Bequest Motives And Other Tales Of Wealth In Retirement
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Bequest Motives And Other Tales Of Wealth In Retirement
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Author : Kara Elizabeth Levine
language : en
Publisher:
Release Date : 2004
Bequest Motives And Other Tales Of Wealth In Retirement written by Kara Elizabeth Levine and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
Incorporating Better Measures Of Bequest Motives And Uncertainty Into The Life Cycle Model
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Author : Chad Everett Abrams
language : en
Publisher:
Release Date : 1994
Incorporating Better Measures Of Bequest Motives And Uncertainty Into The Life Cycle Model written by Chad Everett Abrams and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with categories.
Bequests And Heterogeneity In Retirement Wealth
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Author : Mariacristina De Nardi
language : en
Publisher:
Release Date : 2014
Bequests And Heterogeneity In Retirement Wealth written by Mariacristina De Nardi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Economics categories.
Households hold vastly heterogenous amounts of wealth when they reach retirement, and differences in lifetime earnings explain only part of this variation. This paper studies the role of intergenerational transmission of ability, voluntary bequest motives, and the recipiency of accidental and intended bequests (both in terms of timing and size), in generating wealth dispersion at retirement, in the context of a rich quantitative model. Modeling voluntary bequests, and realistically calibrating them, not only generates more wealth dispersion at retirement and reduces the correlation between retirement wealth and lifetime income, but also generates a skewed bequest distribution that is close to the one in the observed data.
Bequests And Saving For Retirement
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Author : Fabrizio Barca
language : en
Publisher:
Release Date : 1992
Bequests And Saving For Retirement written by Fabrizio Barca and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Inheritance and succession categories.
Death And Dollars
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Author : Alicia H. Munnell
language : en
Publisher: Rowman & Littlefield
Release Date : 2004-05-13
Death And Dollars written by Alicia H. Munnell and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-05-13 with Business & Economics categories.
Despite the recent downturn in the stock market, the 1990s boom and the shift to defined contribution plans mean that more individuals will have significant wealth upon retirement. How they use that wealth will determine not only their own well-being, but also the living standards of their children, the resources available to philanthropies, and the level of investment capital in the economy. This volume explores the reasons why people save, how they decide to allocate their wealth once they retire, and how givers select their beneficiaries. It also assesses the extent to which the estate tax and annuitization of retirement wealth affects the amount and nature of wealth transfers. Finally, it looks at the impact of wealth transfers––first on the amount of aggregate saving and capital accumulation, and then on the distribution of wealth among households. Several conclusions emerge. First, gifts and bequests are important; they may account for about half of total wealth in America. Second, rich people make most of the wealth transfers. They are thoughtful about how much they pay in taxes and how they dispose of their wealth. They care about philanthropic causes and view their charitable contributions as more than a way to avoid paying estate taxes. Third, most nonrich people probably have some lexicographic preferences about the disposition of their wealth; they want to ensure they have adequate resources to take care of their own needs, and if money is left over, they would like it to go to their children. Fourth, little support has emerged for the pure altruistic model of bequests. Fifth, institutions matter. In the case of the rich, the estate tax probably reduces saving and increases bequests to charity. In the case of the nonrich, the shift to defined contribution plans will at a minimum mean that they have more wealth in their hands when they die, and therefore they will leave larger accidental bequests. It might also increase their interest in leaving an estate for their heirs. Saving and bequest behavior remains a fertile ground for future research. Major differences of opinion remain on such important issues as the effect of bequests on the distribution of wealth. The contributors to this volume provide a summary of existing knowledge, push the debate forward, and link topics in a unique and comprehensive way. At the same time, they make clear that many questions remain unresolved about the motives for and effects of wealth transfers.
The Wealth Decumulation Behavior Of The Retired Elderly In Italy
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Author : Luigi Ventura
language : en
Publisher:
Release Date : 2020
The Wealth Decumulation Behavior Of The Retired Elderly In Italy written by Luigi Ventura and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
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 elderly in Italy are decumulating their wealth (dissaving) but that their wealth decumulation rates are much slower than expected. Moreover, we also find that more than 40 percent of the retired elderly in Italy are continuing to accumulate wealth and that more than 80 percent are doing positive amounts of saving. Thus, the Wealth Decumulation Puzzle (the tendency of the retired elderly to decumulate their wealth more slowly than expected) appears to apply in the case of Italy, as it does in most other countries, before as well as after the Global Financial Crisis. Moreover, our regression analysis of the determinants of the wealth accumulation and saving behavior of the retired elderly in Italy suggests that the lower than expected wealth decumulation rates and dissaving of the retired elderly in Italy is due largely to intergenerational transfers (bequests and inter vivos transfers) and saving for precautionary purposes, especially the former.
Dissertation Abstracts International
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Author :
language : en
Publisher:
Release Date : 2005
Dissertation Abstracts International written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Dissertations, Academic categories.
Three Essays On Retirement Wealth
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Author : Lina Walker
language : en
Publisher:
Release Date : 2005
Three Essays On Retirement Wealth written by Lina Walker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Death And Dollars
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Author : Alicia H. Munnell
language : en
Publisher: Rowman & Littlefield
Release Date : 2004-05-13
Death And Dollars written by Alicia H. Munnell and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-05-13 with Business & Economics categories.
Despite the recent downturn in the stock market, the 1990s boom and the shift to defined contribution plans mean that more individuals will have significant wealth upon retirement. How they use that wealth will determine not only their own well-being, but also the living standards of their children, the resources available to philanthropies, and the level of investment capital in the economy. This volume explores the reasons why people save, how they decide to allocate their wealth once they retire, and how givers select their beneficiaries. It also assesses the extent to which the estate tax and annuitization of retirement wealth affects the amount and nature of wealth transfers. Finally, it looks at the impact of wealth transfers––first on the amount of aggregate saving and capital accumulation, and then on the distribution of wealth among households. Several conclusions emerge. First, gifts and bequests are important; they may account for about half of total wealth in America. Second, rich people make most of the wealth transfers. They are thoughtful about how much they pay in taxes and how they dispose of their wealth. They care about philanthropic causes and view their charitable contributions as more than a way to avoid paying estate taxes. Third, most nonrich people probably have some lexicographic preferences about the disposition of their wealth; they want to ensure they have adequate resources to take care of their own needs, and if money is left over, they would like it to go to their children. Fourth, little support has emerged for the pure altruistic model of bequests. Fifth, institutions matter. In the case of the rich, the estate tax probably reduces saving and increases bequests to charity. In the case of the nonrich, the shift to defined contribution plans will at a minimum mean that they have more wealth in their hands when they die, and therefore they will leave larger accidental bequests. It might also increase their interest in lea
Forced Saving
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Author : Hazel Bateman
language : en
Publisher: Cambridge University Press
Release Date : 2001-11-20
Forced Saving written by Hazel Bateman and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-11-20 with Biography & Autobiography categories.
Forced Saving, first published in 2001, offers an analysis of pension policy from an economic perspective. It begins with an overview of the problem of population ageing around the world, and then provides a framework within which policy responses may be consistently assessed. It focuses on the 'mandating' approach to retirement income policy, in which governments are compelling individuals - or their employers - to take on this responsibility, at least in part. The role of government becomes limited to one of mandating contributions from wages, along with regulating private fund managers to a greater or lesser extent. The authors explore the implications of introducing such a policy reform. They argue that while there is no universal agreement on the relative costs and benefits of this policy approach, there are often some advantages to moving at least some distance down the mandating path.