2020 Economic Impact Payment (EIPs) within a couple of months of arrival, consistent with i) pandemic constraints on spending, ii) other pandemic programs and social insurance, and iii) the broader disbursement of the EIPs compared to the economic...
Persistent link: https://www.econbiz.de/10013435158
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Protective Behavior and Life Insurance
Hurwitz, Abigail; Mitchell, Olivia S.; Sade, Orly - National Bureau of Economic Research - 2024
We study life insurance market responses to Covid-19 using unique national administrative data from Israel on purchases and cancellations of life insurance policies, and an internet survey of Americans' life insurance choices, risk attitudes, Covid-19 perceptions, and vaccination behavior. We...
Persistent link: https://www.econbiz.de/10014486194
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Intergenerational Mobility and Credit
Braxton, John Carter; Chikhale, Nisha; Herkenhoff, Kyle; … - National Bureau of Economic Research - 2024
We combine the Decennial Census, credit reports, and administrative earnings to create the first panel dataset linking parent's credit access to the labor market outcomes of children in the U.S. We find that a 10% increase in parent's unused revolving credit during their children's adolescence...
Persistent link: https://www.econbiz.de/10014468231
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Households' Response to the Wealth Effects of Inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - National Bureau of Economic Research - 2023
We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...
Persistent link: https://www.econbiz.de/10014372429
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The Impact of Unconditional Cash Transfers on Consumption and Household Balance Sheets : Experimental Evidence from Two US States
Bartik, Alexander W.; Rhodes, Elizabeth; Broockman, David E. - National Bureau of Economic Research - 2024
We provide new evidence on the causal effect of unearned income on consumption, balance sheets, and financial outcomes by exploiting an experiment that randomly assigned 1000 individuals to receive $1000 per month and 2000 individuals to receive $50 per month for three years. The transfer...
Persistent link: https://www.econbiz.de/10015056108
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Why Do Europeans Save? Micro-Evidence from the Household Finance and Consumption Survey
Horioka, Charles; Ventura, Luigi - National Bureau of Economic Research - 2024
rank them but that the retirement motive is the most important saving motive of European households if the quantitative … each saving motive, with saving for the retirement motive being less important in countries with generous public pension … suggest that the retirement motive and the precautionary motive are the dominant motives for saving in Europe partly because …
Persistent link: https://www.econbiz.de/10015056164
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Subjective Income Expectations and Household Debt Cycles
D'Acunto, Francesco; Weber, Michael; Yin, Xiao - National Bureau of Economic Research - 2024
Matched transaction-level, credit-registry, and survey-based data reveal that consumers on average form excessively high (low) income expectations relative to ex-post realizations after unexpected positive (negative) income shocks. These extrapolative income expectations lead consumers to...
Persistent link: https://www.econbiz.de/10014635678
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Credit When You Need It
Collier, Benjamin L.; Hartley, Daniel A.; Keys, Benjamin J. - National Bureau of Economic Research - 2024
We estimate the causal effect of emergency credit on households' finances after a negative shock. To do so, we link application data from the U.S. Federal Disaster Loan program, which provides loans to households that have uninsured damages from a federally-declared natural disaster, to a panel...
Persistent link: https://www.econbiz.de/10015056171