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the change in wealth over the period. The goal of this paper is to examine the advantages and difficulties of using this … on income and wealth to other administrative data with information on financial and real estate transactions. Using this …
Persistent link: https://www.econbiz.de/10012172449
from the English Longitudinal Study of Ageing, an optimal level of wealth is calculated for each household. This is … compared to the levels of wealth observed in the data. Our results show that, for those born in the 1940s, the vast majority of … households have wealth levels far greater than necessary to maintain their living standards into and through retirement. …
Persistent link: https://www.econbiz.de/10010402536
effect of wealth shocks on household consumption and individual expectations of the future. Many household experienced a … significant wealth shocks, but these shocks led to modest spending effects and small revisions to expectations regarding future … bequests. Expectations of bequests seem particularly tied to housing wealth. …
Persistent link: https://www.econbiz.de/10009526546
asymmetry are usually considered as mutually exclusive. Using a single data set for US personal consumption, income and wealth … wealth declines can have considerable negative consumption effects in the short run, households have apparently been able, in … the longer run, to substantially increase consumption expenditure following income and wealth increases, but to keep the …
Persistent link: https://www.econbiz.de/10003744543
both individual survey data on wealth holdings and administrative data on earnings histories from the UK to examine this … question. We find evidence of a positive relationship between saving rates (and wealth accumulation) and levels of permanent … the US, but somewhat at odds with evidence from the UK which has examined retirement wealth and lifetime earnings in the …
Persistent link: https://www.econbiz.de/10010222359
relationship between consumption and income, and more specifically on the wealth effect. A range of different procedures is used to … assess the impact of financial deregulation on global wealth and on its different components (financial, housing and others) ... …
Persistent link: https://www.econbiz.de/10012444896
This paper uses the British Household Panel Survey for the years 1996 to 2000 to investigate whether individuals in the UK save for precautionary motives against uncertain medical costs. In particular, we test the hypothesis that those individuals who are not covered by private medical...
Persistent link: https://www.econbiz.de/10014112813
Differences in individual wealth holdings are widely viewed as a driving force of economic inequality. However, as this … in cross-sections, which eliminates transitory wealth inequality due to age, yet preserves inequality arising from other … yield erroneous wealth inequality rankings of countries …
Persistent link: https://www.econbiz.de/10013159881
We develop the approach of Gokhale, Kotlikoff amp; Sabelhaus (1996), based on the lifecycle model of savings, to decompose the differences in the national saving rates between the UK, US and Italy. Our work suggests that the US saving rate is lower principally because Americans on average retire...
Persistent link: https://www.econbiz.de/10012732550
Using a novel source of quasi-experimental variation in interest rates, we study the response of household debt and intertemporal consumption allocation to interest rates. We also develop a new approach to structurally estimate the Elasticity of Intertemporal Substitution (EIS). In the United...
Persistent link: https://www.econbiz.de/10013017596