TY  - JOUR
AU  - King,Mervyn A.
AU  - Dicks-Mireaux,Louis
TI  - Asset Holdings and the Life Cycle
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 614
PY  - 1982
Y2  - August 1982
UR  - http://www.nber.org/papers/w0614
L1  - http://www.nber.org/papers/w0614.pdf
N1  - Author contact info:
Mervyn A. King
Governor
Bank of England
Threadneedle Street
London EC2R 8AH
 UNITED KINGDOM
Tel: 44-20-7601-4963
Fax: 44-20-7601-4953
E-Mail: mervyn.king@bankofengland.co.uk

Louis Dicks-Mireaux
AB  - Empirical studies of the life cycle savings model have tended to rej ect the hypothesis of a "hump-shaped" pattern for the wealth-age profile. In this paper we show, using new data on net worth for 12,734 families, that there is evidence that wealth declines after retirement provided that we control for differences in permanent income and take account of sample selection bias. The estimated rates of decumulation are consistent with a life cycle model in which there is uncertainty about the date of death.
ER  -