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We examine whether Japanese households have begun to dissave and reduce their holdings of risky assets because of population aging over the period 2000–14. While there is little doubt that household savings have decreased, the true trend without a negative income shock in the early 2000s would...
Persistent link: https://www.econbiz.de/10012964317
-ownership, consumption pattern in the cross- section and through life-cycle. We find that the lack of stock market access, proxied by a fixed …
Persistent link: https://www.econbiz.de/10013220268
This paper provides a framework to endogenize rates of return for risk-free bonds and risky capital in an overlapping generation model. The rate of return on capital is endogenized by introducing idiosyncratic production shocks to avoid computation challenges associated with aggregate production...
Persistent link: https://www.econbiz.de/10012839193
This study examined how Australia's tax and transfer system, especially in relation to the Age Pension, impacts on household retirement choices. As the population ages, fiscal challenges created when many individuals retire from working and paying tax to drawing government funded benefits and...
Persistent link: https://www.econbiz.de/10012899320
Persistent link: https://www.econbiz.de/10001738866
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house … portfolios, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the … heterogeneity in household finances implies that responses of consumption to changes in the real interest rate and in house prices …
Persistent link: https://www.econbiz.de/10011863469
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ …
Persistent link: https://www.econbiz.de/10012129430
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ …
Persistent link: https://www.econbiz.de/10012133482
The changing social, financial and regulatory frameworks, such as an increasingly aging society, the current low interest rate environment, as well as the implementation of Solvency II, lead to the search for new product forms for private pension provision. In order to address the various...
Persistent link: https://www.econbiz.de/10011512972
Persistent link: https://www.econbiz.de/10001682428