A Cohort-Analysis of Age-Wealth Profile in Finland

Päivi Kankaanranta
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Päivi Kankaanranta: University of Turku

No 130, Discussion Papers from Aboa Centre for Economics

Abstract: In this paper, the relationship between age and household net worth isexamined. The empirical analysis is based on a time-series of four cross-sections of the Finnish household wealth survey. Two different schemesare employed to identify age, cohort and time effects. Time-of-birth isfound to be an important determinant of asset accumulation. Con-trary to the life-cycle model, net worth increases even after retirementage. The cohort effect is found to follow a concave pattern instead ofincreasing monotonously. However, the accumulation behaviour bothover the life-cycle and across cohorts varies considerably by education.

Keywords: wealth; life-cycle (search for similar items in EconPapers)
JEL-codes: D15 E21 (search for similar items in EconPapers)
Pages: 33
Date: 2019-12
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (2)

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