Erkenntnis, dass immobilienbezogene Entscheidungen langfristig über den gesamten Lebenszyklus zu treffen sind, damit ein …

. This paper shows that such reference dependence can affect savings in opposite directions depending on whether people face … liquidity constraints. Existing models for wealth and intertemporal choice predict that reference dependence reduces savings but … increase optimal savings for people without access to credit. Liquidity constraints force them to take part of an income loss …

There is an on-going debate about the level of savings in New Zealand. A fundamental question pervades the debate … the findings from the Household Savings Survey. The evidence we present, tentative though it is, does suggest that there …