| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26986 |
| 来源ID | Working Paper 26986 |
| The Wealth Decumulation Behavior of the Retired Elderly in Italy: The Importance of Bequest Motives and Precautionary Saving | |
| Luigi Ventura; Charles Yuji Horioka | |
| 发表日期 | 2020-04-13 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | In this paper, we analyze the wealth accumulation and saving behavior of the retired elderly in Italy using micro data from the “Survey of Italian Households’ Income and Wealth,” a panel survey of households conducted every two years by the Bank of Italy. We find that, on average, the retired elderly in Italy are decumulating their wealth (dissaving) but that their wealth decumulation rates are much slower than expected. Moreover, we also find that more than 40 percent of the retired elderly in Italy are continuing to accumulate wealth and that more than 80 percent are doing positive amounts of saving. Thus, the Wealth Decumulation Puzzle (the tendency of the retired elderly to decumulate their wealth more slowly than expected) appears to apply in the case of Italy, as it does in most other countries, before as well as after the Global Financial Crisis. Moreover, our regression analysis of the determinants of the wealth accumulation and saving behavior of the retired elderly in Italy suggests that the lower than expected wealth decumulation rates and dissaving of the retired elderly in Italy is due largely to intergenerational transfers (bequests and inter vivos transfers) and saving for precautionary purposes, especially the former. |
| 主题 | Microeconomics ; Households and Firms ; Welfare and Collective Choice ; Macroeconomics ; Consumption and Investment ; Labor Economics ; Demography and Aging |
| URL | https://www.nber.org/papers/w26986 |
| 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/584658 |
| 推荐引用方式 GB/T 7714 | Luigi Ventura,Charles Yuji Horioka. The Wealth Decumulation Behavior of the Retired Elderly in Italy: The Importance of Bequest Motives and Precautionary Saving. 2020. |
| 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 | ||
| w26986.pdf（163KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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