| 来源类型 | Working Paper
|
| 规范类型 | 报告
|
| DOI | 10.3386/w28810
|
| 来源ID | Working Paper 28810
|
| Were Small\u2013Town New Yorkers Life\u2013Cycle Savers? |
| Howard Bodenhorn
|
| 发表日期 | 2021-05-17
|
| 出版年 | 2021
|
| 语种 | 英语
|
| 摘要 | Theories of household saving, including the life cycle hypothesis, posit that households add or draw down wealth to equalize the value of consumption over time. This article examines the extent to which late–nineteenth–century, small–town Americans accumulated financial assets consistent with the life cycle hypothesis. Using individual account records from a small–town savings banks, I find that savers accumulated an average of one year’s income at age sixty. Decumulation was slower than expected after age sixty. The evidence is inconsistent with a strong bequest motive, so the slow drawing down of wealth in old age may have been due to uncertain mortality risk or wealth–based attrition from the sample. I find differences in the life cycle accumulations between men and women, the native– and foreign–born, and low–skill and high–skill workers. |
| 主题 | History
; Financial History
|
| URL | https://www.nber.org/papers/w28810
|
| 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/586482
|
推荐引用方式
GB/T 7714 |
Howard Bodenhorn. Were Small\u2013Town New Yorkers Life\u2013Cycle Savers?. 2021.
|
|
文件名：
|
w28810.pdf
|
|
格式：
|
Adobe PDF
|
此文件暂不支持浏览
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
