| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5089 |
| 来源ID | Working Paper 5089 |
| The Annuitization of Americans' Resources: A Cohort Analysis | |
| Alan J. Auerbach; Jagadeesh Gokhale; Laurence J. Kotlikoff; John Sabelhaus; David N. Weil | |
| 发表日期 | 1995-04-01 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | This paper constructs a unique cohort data set to study the changes since 1960 in the share of Americans' resources that are annuitized. Understanding these changes is important because the larger this share, the more cohorts are likely to consume and the less they are likely to bequeath. Hence, the degree of annuitization affects national saving as well as the transmission of inequality over time. Our findings are striking. Although the annuitized share of resources of younger Americans declined slightly between 1960 and 1990, it increased dramatically for older Americans. It doubled for older men and quadrupled for older women. Since the elderly have much higher mortality probabilities than do the young, their degree of annuitization is much more important for aggregate bequests and saving. According to our estimates, aggregate U.S. bequests would now be 66 percent larger had the post-1960 increase in annuitization not occurred. In addition, U.S. national saving would likely be substantially larger than is currently the case. |
| 主题 | Macroeconomics ; Consumption and Investment |
| URL | https://www.nber.org/papers/w5089 |
| 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/562524 |
| 推荐引用方式 GB/T 7714 | Alan J. Auerbach,Jagadeesh Gokhale,Laurence J. Kotlikoff,et al. The Annuitization of Americans' Resources: A Cohort Analysis. 1995. |
| 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 | ||
| w5089.pdf（344KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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