Arbeitspapier
The effect of the financial crisis on older households in England
Prices of real and financial assets fell substantially in the UK during 2008-09. The fourth wave of the English Longitudinal Study of Ageing (ELSA) was in the field throughout this 'financial crisis'. We use these data and earlier ELSA waves first to document the effect of the crisis on the finances of those aged 50 and over in England, and second, to estimate the effect of wealth shocks on household consumption and individual expectations of the future. Many household experienced a significant wealth shocks, but these shocks led to modest spending effects and small revisions to expectations regarding future bequests. Expectations of bequests seem particularly tied to housing wealth.
- Sprache
-
Englisch
- Erschienen in
-
Series: IFS Working Papers ; No. W12/09
- Klassifikation
-
Wirtschaft
Consumer Economics: Empirical Analysis
Household Saving; Personal Finance
Macroeconomics: Consumption; Saving; Wealth
Financial Crises
Portfolio Choice; Investment Decisions
- Thema
-
consumption
expectations
financial crisis
wealth
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Banks, James
Crawford, Rowena
Crossley, Thomas
Emmerson, Carl
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for Fiscal Studies (IFS)
- (wo)
-
London
- (wann)
-
2012
- DOI
-
doi:10.1920/wp.ifs.2012.1209
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Banks, James
- Crawford, Rowena
- Crossley, Thomas
- Emmerson, Carl
- Institute for Fiscal Studies (IFS)
Entstanden
- 2012
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