A Cohort Analysis of Wealth-Age Profiles: Lessons from Psid

Joonwoo Nahm and Robert Schoeni
Additional contact information
Joonwoo Nahm: Sogang University

Korean Economic Review, 2010, vol. 26, 59-78

Abstract: Given the importance of the shape of the wealth-age profile according to the life cycle model, and the fact that the theory does not imply a specific functional form, we argue that a non-parametric estimation strategy is ideal. Nonparametric profiles and semiparametric partial linear models indicate that typical parametric representations can be misleading. Moreover, we find that there are strong and clear patterns of wealth accumulation through the mid-50s, flat wealth holdings during the late 50s and mid-60s, followed by decumulation during the rest of the life cycle, which is consistent with predictions of the life cycle model.

Keywords: cohort analysis; partial linear model; wealth accumulation (search for similar items in EconPapers)
JEL-codes: C1 J1 (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://keapaper.kea.ne.kr/RePEc/kea/keappr/KER-20100630-26-1-03.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kea:keappr:ker-20100630-26-1-03

Access Statistics for this article

Korean Economic Review is currently edited by Kyung Hwan Baik

More articles in Korean Economic Review from Korean Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by KEA ().