Mortality Decline, Impatience and Aggregate Wealth Accumulation with Risk-Sensitive Preferences

Antoine Bommier

No 14/194, CER-ETH Economics working paper series from CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich

Abstract: The paper discusses the impact of longevity extension on aggregate wealth accumulation, accounting for changes in individual behaviors as well as changes in population age structure. It departs from the stan- dard literature by adopting risk-sensitive preferences. Human impatience is then closely related to mortality rates and aggregate wealth accumula- tion appears to be much more sensitive to demographic factors than usually found. Illustrations are provided using historical mortality data from dif- ferent countries.

Keywords: longevity; life-cycle savings; wealth accumulation; risk-sensitive pref- erences; risk aversion. (search for similar items in EconPapers)
JEL-codes: D91 E21 J1 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2014-04
New Economics Papers: this item is included in nep-age, nep-hea, nep-his and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Working Paper: Mortality Decline, Impatience and Aggregate Wealth Accumulation with Risk-Sensitive Preferences
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