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

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      <subfield code="a">Households' heterogeneous welfare effects of using home equity for life cycle consumption</subfield>
      <subfield code="c">Jim Been [et al.]</subfield>
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      <subfield code="a">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</subfield>
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      <subfield code="a">Estado del bienestar</subfield>
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      <subfield code="a">Been, Jim</subfield>
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      <subfield code="g">05/02/2024 Volumen 27 - 2024 , p. 15</subfield>
      <subfield code="t">The Journal of the economics of ageing </subfield>
      <subfield code="d">Oxford : Elsevier ScienceDirect, 2021-</subfield>
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