2005, English, Article, Working paper edition: Accounting for the heterogeneity in retirement wealth [electronic resource] / Fang Yang. Yang, Fang.

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Bookmark: http://trove.nla.gov.au/version/23405469
Published
  • [Minneapolis, MN] : Federal Reserve Bank of Minneapolis, Research Dept., [2005]
Language
  • English

Edition details

Title
  • Accounting for the heterogeneity in retirement wealth /​ Fang Yang.
Author
  • Yang, Fang.
Other Authors
  • Federal Reserve Bank of Minneapolis. Research Dept.
Published
  • [Minneapolis, MN] : Federal Reserve Bank of Minneapolis, Research Dept., [2005]
Medium
  • [electronic resource]
Series
Subjects
Summary
  • This paper studies a quantitative dynamic general equilibrium life-cycle model where parents and their children are linked by bequests, both voluntary and accidental, and by the transmission of earnings ability. This model is able to match very well the empirical observation that households with similar lifetime incomes hold very different amounts of wealth at retirement. Income heterogeneity and borrowing constraints are essential in generating the variation in retirement wealth among low lifetime income households, while the existence of intergenerational links is crucial in explaining the heterogeneity in retirement wealth among high lifetime income households.
Notes
  • Title from PDF file (viewed on Sept. 27, 2005).
  • "September 2005."
  • Includes bibliographical references.
  • Also available in print.
Technical Details
  • System requirements: Adobe Acrobat Reader.
  • Mode of access: World Wide Web.
Language
  • English
Libraries Australia ID
Contributed by
Libraries Australia

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