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Title:Stochastic mortality, subjective survival expectations, and individual saving behavior PDF Logo
Authors:Post, Thomas
Hanewald, Katja
Issue Date:2010
Series/Report no.:SFB 649 discussion paper 2010-040
Abstract:Theoretical studies suggest that unexpected changes in future mortality and survival probabilities (stochastic mortality) are important determinants of individuals' decisions about consumption, saving, asset allocation, and retirement timing. Using data on subjective survival expectations elicited in the Survey of Health, Ageing and Retirement in Europe (SHARE) and corresponding life table data from the Human Mortality Database (HMD), we find evidence of respondents' awareness of stochastic mortality. We also find that respondents' saving behavior is influenced by stochastic mortality perceptions.
Subjects:stochastic mortality
subjective survival expectations
forecast dispersion
savings behavior
JEL:D14
D84
D91
H31
J11
Document Type:Working Paper
Appears in Collections:SFB 649 Discussion Papers, HU Berlin

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