Life Cycle Saving and Dissaving Revisited across Three-tiered Income Groups

Detalhes bibliográficos
Autor(a) principal: Holzmann, Robert
Data de Publicação: 2019
Outros Autores: Ayuso, Mercedes, Alaminos, Estefanía, Bravo, Jorge Miguel
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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spelling 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
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dc.format.none.fl_str_mv 32
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dc.publisher.none.fl_str_mv IZA. Institute of Labor Economics
publisher.none.fl_str_mv IZA. Institute of Labor Economics
dc.source.none.fl_str_mv 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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