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-in-difference regression analysis to compare the last cohorts to receive New Zealand Superannuation at the age of 60 years old with the first …This paper examines the effect of the last increase in the eligibility age for New Zealand’s public pension, New … Zealand Superannuation, on household saving rates. The age of eligibility was increased progressively from 60 to 65 years old …
Persistent link: https://www.econbiz.de/10010992364
While it is common to use income uncertainty to explain household saving decisions, there is much disagreement about the importance of precautionary saving. This paper suggests that income uncertainty is not an important motive for saving, although households do have other precautionary reasons...
Persistent link: https://www.econbiz.de/10010940955
I show that conventional estimators based on the consumption Euler equation, extensively used in studies of intertemporal consumption behavior, produce inconsistent estimates of the effect of children on consumption if potentially binding credit constraints are ignored. As a more constructive...
Persistent link: https://www.econbiz.de/10010743075
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
. While saving differs substantially across age groups we find that, at least in part, this reflects differing circumstances …
Persistent link: https://www.econbiz.de/10010815232
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though … Boomers rely more on housing equity than their predecessors. Most important, planners in both cohorts arrive close to …
Persistent link: https://www.econbiz.de/10010958739
longevity projections allowing estimation of the contributions that many overlapping age cohorts might make to national savings …
Persistent link: https://www.econbiz.de/10010723260
on Norwegian data that show a tendency for older birth cohorts to have higher saving rates, but that the differences are … elderly cannot be primarily attributed to cohorts effect. To ensure that the findings are robust, a variety of econometric …
Persistent link: https://www.econbiz.de/10005652290
a widening and possibly a subsequent narrowing with age of the gradient in health by SES. …
Persistent link: https://www.econbiz.de/10008490278
This paper presents a theory of the demand for health, health investment and longevity, building on the human capital framework for health and addressing limitations of existing models. It predicts a negative correlation between health investment and health, that the health of wealthy and...
Persistent link: https://www.econbiz.de/10008833446