Accounting for the Heterogeneity in Retirement Wealth

Fang Yang

Discussion Papers from University at Albany, SUNY, Department of Economics

Abstract: 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 earnings hold very different amounts of wealth at retirement. Earnings heterogeneity and borrowing constraints are essential in generating the variation in wealth at retirement among low lifetime earnings households, while inheritance heterogeneity helps to generate the heterogeneity in wealth at retirement among high lifetime earnings households.

Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.albany.edu/economics/research/workingp/2008/retirementWealth9.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.albany.edu/economics/research/workingp/2008/retirementWealth9.pdf [301 Moved Permanently]--> https://www.albany.edu/economics/research/workingp/2008/retirementWealth9.pdf)

Related works:
Working Paper: Accounting for the Heterogeneity in Retirement Wealth (2009)
Working Paper: Accounting for the Heterogeneity in Retirement Wealth (2006)
Working Paper: Accounting for the heterogeneity in retirement wealth (2005)
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:nya:albaec:08-01

Ordering information: This working paper can be ordered from
Department of Economics, Building 25, Room 103 University at Albany State University of New York Albany, NY 12222 U.S.A.
http://www.albany.ed ... workingp/index.shtml

Access Statistics for this paper

More papers in Discussion Papers from University at Albany, SUNY, Department of Economics Department of Economics, Building 25, Room 103 University at Albany State University of New York Albany, NY 12222 U.S.A..
Bibliographic data for series maintained by Byoung Park ().