Similar Search Results

Does the selfish life-cycle model apply in the case of Japan?

Horioka, Charles - 2020

In this paper, we first provide a brief exposition of the simplest version of the selfish life cycle model or hypothesis, which is undoubtedly the most widely used theoretical model of household behavior in economics, and then survey the literature on household saving behavior in Japan (with...

Persistent link: https://www.econbiz.de/10012195738

Household portfolios and financial preparedness for retirement

Crawford, Rowena; O'Dea, Cormac - In: Quantitative economics : QE ; journal of the … 11 (2020) 2, pp. 637-670

factors for households and compare these estimates of their patience to their replacement rates-the simple measure often used …

Persistent link: https://www.econbiz.de/10012213993

Why do Europeans save? : micro-evidence from the household finance and consumption survey

Horioka, Charles; Ventura, Luigi - 2024

In this paper, we analyze the saving motives of European households using micro-data from the Household Finance and Consumption Survey (HFCS), which is conducted by the European Central Bank. We find that the rank ordering of saving motives differs greatly depending on what criterion is used to...

Persistent link: https://www.econbiz.de/10015047840

Chapter 10. Conflict and Cooperation Within the Family, and Between the State and the Family, in the Provision of Old-Age Security

Cigno, A. - In: Handbook of the economics of population aging : Volume 1, (pp. 609-660). 2016

The early contributions to the microeconomic literature assume that only market goods yield utility, and that the only way adults can secure the consumption of these goods in old age is by saving. The more recent contributions recognize, however, that the elderly derive utility also from goods...

Persistent link: https://www.econbiz.de/10014023481

Optimal sharing of labor productivity risks and mix of pay-as-you-go and savings

Kusmerski Bilard, Debora - 2008

above the expected growth rate of the economy and when thegovernment has a lifetime perspective of the risk exposure. The …

Persistent link: https://www.econbiz.de/10011376622

The sustainability of the pay-as-you-go system with falling birth rates

Praag, Bernard M. S. van; Cardoso, Pedro - 2002

and the relative shares of the two systems may be explained and are determined by the population growth rate …, technological growth, the time-preference discount rate, the relative risk aversion, the production function, and the degree of … altruism. A fall in the population growth rate, even to negative values, will imply a reduction of the interest rate and an …

Persistent link: https://www.econbiz.de/10011326408

Multi-Period Risk Sharing Under Financial Fairness

Bao, Hailong - 2016

We work with a multi-period system where a finite number of agents need to share multiple monetary risks. We look for the solutions that are both Pareto efficient utility-wise and financially fair value-wise. A buffer enables the inter-temporal capital transfer. Expected utility is used to...

Persistent link: https://www.econbiz.de/10013002996

The Political Economy of Intergenerational Cooperation

Cigno, Alessandro - 2021

The paper examines the scope for mutually beneficial intergenerational cooperation, and looks at various attempts to theoretically explain the emergence of norms and institutions that facilitate this cooperation. After establishing a normative framework, we examine the properties of the...

Persistent link: https://www.econbiz.de/10013318048

Public Bequests as a Pension Scheme

Pirrone, Andrea - 2018

Governments have phased out pay-as-you-go pension schemes in favor of funded ones. Instead of dropping the intergenerational transfers of the pay-as-you-go pensions, we propose to invert them. In this way, resources would flow from old to young generations as if it were a system of public...

Persistent link: https://www.econbiz.de/10012913856

Net intergenerational transfers from an increase in social security benefits

Gan, Li (contributor); Gong, Guan (contributor); … - 2006

When the age of death is uncertain, individuals will leave bequestseven if they have no desired bequestssimply because they will hold wealth against the possibility of living longer. Bequests are accidental. Starting from a baseline level of Social Security benefits, an increase in benefits will...

Persistent link: https://www.econbiz.de/10003720947