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Some commentators have argued that the housing crisis may harm labor markets because homeowners who owe more than their homes are worth are less likely to move to places that have productive job opportunities. I show that, in the available data, negative equity does not make homeowners less...
Persistent link: https://www.econbiz.de/10013131307
found in the literature between cognitive ability, and in particular numeracy, and wealth, income constant. We have a number … suggest that causality is more likely to run from pension wealth to pension knowledge, rather than the other way around … forms of wealth. Rather, counting pensions in total wealth, those with more valuable pensions save more for retirement …
Persistent link: https://www.econbiz.de/10013136556
rises in wealth in the cross-section of households in the Survey of Consumer Finances. For a given household, the portfolio … share can fall in response to an increase in wealth, even though the model implies decreasing relative risk aversion …
Persistent link: https://www.econbiz.de/10013138766
, we show that the fraction of household ownership decreases with measures of the tax benefits of holding stocks inside tax …
Persistent link: https://www.econbiz.de/10013119343
.Most families experienced a decline in wealth between 2007 and 2009, but many families saw only small changes on net, and others saw … substantial increases in their wealth. This pattern of gains and losses typically holds within demographic groups. Changes in … families' wealth over the period appear to reflect changes in asset values (particularly the value of homes, stocks, and …
Persistent link: https://www.econbiz.de/10013125924
with greater wealth-at-risk are more likely to hold health insurance. The implicit insurance from bankruptcy distorts the …
Persistent link: https://www.econbiz.de/10013106077
We estimate the level and distribution of global household wealth. The levels of assets and debts for 39 countries are … lacking direct evidence. Data on the pattern of household distribution of wealth are assembled for 20 countries, which … measured using household balance sheet and survey data centred on the year 2000. The determinants of mean financial assets, non …
Persistent link: https://www.econbiz.de/10013154573
wealth accumulation is to finance future consumption, either their own or that of heirs. The paper concludes that the … simplest model that explains the relevant facts is one in which either consumers regard the accumulation of wealth as an end in … itself, or unspent wealth yields a flow of services (such as power or social status) which have the same practical effect on …
Persistent link: https://www.econbiz.de/10012774892
wealth. Moving is often associated with retirement and with precipitating shocks like the death of a spouse or by other … changes in marital status. Median housing wealth increases as the elderly age. Even when the elderly move, housing equity is … transaction cost associated with moving is apparently not the cause for the lack of the reduction in housing wealth as the elderly …
Persistent link: https://www.econbiz.de/10012788697
median wealth plummeted by 44 percent over years 2007 to 2010. The inequality of net worth, after almost two decades of … in median net worth and the rise in overall wealth inequality over these years are largely traceable to the high leverage … of middle class families and the high share of homes in their portfolio. Mean and median wealth rebounded from 2010 to …
Persistent link: https://www.econbiz.de/10012941966