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light on the impact of intergenerational transfers on household wealth disparities and on possible reasons for the … substantial differences in household wealth disparities among the 4 countries. Almost all of the evidence I present suggests that … intergenerational transfers have a disequalizing impact on household wealth disparities and promote the transmission of household wealth …
Persistent link: https://www.econbiz.de/10015094857
Retirement in Europe (SHARE) to examine the wealth accumulation (saving) behavior of the retired elderly in Europe. To summarize … our main findings, we find that less than half of the retired elderly in Europe are decumulating their wealth and that the … average wealth accumulation rate of the retired elderly in Europe is positive though relatively moderate (6.6% over a 3-year …
Persistent link: https://www.econbiz.de/10013388826
concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal assets, most are … beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once …
Persistent link: https://www.econbiz.de/10014372429
This paper explores the determinants of the level of, and trends over time in, Japan's household saving rate, with emphasis on the impact of the age structure of the population, and makes projections about future trends therein. The paper finds that Japan's household saving rate has not always...
Persistent link: https://www.econbiz.de/10015145132
Digital technologies and fintech firms have rapidly reshaped the consumer financial landscape in recent years, and have the potential to help consumers make better decisions and improve their financial health. Existing technologies such as autopay are also experiencing increased takeup, a trend...
Persistent link: https://www.econbiz.de/10014528372
We analyze the saving motives of European households using micro-data from the Household Finance and Consumption Survey (HFCS), which is conducted by the European Central Bank. We find that the rank ordering of saving motives differs greatly depending on what criterion is used to rank them. For...
Persistent link: https://www.econbiz.de/10015056164
wealth accumulation through several distinct channels. We focus on genetic markers that predict educational attainment … returns, both of which contribute to wealth inequality. Counterfactual policy exercises indicate that two ways to lower costs … distributions of welfare costs even though the latter policy appears to reduce wealth differences between agents with different …
Persistent link: https://www.econbiz.de/10013362004
We propose a new method to test for efficient risk pooling that allows for intertemporal smoothing, non-homothetic consumption, and heterogeneous risk and time preferences. The method is composed of three steps. The first one allows for precautionary savings by the aggregate risk pooling group....
Persistent link: https://www.econbiz.de/10013334347
Rising wealth inequality has spurred an increased interest in understanding how and why wealth is correlated across … generations. We exploit plausibly exogenous variation in housing wealth driven by home price changes in different areas to isolate … the causal impact of parental housing wealth during different childhood periods on children's long-run wealth accumulation …
Persistent link: https://www.econbiz.de/10014372426
Is the top tail of wealth a set of fixed individuals or is there substantial turnover? We estimate upper-tail wealth … dynamics during the Gilded Age and beyond, a time of rapid wealth accumulation and concentration in the late 19th and early 20 …th centuries. Using various wealth proxies and data tracking tens of millions of individuals, we find that most extremely …
Persistent link: https://www.econbiz.de/10015195000