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Housing wealth, bequests, risk aversion, and the elderly

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  • Greenhalgh-Stanley, Nadia
  • Reynolds, C․Lockwood

Abstract

We find plausibly exogenous wealth shocks lead to an increase in the expected likelihood of leaving a large bequest for elderly households with lower baseline wealth, health, and risk aversion, and in increased likelihood of estate planning.

Suggested Citation

  • Greenhalgh-Stanley, Nadia & Reynolds, C․Lockwood, 2025. "Housing wealth, bequests, risk aversion, and the elderly," Economics Letters, Elsevier, vol. 251(C).
    • Handle: RePEc:eee:ecolet:v:251:y:2025:i:c:s0165176525001806
    DOI: 10.1016/j.econlet.2025.112343
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    References listed on IDEAS

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    More about this item

    Keywords

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    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General

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