Financial Motivations for the Old Age - Neri, Marcelo Cortes, Carvalho, Kátia, Corsi, Alessandra

January/2003

Sobre o paper: 

Besides this introduction, this paper is divided into other four sections. In Section 2, we review the literature about the motivations behind the demand for long-term assets in family units. In Section 3, we use data from a survey carried out by the Brazilian Credit and Savings Association [Associação Brasileira de Crédito e Poupança (Abecip)], to evaluate the relevance of these motivations in the Brazilian context. In Section 4, we analyse, using microdata from a series of household surveys, the life cycle trajectories of some specific resources in regard to the theoretical review and the qualitative results previously discussed. These assets include small businesses and housing, most subject to credit market constraints, as well as social security benefits and health insurance which play a central role as the source of savings and insurance amongst elderly people. Finally, in the Section 5, the main results are summed up.