Subjective mortality hazard shocks and the adjustment of consumption expenditures
Subjective mortality hazard shocks and the adjustment of consumption expenditures
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DOI：
10.1007/s00148-012-0461-5
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发表时间：
2013-10-01
影响因子：
6.1
通讯作者：
Biro, Aniko
中科院分区：
文献类型：
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作者：
Biro, Aniko
我估计冲击的影响，主观死亡风险的消费支出的退休人员使用的调查健康，老龄化和退休在欧洲。我用生存概率的调查回答来衡量死亡率预期。为了在死亡率风险中创造合理的外生变量，我使用兄弟姐妹的死亡作为工具。我的研究结果表明，调查的答复包含经济相关的信息长寿的期望和确认的预测生命周期理论的影响，这些期望跨期选择。
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.