欧洲退休老人的财富是否会减少？遗赠动机、预防性储蓄、公共养老金和房屋所有权的重要性.pdf

《欧洲退休老人的财富是否会减少？遗赠动机、预防性储蓄、公共养老金和房屋所有权的重要性.pdf》由会员分享，可在线阅读，更多相关《欧洲退休老人的财富是否会减少？遗赠动机、预防性储蓄、公共养老金和房屋所有权的重要性.pdf（38页珍藏版）》请在三个皮匠报告上搜索。

1、Do the Retired Elderly in Europe Decumulate Their Wealth?The Importance of Bequest Motives,Precautionary Saving,Public Pensions,and HomeownershipCenter for Computational Social Science and Research Institute for Economics and Business Administration,Kobe University;Institute of Social and Economic R

2、esearch,Osaka University;Asian Growth Research Institute;and National Bureau of Economic ResearchLuigi VenturaSapienza University of RomePrepared for presentation at the Ninth International Pension Research Association(IPRA)Conference to be held at the OECD in Paris,France,on June 12,2024Do the Reti

3、red Elderly Decumulate Wealth?A European Perspective.Pagina 1IPRA Conference 2024,Paris.INTRODUCTION2Do the Retired Elderly Decumulate Wealth?A European Perspective.IPRA Conference 2024,Paris.Background:Two Puzzles concerning the Consumption and Saving Behavior of the Elderly(1)“The Retirement Consu

4、mption Puzzle”Why does consumption decline sharply after retirement?2)“The Wealth Decumulation Puzzle”Why do the retired elderly decumulate their wealth more slowly than expected?3Do the Retired Elderly Decumulate Wealth?A European Perspective.IPRA Conference 2024,Paris.Background:“Wealth Decumulati

5、on Puzzle”Previous studies for many countries find that the retired elderly decumulate their wealth but that their rate of wealth decumulation is much slower than predicted by the simple life cycle model with no longevity risk and no bequest motives.It is important to understand the saving behavior

6、of the elderly because they hold a substantial share of household wealth.For example,in OECD,households with a head who is 55 or older feature a median wealth which is over 50%higher than that held by households headed by middle aged individuals.4Do the Retired Elderly Decumulate Wealth?A European P