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Housing and Saving in Retirement Across Countries

  • Makoto Nakajima
  • Irina A. Telyukova
Part of the International Economic Association Series book series (IEA)

Abstract

In the United States, households have, on average, significant positive wealth late in life. In the Health and Retirement Study, median net worth of a household at age 90 was about $75,000 in 2006. The large literature on the subject, sometimes referred to as the retirement saving puzzle, has studied a number of possible explanations for why retirees do not spend down wealth quickly, which have included longevity risk, bequest motives, precautionary motives and medical expense risk, and public care aversion.

Keywords

Mortgage Market Home Equity Housing Wealth Social Security Administration Bequest Motive 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Makoto Nakajima and Irina A. Telyukova 2016

Authors and Affiliations

  • Makoto Nakajima
    • 1
  • Irina A. Telyukova
    • 2
  1. 1.Federal Reserve Bank of PhiladelphiaUSA
  2. 2.University of CaliforniaSan DiegoUSA

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