Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | https://www.iza.org/publications/dp/12655/life-cycle-saving-and-dissaving-revisited-across-three-tiered-income-groups-starting-hypotheses-refinement-through-literature-review-and-ideas-for-empirical-testing |
Resumo: | Holzmann, R., Ayuso, M., Alaminos, E., & Bravo, J. M. (2019). Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups: Starting hypotheses, refinement through literature review, and ideas for empirical testing . (pp. 1-32). (Discussion paper series; No. 12655). IZA. Institute of Labor Economics. |
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Life Cycle Saving and Dissaving Revisited across Three-tiered Income GroupsStarting hypotheses, refinement through literature review, and ideas for empirical testingIntertemporal Household ChoiceLife Cycle Models and SavingHousehold Behavior and Family EconomicsHousehold SavingPersonal FinanceHolzmann, R., Ayuso, M., Alaminos, E., & Bravo, J. M. (2019). Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups: Starting hypotheses, refinement through literature review, and ideas for empirical testing . (pp. 1-32). (Discussion paper series; No. 12655). IZA. Institute of Labor Economics.The lifecycle approach is the workhorse to model saving decisions of individuals. It conjectures individuals preferring a constant consumption stream across their lifecycle saving till retirement and dis-saving thereafter. The reality is often at odd with this assumption giving rise to our conjectured three-tier life-cycle model by income groups. The low-income tier does little saving and in consequence little dissaving; the high-income tier does save during active life and profits often from bequests, but no dissaving is taking place unless hit by a major shock; only the middle tier behaves broadly as predicted. The drivers for such a differentiated behavior are conjectured to be threefold: External settings such as a multitude of shocks; preferences deviations such a behavioral bias, and institutional settings and interventions, such as minimum income provisions. The paper outlines these corresponding hypotheses, presents some first conceptual and empirical support, and reviews the international literature on the conjectured drivers. The review of international literature does not shatter our conjecture of a broadly three-tiered and reframed applicability of the life cycle model but offers some first precisions and wrinkles. The paper proposes next conceptual and empirical steps, including enriching existing wealth distribution estimates at retirement with sound estimates of social insurance wealth (pension and health), focused hypothesis testing of the key drivers with household panel data, and formulating policy responses if the new hypotheses are not rejected.IZA. Institute of Labor EconomicsNOVA Information Management School (NOVA IMS)Information Management Research Center (MagIC) - NOVA Information Management SchoolRUNHolzmann, RobertAyuso, MercedesAlaminos, EstefaníaBravo, Jorge Miguel2019-10-15T23:29:24Z2019-092019-09-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article32application/pdfhttps://www.iza.org/publications/dp/12655/life-cycle-saving-and-dissaving-revisited-across-three-tiered-income-groups-starting-hypotheses-refinement-through-literature-review-and-ideas-for-empirical-testingeng2365-9793PURE: 15022746https://www.iza.org/publications/dp/12655/life-cycle-saving-and-dissaving-revisited-across-three-tiered-income-groups-starting-hypotheses-refinement-through-literature-review-and-ideas-for-empirical-testinginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:37:39Zoai:run.unl.pt:10362/84438Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:36:29.340051Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups Starting hypotheses, refinement through literature review, and ideas for empirical testing |
title |
Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups |
spellingShingle |
Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups Holzmann, Robert Intertemporal Household Choice Life Cycle Models and Saving Household Behavior and Family Economics Household Saving Personal Finance |
title_short |
Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups |
title_full |
Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups |
title_fullStr |
Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups |
title_full_unstemmed |
Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups |
title_sort |
Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups |
author |
Holzmann, Robert |
author_facet |
Holzmann, Robert Ayuso, Mercedes Alaminos, Estefanía Bravo, Jorge Miguel |
author_role |
author |
author2 |
Ayuso, Mercedes Alaminos, Estefanía Bravo, Jorge Miguel |
author2_role |
author author author |
dc.contributor.none.fl_str_mv |
NOVA Information Management School (NOVA IMS) Information Management Research Center (MagIC) - NOVA Information Management School RUN |
dc.contributor.author.fl_str_mv |
Holzmann, Robert Ayuso, Mercedes Alaminos, Estefanía Bravo, Jorge Miguel |
dc.subject.por.fl_str_mv |
Intertemporal Household Choice Life Cycle Models and Saving Household Behavior and Family Economics Household Saving Personal Finance |
topic |
Intertemporal Household Choice Life Cycle Models and Saving Household Behavior and Family Economics Household Saving Personal Finance |
description |
Holzmann, R., Ayuso, M., Alaminos, E., & Bravo, J. M. (2019). Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups: Starting hypotheses, refinement through literature review, and ideas for empirical testing . (pp. 1-32). (Discussion paper series; No. 12655). IZA. Institute of Labor Economics. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-10-15T23:29:24Z 2019-09 2019-09-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://www.iza.org/publications/dp/12655/life-cycle-saving-and-dissaving-revisited-across-three-tiered-income-groups-starting-hypotheses-refinement-through-literature-review-and-ideas-for-empirical-testing |
url |
https://www.iza.org/publications/dp/12655/life-cycle-saving-and-dissaving-revisited-across-three-tiered-income-groups-starting-hypotheses-refinement-through-literature-review-and-ideas-for-empirical-testing |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
2365-9793 PURE: 15022746 https://www.iza.org/publications/dp/12655/life-cycle-saving-and-dissaving-revisited-across-three-tiered-income-groups-starting-hypotheses-refinement-through-literature-review-and-ideas-for-empirical-testing |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
32 application/pdf |
dc.publisher.none.fl_str_mv |
IZA. Institute of Labor Economics |
publisher.none.fl_str_mv |
IZA. Institute of Labor Economics |
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reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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