全球智库信息集成服务系统(G2TT): A Cross-Country Comparison of Old Age Financial Readiness in Asian Countries vs. the United States: The Case of Japan and the Republic of Korea

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w29649
来源ID	Working Paper 29649
	A Cross-Country Comparison of Old Age Financial Readiness in Asian Countries vs. the United States: The Case of Japan and the Republic of Korea
	Isaac Ehrlich; Yong Yin
发表日期	2022-01-17
出版年	2022
语种	英语
摘要	We pursue a cross-country comparison of relative financial readiness of older households in Japan and the Republic of Korea relative to the US. Our comparative analysis, using macro-level and harmonized longitudinal household financial data, covers the principal financial channels of old age support: public and private pension plans, family support, and self-management of private financial portfolios. We find that while all three countries have similar public pension systems, older Americans benefit from more developed and better-funded public and private pension systems, as well as individual management of risky financial portfolios. We find that educational and health attainments of household heads and household wealth lead to a greater tendency to hold and manage risky assets. Our decomposition analysis also shows that the gap in stock ownership in Asian countries relative to the US is attributable to lower development levels of financial and pension markets. However, these gaps are shrinking more recently.
主题	Financial Economics ; Portfolio Selection and Asset Pricing ; Corporate Finance
URL	https://www.nber.org/papers/w29649
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/587323
推荐引用方式 GB/T 7714	Isaac Ehrlich,Yong Yin. A Cross-Country Comparison of Old Age Financial Readiness in Asian Countries vs. the United States: The Case of Japan and the Republic of Korea. 2022.

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
w29649.pdf（539KB）	智库出版物		限制开放	CC BY-NC-SA	浏览