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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

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

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

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

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

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

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

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

Retirement sorted? : the adequacy and optimality of wealth among the near-retired

Crawford, Rowena; O'Dea, Cormac - 2014

Much of the focus of the UK pensions policy debate over the past decade has been on the adequacy (or otherwise) of private retirement saving. In this paper, we present the first assessment of the optimality of the retirement resources of English couple households born in the 1940s. Here,...

Persistent link: https://www.econbiz.de/10010402537

Intra-household allocation of non-mandatory retirement savings

Metzger, Christoph - 2016

Traditionally, households have been seen as acting as a single unit when it comes to savings. Although this might be … correct for some parts of household savings, we question the correctness of the unitary model with respect to non …-mandatory retirement savings. To answer this question we analyze the intra-household allocation of retirement savings between partners in …

Persistent link: https://www.econbiz.de/10011434405

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