Households' heterogeneous welfare effects of using home equity for life cycle consumption

<?xml version="1.0" encoding="UTF-8"?><modsCollection xmlns="http://www.loc.gov/mods/v3" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-8.xsd">
<mods version="3.8">
<titleInfo>
<title>Households' heterogeneous welfare effects of using home equity for life cycle consumption</title>
</titleInfo>
<name type="personal" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20240019365">
<namePart>Been, Jim</namePart>
<nameIdentifier>MAPA20240019365</nameIdentifier>
</name>
<typeOfResource>text</typeOfResource>
<genre authority="marcgt">periodical</genre>
<originInfo>
<place>
<placeTerm type="code" authority="marccountry">gbr</placeTerm>
</place>
<dateIssued encoding="marc">2024</dateIssued>
<issuance>serial</issuance>
</originInfo>
<language>
<languageTerm type="code" authority="iso639-2b">eng</languageTerm>
</language>
<physicalDescription>
<form authority="marcform">print</form>
</physicalDescription>
<abstract displayLabel="Summary">Using a life-cycle model and a representative sample of households, we analyze the extent to which using home equity leads to (heterogeneity in) welfare gains over the life cycle. The most policy-feasible option to borrow against 50% of home equity over the life cycle leads to median (average) welfare gains of 7% (11%). However, we find substantial heterogeneity with half of the households facing a welfare gain between 3% and 13%. Much of this heterogeneity is explained by heterogeneity in households' income and (housing) wealth and less so by heterogeneity in their demographics or preferences for consumption smoothing and time</abstract>
<note type="statement of responsibility">Jim Been [et al.]</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080546915">
<topic>Economía</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080596453">
<topic>Estado del bienestar</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080552961">
<topic>Viviendas</topic>
</subject>
<classification authority="">921</classification>
<location>
<url displayLabel="electronic resource" usage="primary display">https://www.sciencedirect.com/science/article/pii/S2212828X23000592</url>
</location>
<relatedItem type="host">
<titleInfo>
<title>The Journal of the economics of ageing</title>
</titleInfo>
<originInfo>
<publisher>Oxford : Elsevier ScienceDirect, 2021-</publisher>
</originInfo>
<identifier type="local">MAP20210010194</identifier>
<part>
<text>05/02/2024 Volumen 27 - 2024 , p. 15</text>
</part>
</relatedItem>
<recordInfo>
<recordContentSource authority="marcorg">MAP</recordContentSource>
<recordCreationDate encoding="marc">240610</recordCreationDate>
<recordChangeDate encoding="iso8601">20240610090223.0</recordChangeDate>
<recordIdentifier source="MAP">MAP20240009571</recordIdentifier>
<languageOfCataloging>
<languageTerm type="code" authority="iso639-2b">spa</languageTerm>
</languageOfCataloging>
</recordInfo>
</mods>
</modsCollection>