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The Impact on Residential Choice of the Family Home Exemption in Resource-Tested Transfer Programs

  • John Piggott

    ()

    (ARC Centre of Excellence in Population Ageing Research, Australian School of Business, University of New South Wales)

  • Renuka Sane

    ()

    (Indira Gandhi Institute of Development Research)

Many countries have policies offering transfers or other entitlements, subject to a resources test. In most cases, these exempt the family home. While the impacts of means-tested programs on saving and labor supply have been extensively studied, exempting the owner-occupier home has escaped analytic attention. We assess the exemption of the owner-occupied home from the Australian age-pension on residential mobility and housing trade-downs. Results suggest that this provision discourages trade-down behaviour.

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File URL: http://cepar.edu.au/media/48649/Impact%20on%20Residential%20Choice%20of%20the%20Family%20Home.pdf
File Function: First version, 2011
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Paper provided by ARC Centre of Excellence in Population Ageing Research (CEPAR), Australian School of Business, University of New South Wales in its series Working Papers with number 201112.

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Length: 9 pages
Date of creation: Feb 2011
Date of revision:
Handle: RePEc:asb:wpaper:201112
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  1. R. Glenn Hubbard & Jonathan Skinner & Stephen P. Zeldes, 1994. "Precautionary Saving and Social Insurance," NBER Working Papers 4884, National Bureau of Economic Research, Inc.
  2. Jonathan Gruber & Aaron Yelowitz, 1997. "Public Health Insurance and Private Savings," UCLA Economics Working Papers 772, UCLA Department of Economics.
  3. Dr Justin van de Ven & Dr Martin Weale, 2006. "Means Testing Retirement Benefits: fostering equity or discouraging savings?," NIESR Discussion Papers 1389, National Institute of Economic and Social Research.
  4. David Neumark & Elizabeth Powers, 1998. "Welfare for the Elderly: The Effects of SSI on Pre-Retirement Labor Supply," NBER Working Papers 6805, National Bureau of Economic Research, Inc.
  5. Sang-Wook (Stanley) Cho & Renuka Sane, 2011. "Means-Tested Age Pension and Homeownership: Is There a Link?," Discussion Papers 2011-02, School of Economics, The University of New South Wales.
  6. Powers, Elizabeth T., 1998. "Does means-testing welfare discourage saving? evidence from a change in AFDC policy in the United States," Journal of Public Economics, Elsevier, vol. 68(1), pages 33-53, April.
  7. Neumark, David & Powers, Elizabeth, 1998. "The effect of means-tested income support for the elderly on pre-retirement saving: evidence from the SSI program in the U.S," Journal of Public Economics, Elsevier, vol. 68(2), pages 181-206, May.
  8. repec:nsr:niesrd:283 is not listed on IDEAS
  9. Ermisch, John F. & Jenkins, Stephen P., 1999. "Retirement and housing adjustment in later life: evidence from the British Household Panel Survey," Labour Economics, Elsevier, vol. 6(2), pages 311-333, June.
  10. James Sefton & Justin vandeVen & Martin Weale, 2008. "Means Testing Retirement Benefits: fostering equity or discouraging savings?," Economic Journal, Royal Economic Society, vol. 118(528), pages 556-590, 04.
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