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In this paper we analyze the impact of the expectations about future labor income on thesaving behavior of German households. We measure expectations on an individual basisinstead of generalized risk measures as it is common in existing studies. We use aunique panel data set on household...
Persistent link: https://www.econbiz.de/10010877577
Theoretical studies suggest that unexpected changes in future survival probabilities, that is, longevity risk, are important determinants of individuals' decision making about consumption, saving, allocation of assets, and retirement timing. Based on a data set that matches subjective survival...
Persistent link: https://www.econbiz.de/10010551704
This Paper provides a two-part empirical analysis on how actuarial reduction rates for early retirement affect current pension payments in Germany and to what extent the existence and the magnitude of such reduction rates influence people’s retirement planning. First, when looking at...
Persistent link: https://www.econbiz.de/10010796196
We provide evidence of individuals’ awareness of longevity risk (the uncertainty about future survival probabilities) based on subjective survival expectations elicited in the Survey of Health, Ageing and Retirement in Europe (SHARE) and matching data on longevity risk from the Human Mortality...
Persistent link: https://www.econbiz.de/10010688113
Theoretical studies suggest that unexpected changes in future mortality and survival probabilities (stochastic mortality) are important determinants of individuals’ decisions about consumption, saving, asset allocation, and retirement timing. Using data on subjective survival expectations...
Persistent link: https://www.econbiz.de/10008606481
This paper estimates a reduced form model of the Canadian mortgage demand from 1971 to 2010. Three equations are estimated, one for the average real value of new mortgage loans originated, another one for the number of new loans and a third for the flow of real repayment of existing loans. The...
Persistent link: https://www.econbiz.de/10011272945
Rising household debt has become a major policy concern in Korea. By the end of 2012, it had risen to 164% of disposable income, well above the OECD average of 133%. In addition to the economic impact and the risk to the financial sector, it raises social cohesion issues, as households with low...
Persistent link: https://www.econbiz.de/10011276925
The level of household debt has risen in many countries, including Austria. This study examines whether the increased level of debt represents a risk to financial stability. The data used are mainly derived from a survey on households’ financial wealth conducted by the Oesterreichische...
Persistent link: https://www.econbiz.de/10005802613
The empirical literature has demonstrated that housing assets exhibit larger wealth effects than stocks (or, more broadly, financial assets), which is often interpreted as a larger MPC (Marginal Propensity of Consumption) out of housing wealth. Still, the question remains as to whether this...
Persistent link: https://www.econbiz.de/10008532038
In the past decade or so there has been a substantial rise in the indebtedness and debt-servicing obligations of Australian households. This has been accompanied by a trend increase in labour force participation (LFP) for women and more recently for men. Microeconomic data show a clear positive...
Persistent link: https://www.econbiz.de/10005423578