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Household Saving in the '90s: Evidence from Cross-Section Wealth Surveys

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  • Sabelhaus, John
  • Pence, Karen
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    Abstract

    This paper uses a series of cross-section surveys to measure how wealth accumulation and active saving rates varied across cohort-groups during the early and mid 1990s. Our estimated rates of saving and wealth change across cohorts show a somewhat more dramatic life-cycle pattern than found in previous studies, in part because we use a new technique, and in part because the cross-section wealth surveys we use oversample the wealthiest families whose behavior dominates aggregate changes. Adjusting the wealth-change rates for bequests and subtracting out the capital gains component of wealth change move the estimates in the direction of results from previous studies, but the biggest changes in that direction result from excluding the top of the wealth distribution in each year. Copyright 1999 by The International Association for Research in Income and Wealth.

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    Bibliographic Info

    Article provided by International Association for Research in Income and Wealth in its journal Review of Income & Wealth.

    Volume (Year): 45 (1999)
    Issue (Month): 4 (December)
    Pages: 435-53

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    Handle: RePEc:bla:revinw:v:45:y:1999:i:4:p:435-53

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    Cited by:
    1. Vincent Hildebrand, 2001. "Wealth Accumulation of US Households: What Do We Learn from the SIPP Data?," Social and Economic Dimensions of an Aging Population Research Papers, McMaster University 41, McMaster University.
    2. Hans Fehr & Sabine Jokisch, 2006. "Demographischer Wandel und internationale Finanzmärkte," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, Verein für Socialpolitik, vol. 7(4), pages 501-517, November.
    3. James Poterba, 2004. "The Impact of Population Aging on Financial Markets," NBER Working Papers 10851, National Bureau of Economic Research, Inc.
    4. Olesya Baker & Phil Doctor & Eric French, 2007. "Asset rundown after retirement: the importance of rate of return shocks," Economic Perspectives, Federal Reserve Bank of Chicago, Federal Reserve Bank of Chicago, issue Q II, pages 48-65.

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