The size and composition of wealth holdings in the United States, Italy, and the Netherlands
By: Arie Kapteyn, Constantijn Panis.
Contributors: Panis, Constantijn W. A.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10182; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10182.
Publisher: National Bureau of Economic Research
Published: 2003
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Wealth -- United States.; Wealth -- Italy.; Wealth -- Netherlands.
Description: "This paper analyzes retirement saving and portfolio choice in the United States, Italy, and the Netherlands.  While these countries enjoy roughly the same standard of living, they vary widely in their institutional organization of retirement income provisions.  Building on extensions of the life cycle model, we derive hypotheses on the implications of institutional differences for wealth accumulation and portfolio composition.  Examples of implications are that the ratio of net worth and gross wealth should be highest in Italy, that Dutch households should hold the lowest wealth levels at retirement and that the ownership of risky assets should be highest in the U.S.  We investigate these and other hypotheses at both the macro and micro level and find that the data are generally consistent with the hypotheses"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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