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considered: total wealth; an annualized measure of AIME; the wealth value of pensions; and a measure of average indexed lifetime …
Persistent link: https://www.econbiz.de/10010951055
Projected demographic changes in industrialized and developing countries vary in extent and timing but will reduce the share of the population in working age everywhere. Conventional wisdom suggests that this will increase capital intensity with falling rates of return to capital and increasing...
Persistent link: https://www.econbiz.de/10010969353
Demographic change has differential impacts on the welfare of current and future generations. In a simple closed economy, aging -- a relative scarcity of young workers -- increases wages, increasing the welfare of the young. At the same time, population aging will reduce rates of return to...
Persistent link: https://www.econbiz.de/10005778836
world-wide rates of return, international capital flows and the distribution of wealth and welfare in the OECD. We find that … consumption, from higher wages associated with population aging. Older, asset-rich households tend to lose, because of the …
Persistent link: https://www.econbiz.de/10005088817
The common approach to evaluating a model in the structural VAR literature is to compare the impulse responses from structural VARs run on the data to the theoretical impulse responses from the model. The Sims-Cogley-Nason approach instead compares the structural VARs run on the data to...
Persistent link: https://www.econbiz.de/10005774407
Fiscal sustainability is one of the most pressing policy issues of our time. Yet it remains difficult to quantify. Official debt is plagued with a number of measurement difficulties since its measurement reflects the choice of words, not policies. And forming the fiscal gap-the imbalance in the...
Persistent link: https://www.econbiz.de/10011188530
arising from uninsured health status risks. The model distinguishes between annuitized and non-annuitized wealth, emphasizes …-in-life exchange transactions among relatives. We consider three puzzles in micro data - rising cohort average wealth of retirees, lack …
Persistent link: https://www.econbiz.de/10010950965
This paper uses data from the Health and Retirement Study to examine the effects of the Great Recession on the wealth … wealth in 2012 remained 3.6 percent below its 2006 value. This is a modest decline considering the fall in asset values … during the Great Recession. Much of the decline in wealth over the 2006 to 2010 period was cushioned by wealth originating …
Persistent link: https://www.econbiz.de/10010951339
Security benefits is reduced by roughly one fifth. This amounts to five to six percent of the total wealth they accumulate …
Persistent link: https://www.econbiz.de/10010951402
A review of the literature suggests that when pension values are measured by the wealth equivalent of promised DB …. Estimates from the Health and Retirement Study (HRS) for respondents in their early fifties suggest that pension wealth is about … 86 percent as valuable as Social Security wealth. In data from the Current Population Survey (CPS), for members of the …
Persistent link: https://www.econbiz.de/10010951474