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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
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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
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Household saving behavior and credit constraints in the Euro area
Le Blanc, Julia; Porpiglia, Alessandro; Teppa, Federica; … - 2014
We study the role of household saving behaviour, of individual motives for saving and that of perceived liquidity constraints in 15 Euro Area countries. The empirical analysis is based on the Household Finance and Consumption Survey, a new harmonized data set collecting detailed information on...
Persistent link: https://www.econbiz.de/10010388544
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Consumption and Voluntary Savings Response to Service Tax
Seal, Jayanta Kumar - 2020
In this paper, we estimate the effect of a tax policy change on households' consumption and retirement savings behavior …, by using a unique panel data of voluntary retirement savings (PPF) and debit card spending transactions. On average, we … find that households reduce their consumption by 14% and increase their PPF savings by 16% in response to an increase in …
Persistent link: https://www.econbiz.de/10012824255
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The Influence of Design Costs on Investments in Individual Savings Accounts
van de Ven, Justin - 2013
This study considers the efficacy of a tax incentivised savings scheme in context of decision making rigidities …. Analysis is based on a classical life-cycle model of savings and investment decisions, augmented with a salience cost over … participation in Individual Savings Accounts (ISAs) currently run in the UK. Calibration results indicate that salience costs help …
Persistent link: https://www.econbiz.de/10013080421
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Is the selfish life-cycle model more applicable in Japan and, if so, why? : a literature survey
Horioka, Charles - 2020
The selfish life-cycle model or hypothesis is, together with the dynasty or altruism model, the most widely used theoretical model of household behavior in economics, but does this model apply in the case of a country like Japan, which is said to have closer family ties than other countries? In...
Persistent link: https://www.econbiz.de/10012291218
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Saving after retirement and preferences for residual wealth
Fella, Giulio; Holm, Martin Blomhoff; Pugh, Thomas - 2024 - Last updated: June 11, 2024
We use administrative data for Norway to estimate an incomplete-market life cycle model of retired singles and couples with a bequest motive, health-dependent utility, and uncertain longevity and health. We allow the parameters of the bequest utility to differ between households with and without...
Persistent link: https://www.econbiz.de/10014562957
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Consumption Smoothing under Labor Market Uncertainty : Do Household Characteristics Impact Saving?
Kroeger, Sarah - 2020
We examine the household consumption response to fluctuations in income and uncertainty, exploiting a large panel dataset that spans the period of the Great Recession. The results show that after controlling for changes in realized income, both household-specific income uncertainty and local...
Persistent link: https://www.econbiz.de/10012847991
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Cognitive Constraints, Planned Savings, and Downstream Economic Behaviors
Post, Thomas; Ye, Zihan; Zou, Xiaopeng; Chen, Shenglan - 2023
is, individuals’ propensity to plan, planned savings amounts, and actual economic outcomes (savings, portfolio choice … relevant for planning concrete (and higher) savings amounts. Moreover, the propensity to plan and planned savings amounts help …
Persistent link: https://www.econbiz.de/10014254249
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Do required minimum distribution 401(k) rules matter, and for whom? : insights from a lifecylce model
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2021
Tax-qualified vehicles helped U.S. private-sector workers accumulate $25Tr in retirement assets. An often-overlooked important institutional feature shaping decumulations from these retirement plans is the "Required Minimum Distribution" (RMD) regulation, requiring retirees to withdraw a minimum...
Persistent link: https://www.econbiz.de/10012668367