A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Subjective mortality hazard shocks and the adjustment of consumption expenditures
Abstract I estimate the effect of shocks to subjective mortality hazards on consumption expenditures of retired individuals using the Survey of Health, Ageing and Retirement in Europe. I measure mortality expectations with survey responses on survival probabilities. To create plausibly exogenous variation in mortality hazard, I use the death of a sibling as an instrument. My results show that survey responses contain economically relevant information about longevity expectations and confirm the predictions of life-cycle theories about the effect of these expectations on intertemporal choice.
Subjective mortality hazard shocks and the adjustment of consumption expenditures
Abstract I estimate the effect of shocks to subjective mortality hazards on consumption expenditures of retired individuals using the Survey of Health, Ageing and Retirement in Europe. I measure mortality expectations with survey responses on survival probabilities. To create plausibly exogenous variation in mortality hazard, I use the death of a sibling as an instrument. My results show that survey responses contain economically relevant information about longevity expectations and confirm the predictions of life-cycle theories about the effect of these expectations on intertemporal choice.
Subjective mortality hazard shocks and the adjustment of consumption expenditures
Bíró, Anikó (author)
2012
Article (Journal)
English
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