Consumption Savings And Investments Over The Life Cycle

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Consumption Savings And Investments Over The Life Cycle

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Author : Joachim Maria Johanna Peijnenburg
language : en
Publisher:
Release Date : 2011

Consumption Savings And Investments Over The Life Cycle written by Joachim Maria Johanna Peijnenburg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.

Life Cycle Savings And Public Policy

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Author : Axel Borsch-Supan
language : en
Publisher: Elsevier
Release Date : 2003-01-09

Life Cycle Savings And Public Policy written by Axel Borsch-Supan and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-09 with Business & Economics categories.

Life-Cycle Savings and Public Policy examines data on many households from a number of different countries. The hope is that through these observations we can learn about the ways policies affect savings, and that other differences among savers can be controlled for, instead of being blamed on cultural differences. This book features a consistent framework among chapters. It reaches a harmony between measurement and analysis to compare accurately the resulting data and statistics. It provides econometric methodology to reveal the way policies affect savings. The book features data on household savings in Germany, Italy, Japan, the Netherlands, the U.K., and the U.S. This book is recommended reading for anyone interested in saving, social insurance policy, or capital formation. Features a consistent framework among chapters Reaches a harmony between measurement and analysis to compare accurately the resulting data and statistics Provides econometric methodology to reveal the way policies affect savings

National Saving And Economic Performance

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Author : John B. Shoven
language : en
Publisher: University of Chicago Press
Release Date : 2009-02-15

National Saving And Economic Performance written by John B. Shoven and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-15 with Business & Economics categories.

The past decade has witnessed a decline in saving throughout the developed world—the United States has the dubious distinction of leading the way. The consequences can be serious. For individuals, their own economic security and that of their families is jeopardized. For society, inadequate rates of saving have been blamed for a variety of ills—decreasing the competitive abilities of American industry, slowing capital accumulation, increasing our trade deficit, and forcing the sale of capital stock to foreign investors at bargain prices. Restoring acceptable rates of saving in the United States poses a major challenge to those who formulate national economic policy, especially since economists and policymakers alike still understand little about what motivates people to save. In National Saving and Economic Performance, edited by B. Douglas Bernheim and John B. Shoven, that task is addressed by offering the results of new research, with recommendations for policies aimed to improve saving. Leading experts in diverse fields of economics debate the need for more accurate measurement of official saving data; examine how corporate decisions to retain or distribute earnings affect household-level consumption and saving; and investigate the effects of taxation on saving behavior, correlations between national saving and international investment over time, and the influence of economic growth on saving. Presenting the most comprehensive and up-to-date research on saving, this volume will benefit both academic and government economists.

An Interdisciplinary Approach To Savings Behavior Over The Life Cycle

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Author : You-Hyun Cho
language : en
Publisher:
Release Date : 1992

An Interdisciplinary Approach To Savings Behavior Over The Life Cycle written by You-Hyun Cho and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Saving and investment categories.

Essays On Portfolio Choice And Health Over The Life Cycle

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Author : You Du
language : en
Publisher:
Release Date : 2021

Essays On Portfolio Choice And Health Over The Life Cycle written by You Du and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.

This dissertation examines the effect of health and its associated variables on households' consumption and portfolio choices over life cycle. The first two essays constitute my job market paper, which explains why the risky portfolio share rises in wealth from two health mechanisms: endogenous health investment and medical expenditure risk. The third chapter explores the effect of health and health risk on households' optimal consumption and portfolio decisions over life cycle. Chapter 1 titled ``PORTFOLIO CHOICE AND HEALTH ACROSS WEALTH: EMPIRICAL EVIDENCE" illustrates the empirical relationship between the portfolio puzzle and the heterogeneity of health variables across wealth. Classic financial theory suggests that under the assumption of no borrowing constraints and no mean-reverting stock returns, households should hold a constant risky portfolio in spite of their wealth, ages and life horizons (Samuelson (1969) and Merton (1969, 1971)). Yet data from the Survey of Consumers Finances (SCF) show that the risky portfolio share of financial assets increases in wealth. In the literature, this is called the ``portfolio puzzle". Meanwhile, various sources of data indicate that, compared with the non-wealthy households, the wealthy people have better health, longer life horizon, higher out of pocket medical spending with lower uncertainty, and more health care time. All these facts suggest a novel correlation between the portfolio puzzle and the heterogeneity of health variables across wealth and provide a robust empirical foundation to explain the portfolio puzzle from a health perspective. In Chapter 2 titled ``A LIFE CYCLE MODEL OF PORTFOLIO CHOICE AND HEALTH", a life cycle model with endogenous health investment and medical expenditure risk is proposed to capture the key empirical features in the first chapter. This calibrated model remarkably matches the U.S. data. I find that endogenous health investment is essential to explain the portfolio puzzle: if health is exogenous without investment, the model can only could deliver 7.2% of the risky share gap across wealth. Medical expenditure risk is less important and has a larger effect on the non-wealthy group. If I abstract from medical expenditure risk, the risky shares increase for both groups: 24% for the low wealth group and 5% for the wealthy group. This life cycle model provides new insights into how health affects households' financial behavior. Chapter 3 titled ``OPTIMAL CONSUMPTION AND PORTFOLIO CHOICE WITH HEALTH RISK" investigates the effect of health and health risk on households' optimal consumption and portfolio allocations over the life cycle. The simulation results show that consumption, savings in bonds, and savings in stocks all increase with health. The risky portfolio share, which is the ratio of savings in stocks to the total financial assets, demonstrates the same tendency for both health states over the life cycle: at the very young age, the risky portfolio share is relatively high. Starting from the middle age, this share falls significantly and keeps steady until the end of life. For most of the lifetime, the risky portfolio share is positively related with health. These results emphasize the importance of health and its associated risk in consumption and portfolio decisions.

Savings And Investment In Farm Households

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Author : Euan Phimister
language : en
Publisher:
Release Date : 1993

Savings And Investment In Farm Households written by Euan Phimister and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.

Proceedings Of The Conference On Consumption And Saving Volumes 1 And 2

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Author : Irwin Friend
language : en
Publisher: University of Pennsylvania Press
Release Date : 2017-01-19

Proceedings Of The Conference On Consumption And Saving Volumes 1 And 2 written by Irwin Friend and has been published by University of Pennsylvania Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-19 with Business & Economics categories.

These two volumes, bound together, represent the papers, comments, and rejoinders presented at the Conference on Consumption and Saving held 30-31 March 1959 at the Wharton School of Finance and Commerce at the University of Pennsylvania. The first volume is devoted to an analysis of consumption behavior with a primary focus of attention on the determinants of the major categories of consumption. The second volume is devoted to an analysis of saving behavior.

Encyclopedia Of Gerontology And Population Aging

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Author : Danan Gu
language : en
Publisher: Springer
Release Date : 2021-11-03

Encyclopedia Of Gerontology And Population Aging written by Danan Gu and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-03 with Family & Relationships categories.

This eight-volume encyclopedia brings together a comprehensive collection of work highlighting established research and emerging science in all relevant disciplines in gerontology and population aging. It covers the breadth of the field, gives readers access to all major sub-fields, and illustrates their interconnectedness with other disciplines. With more than 1300 cross-disciplinary contributors—including anthropologists, biologists, economists, psychiatrists, public policy experts, sociologists, and others—the encyclopedia delves deep into key areas of gerontology and population aging such as ageism, biodemography, disablement, longevity, long-term care, and much more. Paying careful attention to empirical research and literature from around the globe, the encyclopedia is of interest to a wide audience that includes researchers, teachers and students, policy makers, (non)governmental agencies, public health practitioners, business planners, and many other individuals and organizations.

Household Saving And Full Consumption Over The Life Cycle

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Author : Patricia Apps
language : en
Publisher:
Release Date : 2001

Household Saving And Full Consumption Over The Life Cycle written by Patricia Apps and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.

Life Cycle Investing And Occupational Old Age Provision In Switzerland

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Author : Florian Zainhofer
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-08-01

Life Cycle Investing And Occupational Old Age Provision In Switzerland written by Florian Zainhofer and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-08-01 with Business & Economics categories.

Florian Zainhofer uses the theory of life cycle investing as a framework to study the implications of a potential BVG individualization. He proposes a model adapted to Swiss conditions and parameterized with estimated Swiss earnings dynamics.