| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4569 |
| 来源ID | Working Paper 4569 |
| Dissaving by the Elderly, Transfer Motives and Liquidity Constraints | |
| Albert Ando; Luigi Guiso; Daniele Terlizzese | |
| 发表日期 | 1993-12-01 |
| 出版年 | 1993 |
| 语种 | 英语 |
| 摘要 | Two explanations have been proposed for the observed slowness of wealth decumulation by the elderly in the literature: the precautionary saving induced by (uninsurable) uncertainty about the time of death or by the possibility of major catastrophes in old age that require large outlays; the desire to pass part of the accumulated assets on to one's heirs. We reconsider the issue of wealth decumulation by the elderly and assess the presence of a transfer motive, drawing on Italian data. We show that if intergenerational transfer of assets takes place well before the time of death, induced for instance by existence of liquidity constraints on younger families, then tests for the presence of a transfer motive based on the relative speed of decumulation of elderly households with and without a potential bequest motive might have little discriminatory power. We suggest that in this case one should look at the whole pattern of asset accumulation and decumulation. We also offer an alternative test of the bequest motive based on life insurance purchases. |
| 主题 | Microeconomics ; Households and Firms ; Macroeconomics ; Consumption and Investment |
| URL | https://www.nber.org/papers/w4569 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561951 |
| 推荐引用方式 GB/T 7714 | Albert Ando,Luigi Guiso,Daniele Terlizzese. Dissaving by the Elderly, Transfer Motives and Liquidity Constraints. 1993. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w4569.pdf（2601KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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