Life-Cycle and Altruistic Theories of Saving with Lifetime Uncertainty
Bibliographic Data
| ID | 19313085 |
|---|---|
| Authors | Michael Kuehlwein (corresponding author) |
| Year | 1993 |
| Volume | 75 |
| Issue | 1 |
| Pages | 38 |
| Publication date | 1993-02-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Review of Economics and Statistics (JOURNAL) |
| Journal identifiers | ISSN: 0034-6535 • E-ISSN: 1530-9142 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2109624 |
| OpenAlex | W2031159159 |
| Language | EN |
| Citations received | 4 |
| References cited | 6 |
This paper examines testable implications of the life-cycle theory of saving with lifetime uncertainty. Theory sugges ts that persons facing lower mortality rates should exhibit greater consumption growth. Nonparametric tests, using the Retirement Histor y Survey, provide mixed support for the theory. A parameterized model allowing for altruism provides more support. Estimates of a bequest parameter indicate that elderly households value contributions to bequests as highly as contributions to their own consumption. This i s equally true for households with and without children. Such a beques t motive would curtail the impact of lifetime uncertainty on consumpti on growth. Copyright 1993 by MIT Press
Econometrics · Economics · Mathematical economics · Microeconomics · Financial Literacy, Pension, Retirement Analysis · Global Health Care Issues · Housing Market and Economics · Psychology
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Variable Lifespan and the Intertemporal Elasticity of Consumption
The Direct Measurement of Welfare Levels
Stochastic Consumption, Risk Aversion, and the Temporal Behavior of Asset Returns
| Citations per year | 0.18 |
|---|---|
| Citation span | 2004 - 2020 (17) |
| Highly cited | No |