Life Expectancy and Old Age Savings
AbstractRich people, women, and healthy people live longer. We document that this heterogeneity in life expectancy is large. We use an estimated structural model to assess the impact of life expectancy variation on the elderlyâs savings. We find that the differences in life expectancy related to observable factors such as health, gender, and income have large effects on savings, and that these factors contribute by similar amounts. We also show that the risk of outliving oneâs expected lifespan has a large effect on the elderlyâs saving behavior.
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Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Review.
Volume (Year): 99 (2009)
Issue (Month): 2 (May)
Other versions of this item:
- Mariacristina De Nardi & Eric French & John Bailey Jones, 2009. "Life Expectancy and Old Age Savings," NBER Working Papers 14653, National Bureau of Economic Research, Inc.
- Mariacristina De Nardi & Eric French & John Bailey Jones, 2009. "Life expectancy and old age savings," Working Paper Series WP-08-18, Federal Reserve Bank of Chicago.
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
- I12 - Health, Education, and Welfare - - Health - - - Health Production
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Explaining heterogeneity in individual saving rates
by Economic Logician in Economic Logic on 2009-01-24 02:38:00
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