Households' heterogeneous welfare effects of using home equity for life cycle consumption
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<title>Households' heterogeneous welfare effects of using home equity for life cycle consumption</title>
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<namePart>Been, Jim</namePart>
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<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>
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<topic>Economía</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080596453">
<topic>Estado del bienestar</topic>
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<topic>Viviendas</topic>
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<url displayLabel="electronic resource" usage="primary display">https://www.sciencedirect.com/science/article/pii/S2212828X23000592</url>
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<title>The Journal of the economics of ageing</title>
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<publisher>Oxford : Elsevier ScienceDirect, 2021-</publisher>
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<identifier type="local">MAP20210010194</identifier>
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<text>05/02/2024 Volumen 27 - 2024 , p. 15</text>
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