The Wealth Decumulation Behavior Of The Retired Elderly In Italy
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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.
Do The Retired Elderly In Europe Decumulate Their Wealth
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Author : Charles Horioka
language : en
Publisher:
Release Date : 2022
Do The Retired Elderly In Europe Decumulate Their Wealth written by Charles Horioka and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
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 retired elderly in Europe are decumulating their wealth and that the average wealth accumulation rate of the retired elderly in Europe is positive though relatively moderate (6.6% over a 3-year period). These findings strongly suggest that the Wealth Decumulation (or Retirement Saving) Puzzle (the tendency of the retired elderly to not decumulate their wealth or to decumulate their wealth more slowly than expected) applies in the case of Europe. Moreover, our regression results suggest that bequest motives, generous public pension systems, and the reluctance of retired elderly homeowners to sell or borrow against their owner-occupied housing are the primary explanations for the existence of the Wealth Decumulation Puzzle in Europe. Journal of Economic Literature classification numbers: D14, D15, D64, E21, H55, J14 Keywords: Aged, bequests, bequest intentions, bequest motives, dissaving, elderly, Europe, household saving, inheritances, intergenerational transfers, life cycle model or hypothesis, precautionary saving, retired elderly, Retirement Saving Puzzle, saving, SHARE, wealth accumulation, wealth decumulation, Wealth Decumulation Puzzle.
The Wealth Decumulation Behavior Of The Retired Elderly In Japan
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Author : Yoko Niimi
language : en
Publisher:
Release Date : 2018
The Wealth Decumulation Behavior Of The Retired Elderly In Japan written by Yoko Niimi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
This paper analyzes the determinants of the wealth decumulation behavior of the retired elderly in Japan using unique information from two household surveys, and by so doing, attempts to assess the relative importance of precautionary saving and bequest motives in explaining the lower than expected rates of wealth decumulation of the retired elderly. Taken together, our analyses of these two datasets show that precautionary saving plays a relatively important role in explaining the lower than expected wealth decumulation rate of the retired elderly, at least in the case of Japan, even though both precautionary saving and bequest motives are important drivers behind this puzzle. Our results also suggest the possibility that financial burden of parental care may also affect the wealth decumulation behavior of the retired elderly in Japan. Given that parental care responsibilities tend to arise relatively late in life, often after retirement, in the case of Japan, our results suggest that the financial burden of parental care may be a relevant issue when analyzing the wealth decumulation behavior of the elderly.
Saving And The Accumulation Of Wealth
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Author : Albert Ando
language : en
Publisher: Cambridge University Press
Release Date : 1994-03-25
Saving And The Accumulation Of Wealth written by Albert Ando 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 1994-03-25 with Business & Economics categories.
Taking Italy as their field of research, the contributors conduct a coherent analysis of households' saving behaviour.
Entrepreneurial Learning Evolutions In Startup Hubs
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Author : Nicola Capolupo
language : en
Publisher: Emerald Group Publishing
Release Date : 2023-04-27
Entrepreneurial Learning Evolutions In Startup Hubs written by Nicola Capolupo and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-04-27 with Business & Economics categories.
The analysis of Entrepreneurial Learning evolutions in startup hubs provides practical input to startup and incubator managers on the strategic drivers of change in training processes, investigating new trends of Entrepreneurial Learning in lean organizations.
International Business In The New Asia Pacific
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Author : Terry Wu
language : en
Publisher: Springer Nature
Release Date : 2022-01-01
International Business In The New Asia Pacific written by Terry Wu and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-01 with Business & Economics categories.
The Asia-Pacific region, sustaining more than four decades of rapid growth, has emerged as an economic force comparable in significance to Europe and North America. This book examines the economic, geopolitical, technological, demographic, and cultural forces that shape the international business strategies in the Asia-Pacific region. Specifically, it examines the seismic shifts in global business environment since the new century, and addresses emerging opportunities and threats in the Asia-Pacific region. This book offers new insights for international business in areas such as trade policy, supply chains, international investment, technological innovation, international marketing, digital economy, and human resources. The enclosed comprehensive and diverse analyses of the international business landscape in the New Asia are invaluable to scholars, managers, politicians, and policy makers alike. This book is engaging and informative. It presents a collection of diverse and cutting-edge topics that offer new insights into International Business activities in the Asia-Pacific region, raising questions for debate and opening pathways for future research. A must-read book for International Business scholars.— Hussain G. Rammal, University of Technology Sydney, Australia This book offers a comprehensive introduction to the general business environment in Asia. It highlights the complexities and dynamics of doing business in Asia and provides insightful understandings of emerging issues in the region. The chapter-by-chapter analyses of the region depict the rich thematic contexts in which key issues and challenges facing corporate executives as well scholars in international business. I believe that this book is valuable for students of international business, global business environment and regional studies. —Hongxin Zhao, Saint Louis University, USA
Explorations In The Economics Of Aging
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Author : David A. Wise
language : en
Publisher: University of Chicago Press
Release Date : 2011-04-15
Explorations In 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 2011-04-15 with Business & Economics categories.
The next two decades will mark a new phase in the demographic transition of the United States as baby boomers become eligible for Social Security and Medicare. Drawing on evidence from the United States and other nations, Explorations in the Economics of Aging yields important new findings on how economic decisions by households and policy choices by governments will influence the effects of this demographic shift. It explores topics such as the implications of differential mortality rates by income on Social Security, the link between cognition and economic outcomes, and scale variations in self-reported work disability. This volume will be an important reference for economists and policymakers alike.
Household Saving In Japan
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Author : Charles Yuji Horioka
language : en
Publisher:
Release Date : 1986
Household Saving In Japan written by Charles Yuji Horioka and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Education categories.
Issues In Pension Economics
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Author : Zvi Bodie
language : en
Publisher: University of Chicago Press
Release Date : 1987-03-01
Issues In Pension Economics written by Zvi Bodie 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 1987-03-01 with Business & Economics categories.
In the past several decades, pension plans have become one of the most significant institutional influences on labor and financial markets in the U.S. In an effort to understand the economic effects of this growth, the National Bureau of Economic Research embarked on a major research project in 1980. Issues in Pension Economics, the third in a series of four projected volumes to result from thsi study, covers a broad range of pension issues and utilizes new and richer data sources than have been previously available. The papers in this volume cover such issues as the interaction of pension-funding decisions and corporate finances; the role of pensions in providing adequate and secure retirement income, including the integration of pension plans with social security and significant drops in the U.S. saving rate; and the incentive effects of pension plans on labor market behavior and the implications of plans on labor market behavior and the implications of plans for different demographic groups. Issues in Pension Economics offers important empirical studies and makes valuable theoretical contributions to current thinking in an area that will most likely continue to be a source of controversy and debate for some time to come. The volume should prove useful to academics and policymakers, as well as to members of the business and labor communities.
Future Directions For The Demography Of Aging
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Author : National Academies of Sciences, Engineering, and Medicine
language : en
Publisher: National Academies Press
Release Date : 2018-07-21
Future Directions For The Demography Of Aging written by National Academies of Sciences, Engineering, and Medicine and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-21 with Social Science categories.
Almost 25 years have passed since the Demography of Aging (1994) was published by the National Research Council. Future Directions for the Demography of Aging is, in many ways, the successor to that original volume. The Division of Behavioral and Social Research at the National Institute on Aging (NIA) asked the National Academies of Sciences, Engineering, and Medicine to produce an authoritative guide to new directions in demography of aging. The papers published in this report were originally presented and discussed at a public workshop held in Washington, D.C., August 17-18, 2017. The workshop discussion made evident that major new advances had been made in the last two decades, but also that new trends and research directions have emerged that call for innovative conceptual, design, and measurement approaches. The report reviews these recent trends and also discusses future directions for research on a range of topics that are central to current research in the demography of aging. Looking back over the past two decades of demography of aging research shows remarkable advances in our understanding of the health and well-being of the older population. Equally exciting is that this report sets the stage for the next two decades of innovative researchâ€"a period of rapid growth in the older American population.