Population Aging, Household Savings and Asset Prices: A Study Based on Urban Commercial Housing Prices

Zeng, Shihong; Zhang, Xinwei; Wang, Xiaowei; Zeng, Guowang

doi:10.3390/su11113194

Cited by 11 publications

(9 citation statements)

References 42 publications

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“…Finally, it will be important to persist with the task of financial education begun in recent years, seeking to provide young adults, adolescents, and even children with a basic knowledge of how money works (Harkin 2017). In this context, it will be important not only to help people understand that long-term financial planning matters, but also to ensure they are aware of the relative salience of different financial concerns at different stages over the course of their lives (Zeng et al 2019) so that they are able to take early action to guarantee the availability of resources at times of personal frailty (Claudelin et al 2018).…”

Section: Discussionmentioning

confidence: 99%

Does Death Anxiety Moderate the Adequacy of Retirement Savings? Empirical Evidence from 40-Plus Clients of Spanish Financial Advisory Firms

Garmendia

Topa

Herrador

et al. 2019

IJFS

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This three-wave study analyses the mediating role of financial behavior in the relationship between financial goals and retirement saving adequacy, and the moderating role of Death anxiety. The participants in the study (N = 276) were 40-plus Spanish clients of financial advisory firms. The results show that the relationship between financial goals and retirement saving adequacy is, in fact, mediated by financial behavior. We also found that death anxiety moderates the financial behavior-retirement saving adequacy relationship. The theoretical and practical implications of the study for design are discussed at the end of the paper.

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Section: Discussionmentioning

confidence: 99%

Does Death Anxiety Moderate the Adequacy of Retirement Savings? Empirical Evidence from 40-Plus Clients of Spanish Financial Advisory Firms

Garmendia

Topa

Herrador

et al. 2019

IJFS

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“…For example, house prices have a squeezing effect on residents' consumption ( 5 , 6 ), and high house prices affect population flow ( 7 – 9 ) and female fertility ( 10 , 11 ), as well as hindering employment, labor mobility supply ( 12 – 14 ), and the entrepreneurial activities of urban adults ( 15 ). Aging has an inhibitory effect on house prices ( 16 , 17 ), the social crime rate increases with the rise of house prices ( 18 ), and public service facilities have a direct impact on house prices ( 19 , 20 ).…”

Section: Literature Reviewmentioning

confidence: 99%

How Do Housing Prices Affect Residents' Health? New Evidence From China

Wang

Liang

2022

Front. Public Health

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This paper aims to explore the effect and mechanism of rising housing prices on residents' physical and mental health. Using data from the China Family Panel Studies from 2014 to 2018, we investigate the impact and mechanism of rising housing prices on the mental and physical health of urban residents through multiple grouping regression and analysis of variance. The study finds that overall, rising housing prices have a positive effect on residents' mental health but a negative effect on physical health, and those who do not own a house show the greatest adverse effect. The impact of rising housing prices on health is mainly reflected in three aspects: the wealth effect, cost effect, and comprehensive environmental expectation effect. Of these, the wealth effect and comprehensive environmental expectation effect play a role in promoting residents' health, whereas the cost effect has a strong inhibitory effect. This paper also analyzes how house prices impact health and finds that having health insurance reduces residents' active health behavior, thus affecting their physical and mental health levels, which has a positive effect on uninsured residents.

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“…Zeng et al (2019) conducted further research in this area and, implying a special solidarity among researchers, added that the saving levels are channels by which the population aging can affect house prices significantly.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…Within their neoclassical growth model, despite the considerable effect of population change on the savings rate, particularly when it lies over long-run level, there is, however, no evidence to substantiate all dropping in savings rate can be explicable by demographic adjustments. Zeng et al (2019) conducted further research in this area and, implying a special solidarity among researchers, added that the saving levels are channels by which the population aging can affect house prices significantly.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Demographic changes and savings behavior: the experience of a developing country

Rezaei¹

2021

JES

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PurposeThis paper aims to disclose the savings behavior of Iran's economy in the context of demographic transition.Design/methodology/approachEmploying a version of Ramsey-Cass-Koopmans growth model, this paper benefits from a broad range of data and variables which are mainly taken from the Central Bank of Iran's database. The study uses actual and calculated data to produce analogous simulated data. The data cover the 1970–2015 period. This long period provides an opportunity to simulate more valid time series. It is worth noting that due to the severe economic sanctions imposed on the Iran's economy, particularly after 2017, some most recent data have been obliterated from the sample.FindingsThe results, stemming from the simulated model, hint that; firstly, the population variable is a notable determinant of the savings rate. Secondly, the effects of a slump in the population growth rate would attenuate the savings level significantly. Thirdly, other pragmatic steps could be taken to redress the fallout of the demographic changes.Research limitations/implicationsThere are some limitations in providing broad data related to economic sectors in Iran. The savings data, for instance, are available as an aggregated time series, and if the authors had wide data of household level, they would have been able to build more detail-based model. Similar to this issue of lack of households’ income-based data, some measures such as high or low levels as well as detailed demographic data could be helpful in sophisticated household level resulting. In addition, the complex relationship between the government and social security (pension) funds, in terms of financing part of government's budget deficit by these funds, thwarts a typical researcher in using comprehensive and transparent government expenditure data in their research. In other words, the possible positive or negative role of the funds, as a related issue to the demographic changes, cannot simply be determined in the model. It might be possible after necessary corrections are carried out in the mentioned relations.Originality/valueIn fact, the problem statement in this paper is to discern how the population aging can impact the saving rates on the one hand, and to what extent its repercussion can be modified by the other theoretical-based determinants on the other. In fact, the underlying argument of the present research arises from the stylized facts concerning prognosticates of the future evolutions of the world's population. To that end, the study will use Iran's economic and demographic data.

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Population Aging, Household Savings and Asset Prices: A Study Based on Urban Commercial Housing Prices

Cited by 11 publications

References 42 publications

Does Death Anxiety Moderate the Adequacy of Retirement Savings? Empirical Evidence from 40-Plus Clients of Spanish Financial Advisory Firms

Does Death Anxiety Moderate the Adequacy of Retirement Savings? Empirical Evidence from 40-Plus Clients of Spanish Financial Advisory Firms

How Do Housing Prices Affect Residents' Health? New Evidence From China

Demographic changes and savings behavior: the experience of a developing country

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