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Housing and Saving in Retirement Across Countries

In: Contemporary Issues in Microeconomics

Author

Listed:
  • Makoto Nakajima

    (Federal Reserve Bank of Philadelphia)

  • Irina A. Telyukova

    (University of California)

Abstract

In the United States, households have, on average, significant positive wealth late in life. In the Health and Retirement Study, median net worth of a household at age 90 was about $75,000 in 2006. The large literature on the subject, sometimes referred to as the retirement saving puzzle, has studied a number of possible explanations for why retirees do not spend down wealth quickly, which have included longevity risk, bequest motives, precautionary motives and medical expense risk, and public care aversion.

Suggested Citation

  • Makoto Nakajima & Irina A. Telyukova, 2016. "Housing and Saving in Retirement Across Countries," International Economic Association Series, in: Joseph E. Stiglitz & Martin Guzman (ed.), Contemporary Issues in Microeconomics, chapter 5, pages 88-126, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-137-52971-8_6
    DOI: 10.1057/9781137529718_6
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    Cited by:

    1. Makoto Nakajima & Irina A. Telyukova, 2020. "Home Equity In Retirement," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(2), pages 573-616, May.
    2. Eric French & John Bailey Jones & Elaine Kelly & Jeremy McCauley, 2018. "End-of-Life Medical Expenses," Working Paper 18-18, Federal Reserve Bank of Richmond.
    3. Holzmann, Robert & Ayuso, Mercedes & Alaminos, Estefanía & Bravo, Jorge Miguel, 2019. "Life Cycle Saving and Dissaving Revisited across Three-Tiered Income Groups: Starting Hypotheses, Refinement through Literature Review, and Ideas for Empirical Testing," IZA Discussion Papers 12655, Institute of Labor Economics (IZA).

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