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The Wealth Decumulation Behavior of the Retired Elderly in Italy : The Importance of Bequest Motives and Precautionary Saving

Ventura, Luigi - 2020

In this paper, we analyze the wealth accumulation and saving behavior of the retired elderly in Italy using micro data from the “Survey of Italian Households' Income and Wealth,” a panel survey of households conducted every two years by the Bank of Italy. We find that, on average, the...

Persistent link: https://www.econbiz.de/10012837210

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

The wealth decumulation behavior of the retired elderly in Italy : the importance of bequest motives and precautionary saving

Ventura, Luigi; Horioka, Charles - 2020

In this paper, we analyze the wealth accumulation and saving behavior of the retired elderly in Italy using micro data from the "Survey of Italian Households' Income and Wealth," a panel survey of households conducted every two years by the Bank of Italy. We find that, on average, the retired...

Persistent link: https://www.econbiz.de/10012198628

The financial support for long-term elderly care and household saving behaviour

Ohinata, Asako; Picchio, Matteo - 2017

We analyse how the financial support for long-term elderly care affects the household's propensity to save. Using the difference-in-differences estimator, we investigate the 2002 Scottish reform, which introduced free formal personal care for all the Scottish elderly aged 65 and above. We find...

Persistent link: https://www.econbiz.de/10012111463

Labour supply and informal care supply : the impacts of financial support for long-term elderly care

Hollingsworth, Bruce; Ohinata, Asako; Picchio, Matteo; … - 2017

We investigate the impact of a policy reform, which introduced free formal personal care for all those aged 65 and above, on caregiving behaviour. Using a difference-indifferences estimator, we estimate that the free formal care reduced the probability of co-residential informal caregiving by...

Persistent link: https://www.econbiz.de/10012119579

Dissaving by the Elderly in Japan : Empirical Evidence from Survey Data

Murata, Keiko - 2019

This study empirically examines the (dis)saving behavior of the elderly in Japan using two micro-datasets of household surveys. The long-run dataset, which covers 20 years, indicates that on average, the elderly in Japan dissave, but the pace of dissaving of retired elderly is excessively slow...

Persistent link: https://www.econbiz.de/10012863882

Do the Retired Elderly in Europe Decumulate Their Wealth? The Importance of Bequest Motives, Precautionary Saving, Public Pensions, and Homeownership

Horioka, Charles; Ventura, Luigi - National Bureau of Economic Research - 2022

In this paper, we use micro data on a large number of European countries from the Survey of Health, Ageing and Retirement in Europe (SHARE) to examine the wealth accumulation (saving) behavior of the retired elderly in Europe. To summarize our main findings, we find that less than half of the...

Persistent link: https://www.econbiz.de/10013388826

Does it matter who cares for you? : the effect of substituting informal with formal personal care on the care recipients' health

Hollingsworth, Bruce; Ohinata, Asako; Picchio, Matteo; … - 2022

We show that a Scottish policy reform, which introduced free formal personal home care for those aged 65 and above, reduced the probability and the hours of receiving informal personal care. Moreover, we find that the group of individuals that most benefited from the policy introduction, i.e....

Persistent link: https://www.econbiz.de/10013330646

Household debt and aging in Japan

Horioka, Charles; Niimi, Yoko - 2019

In this paper, we analyze the borrowing behavior of Japanese households in comparison to the other Group of Seven (G7) countries and also broken down by the age group of the household head. We find that pre-retirement households (households with a head in the 50-59 age group) in Japan do not...

Persistent link: https://www.econbiz.de/10012121910

When Should Retirees Tap Their Home Equity?

Hambel, Christoph - 2020

This paper studies a household's optimal demand for a reverse mortgage. These contracts allow homeowners to tap their … home equity to finance consumption needs. In stylized frameworks, we show that the decision to enter a reverse mortgage is … reduces the risky portfolio share and is more likely to enter a reverse mortgage. On the other hand, if there is a large drop …

Persistent link: https://www.econbiz.de/10012824616