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

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<dc:creator>Been, Jim</dc:creator>
<dc:date>2024-02-05</dc:date>
<dc:description xml:lang="es">Sumario: 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</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/185739.do</dc:identifier>
<dc:language>eng</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Economía</dc:subject>
<dc:subject xml:lang="es">Estado del bienestar</dc:subject>
<dc:subject xml:lang="es">Viviendas</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">Households' heterogeneous welfare effects of using home equity for life cycle consumption</dc:title>
<dc:relation xml:lang="es">En: The Journal of the economics of ageing . - Oxford : Elsevier ScienceDirect, 2021-. - 05/02/2024 Volumen 27 - 2024 , p. 15</dc:relation>
</rdf:Description>
</rdf:RDF>