While the savings of retired singles tend to fall with age, those of retired couples tend to rise. The authors of the paper presented in this seminar estimate a rich model of retired singles and couples with bequest motives and uncertain longevity and medical expenses. Their estimates imply that while medical expenses are an important driver of the savings of middle-income singles, bequest motives matter for couples and high-income singles, and generate transfers to non-spousal heirs whenever a household member dies. The interaction of medical expenses and bequest motives is a crucial determinant of savings for all retirees. Hence, to understand savings, it is important to model household structure, medical expenses, and bequest motives.

Speaker

Mariacristina De Nardi

University of Minnesota, Minneapolis, USA

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Date

16.03.2022 | 17:15 - 18:30 (CET)

Event Location

Online


Department
Category
Keywords

Contact

Head and Dean of Graduate Studies