Do the Elderly Reduce Housing Equity? An International Comparison

Posted: 14 Jul 2008

See all articles by Tullio Jappelli

Tullio Jappelli

University of Naples Federico II - Department of Economics and Statistics; Center for Studies in Economics and Finance - CSEF; Centre for Economic Policy Research (CEPR); European Corporate Governance Institute (ECGI)

Maria Concetta Chiuri

University of Salerno - Centre for Studies in Economics and Finance (CSEF); Università degli Studi di Bari

Date Written: June 7, 2008

Abstract

We explore the pattern of elderly homeownership using microeconomic surveys of 15 OECD countries, merging 60 national household surveys on about 300,000 individuals. In all countries the survey is repeated over time, permitting construction of an international dataset of repeated cross-sectional data. We find that ownership rates decline considerably after age 60 in all countries. However, a large part of the decline depends on cohort effects. Adjusting for them, we find that ownership rates start falling after age 70 and reach a percentage point per year decline after age 75. We find that differences across country ownership trajectories are correlated with indicators measuring the degree of market regulations.

Keywords: Homeownership, Wealth Decumulation, Aging

JEL Classification: G2, R2

Suggested Citation

Jappelli, Tullio and Chiuri, Maria Concetta, Do the Elderly Reduce Housing Equity? An International Comparison (June 7, 2008). CFS Working Paper No. 2008/21 , Available at SSRN: https://ssrn.com/abstract=1158448

Tullio Jappelli (Contact Author)

University of Naples Federico II - Department of Economics and Statistics ( email )

Via Cintia - Monte S. Angelo
Napoli, 80126
Italy

HOME PAGE: http://www.csef.it/people/jappelli.htm

Center for Studies in Economics and Finance - CSEF

University of Naples Federico II
Via Cinthia - Monte S. Angelo
Napoli, 80146
Italy

HOME PAGE: http://www.csef.it/people/jappelli.htm

Centre for Economic Policy Research (CEPR)

London
United Kingdom

HOME PAGE: http://www.cepr.org/researchers/details/rschcontact.asp?IDENT=106354

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Maria Concetta Chiuri

University of Salerno - Centre for Studies in Economics and Finance (CSEF) ( email )

CSEF
84084 Fisciano, Salerno
Italy
+39 080 504 9340 (Phone)
+39 080 504 9149 (Fax)

Università degli Studi di Bari ( email )

Piazza Umberto I
70124 Bari, 70121
Italy

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