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Do the Elderly Reduce Housing Equity? An International Comparison

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  • Maria Chiuri

    ()

  • Tullio Jappelli

    ()

Abstract

We explore the shape of the elderly homeownership rate using a collection of microeconomic surveys of 17 OECD countries. In most, the survey is repeated over time. This allows us to construct an international dataset of repeated cross-sectional data, merging 59 national household surveys on about 300,000 individuals. We find that ownership rates decline considerably after age 60 in most countries. However, a large part of the decline should be attributed to cohort effects. After adjusting for such effects, we find that ownership rates fall after age 70 at a rate of about half a percentage point per year. Interestingly, ownership trajectories are quite similar across countries with the exceptions of Finland and Canada - and unrelated to a wide set of indicators that we examine.

Suggested Citation

  • Maria Chiuri & Tullio Jappelli, 2006. "Do the Elderly Reduce Housing Equity? An International Comparison," LIS Working papers 436, LIS Cross-National Data Center in Luxembourg.
  • Handle: RePEc:lis:liswps:436
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    Cited by:

    1. Timothy Smeeding & Eva Sierminska & Andrea Brandolini, 2006. "Cross National Comparison of Income and Wealth Status in Retirement: First Results from the Luxembourg Wealth Study (LWS)," LWS Working papers 2, LIS Cross-National Data Center in Luxembourg.

    More about this item

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis

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