Differential Mortality And Wealth Accumulation
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Differential Mortality And Wealth Accumulation
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Author : Orazio P. Attanasio
language : en
Publisher:
Release Date : 1995
Differential Mortality And Wealth Accumulation written by Orazio P. Attanasio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Inheritance and succession categories.
The issue of asset accumulation and decumulation is central to the life cycle theory of consumer behavior and to many policy questions. One of the main implications of the life cycle model is that assets are decumulated in the last part of life. Most empirical studies in this area use cross-sectional data of estimate mean or median wealth-age profiles. The use of cross-sections to estimate the age profile of assets is full of pitfalls. For example, if wealth and mortality are related, in that poorer individuals die younger, one overestimates the last part of the wealth-age profile when using cross-sectional data because means (or other measures of location) are taken over a population which becomes 'richer' as it ages. This paper examines the effect of differential mortality on cross-sectional estimates of wealth-age profiles. Our approach is to quantify the dependence of mortality rates on wealth and use these estimates to 'correct' wealth-age profiles for sample selection due to differential mortality. We estimate mortality rates as a function of wealth and age for a sample of married couples drawn from the Survey of Income and Program Participation (SIPP). Our results show that accounting for differential mortality produces wealth profiles with significantly more dissaving among the elderly.
Differential Mortality And The Value Of Individual Account Retirement Annuities
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Author : Jeffrey R. Brown
language : en
Publisher:
Release Date : 2000
Differential Mortality And The Value Of Individual Account Retirement Annuities written by Jeffrey R. Brown and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Annuities categories.
This paper examines the extent of redistribution that would occur under various annuity and bequest options as part of an individual accounts retirement program. I first estimate mortality differentials by gender, race, ethnicity and level of education using the National Longitudinal Mortality Study and document substantial differences. I then use these estimates to examine the expected transfers' that would take place between socioeconomic groups under different assumptions about the structure of an annuity program. Using an expected present discounted value or money's worth' calculation as the basis for comparison, I find that the size of transfers in an individual accounts program is highly sensitive to the benefit structure. For example, mandating a single-life, real annuity can result in expected transfers of as high as 20% of the account balance, often from economically disadvantaged groups toward groups that are better off. These transfers can be substantially reduced through the use of joint life annuities, survivor provisions and bequest options. For example, the largest expected negative transfer under a joint and full survivor annuity with a fully valued 20-year guarantee option is only 2% of the account balance. However, efforts to reduce the extent of redistribution generally do so at the cost of significantly lower annuity benefits paid to the individuals who contribute to the system.
The Measurement Of Saving Investment And Wealth
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Author : Robert E. Lipsey
language : en
Publisher: University of Chicago Press
Release Date : 2008-04-15
The Measurement Of Saving Investment And Wealth written by Robert E. Lipsey 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 2008-04-15 with Business & Economics categories.
There is probably no concept other than saving for which U.S. official agencies issue annual estimates that differ by more than a third, as they have done for net household saving, or for which reputable scholars claim that the correct measure is close to ten times the officially published one. Yet despite agreement among economists and policymakers on the importance of this measure, huge inconsistencies persist. Contributors to this volume investigate ways to improve aggregate and sectoral saving and investment estimates and analyze microdata from recent household wealth surveys. They provide analyses of National Income and Product Account (NIPA) and Flow-of-Funds measures and of saving and survey-based wealth estimates. Conceptual and methodological questions are discussed regarding long-term trends in the U.S. wealth inequality, age-wealth profiles, pensions and wealth distribution, and biases in inferences about life-cycle changes in saving and wealth. Some new assessments are offered for investment in human and nonhuman capital, the government contribution to national wealth, NIPA personal and corporate saving, and banking imputation.
The Economics Of Aging
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Author : David A. Wise
language : en
Publisher: University of Chicago Press
Release Date : 2009-05-15
The Economics Of Aging written by David A. Wise 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 2009-05-15 with Political Science categories.
The Economics of Aging presents results from an ongoing National Bureau of Economic Research project. Contributors consider the housing mobility and living arrangements of the elderly, their labor force participation and retirement, the economics of their health care, and their financial status. The goal of the research is to further our understanding both of the factors that determine the well-being of the elderly and of the consequences that follow from an increasingly older population with longer individual life spans. Each paper is accompanied by critical commentary.
Perspectives On The Economics Of Aging
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Author : David A. Wise
language : en
Publisher: University of Chicago Press
Release Date : 2007-11-01
Perspectives On The Economics Of Aging written by David A. Wise 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 2007-11-01 with Business & Economics categories.
This book investigates several important issues in the economics of aging, including the accumulation of wealth and the relationship between health and financial prosperity. Examining the changes in savings behavior and investment priorities in the United States over the past few decades, contributors to the volume point to a dramatic shift from employer-managed, defined benefit pensions to employee-controlled retirement savings plans. Further, the legislative reforms of the 1980s and the booming stock market of the 1990s did their share to influence individual wealth accumulation patterns of Americans. These studies also explore the relationship between health status and economic status. Considering issues like pension income and health, mortality, and medical care, contributors present evidence from the United States, Britain, South Africa, and Russia. The volume culminates with wide-ranging discussions on a number of key topics in the field including the innovations that have contributed to a decline in mortality rates; the various medical advances that have benefited populations over time; and the determinants of expenditures on health. The findings with regard to cross-sectional differences in health outcomes and health care utilization also pose troubling questions for policymakers seeking to democratize health care across regions and races.
Demographic Research Volume 17 Book I
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Author : Demographic Research
language : en
Publisher: BoD – Books on Demand
Release Date : 2008
Demographic Research Volume 17 Book I written by Demographic Research and has been published by BoD – Books on Demand this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Handbook Of Income Distribution
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Author : Anthony B. Atkinson
language : en
Publisher: Elsevier
Release Date : 2014-12-30
Handbook Of Income Distribution written by Anthony B. Atkinson and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-30 with Social Science categories.
What new theories, evidence, explanations, and policies have shaped our studies of income distribution in the 21st century? Editors Tony Atkinson and Francois Bourguignon assemble the expertise of leading authorities in this survey of substantive issues. In two volumes they address subjects that were not covered in Volume 1 (2000), such as education, health and experimental economics; and subjects that were covered but where there have been substantial new developments, such as the historical study of income inequality and globalization. Some chapters discuss future growth areas, such as inheritance, the links between inequality and macro-economics and finance, and the distributional implications of climate change. They also update empirical advances and major changes in the policy environment. The volumes define and organize key areas of income distribution studies Contributors focus on identifying newly developing questions and opportunities for future research The authoritative articles emphasize the ways that income mobility and inequality studies have recently gained greater political significance
United States And Africa Relations 1400s To The Present
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Author : Toyin Falola
language : en
Publisher: Yale University Press
Release Date : 2020-09-01
United States And Africa Relations 1400s To The Present written by Toyin Falola and has been published by Yale University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-01 with History categories.
A comprehensive history of the relationship between Africa and the United States Toyin Falola and Raphael Njoku reexamine the history of the relationship between Africa and the United States from the dawn of the trans-Atlantic slave trade to the present. Their broad, interdisciplinary book follows the relationship’s evolution, tracking African American emancipation, the rise of African diasporas in the Americas, the Back-to-Africa movement, the founding of Sierra Leone and Liberia, the presence of American missionaries in Africa, the development of blues and jazz music, the presidency of Barack Obama, and more.
Wealth
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Author : Yuval Elmelech
language : en
Publisher: John Wiley & Sons
Release Date : 2020-12-03
Wealth written by Yuval Elmelech and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-03 with Social Science categories.
The pursuit of wealth has captivated people’s attention for centuries. Yet, as a topic of social research, the way in which wealth is accumulated and unequally distributed has largely been neglected, remaining hidden beneath data on income inequality. Wealth aims to address this blind spot in the academic discourse. In accessible prose, Yuval Elmelech explains how personal wealth differs fundamentally from other conventional measures of socioeconomic status and why it has become increasingly important to our understanding of social mobility and stratification. Crucially, Elmelech presents a dynamic sociological framework of wealth attainment that illuminates the effects of cumulative advantages and disadvantages over the course of an individual’s life, and across generations. He describes how these advantages and disadvantages are in turn shaped by a complex interplay of multiple markets, changing demographic landscapes, and persistent inter-group wealth disparities. Blending theoretical approaches with empirical evidence and macro-level contexts with micro-level processes, this book is an astute guide for thinking about wealth as a key determinant of social and economic wellbeing and for interrogating the role of wealth accumulation in social inequality.
Research Handbook On Intergenerational Inequality
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Author : Elina Kilpi-Jakonen
language : en
Publisher: Edward Elgar Publishing
Release Date : 2024-05-02
Research Handbook On Intergenerational Inequality written by Elina Kilpi-Jakonen and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-02 with Social Science categories.
The Research Handbook on Intergenerational Inequality is motivated by a core question in social science: to what extent does one’s family background and childhood experience predict success in life? Bringing together experts in their respective fields from across the globe, this innovative Research Handbook provides a comprehensive multidisciplinary account of the rich research on intergenerational inequality, focusing on its origins in sociology and economics. This title contains one or more Open Access chapters.