Health shocks and housing downsizing: How persistent is ‘ageing in place’?
نویسندگان
چکیده
Individual preferences for ‘ageing in place’ (AIP) old age are not well understood. One way to test the strength of AIP preference is investigate effect health shocks on residential mobility smaller size or value dwellings, which we refer as 'housing downsizing'. This paper exploits more than a decade worth longitudinal data study older people's housing decisions across wide range European countries. We estimate different proxies downsizing (residential mobility, differences home value, wealth ratio), examine persistence preferences. Our findings suggest that consistently with hypothesis, after every life, likelihood decreases by two percentage points (pp). However, experience shock partially reverts such culturally embedded non-negligible magnitude 9pp increase probability onset degenerative illness), 0.6 fewer rooms illness. Such estimates larger northern and central
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ژورنال
عنوان ژورنال: Journal of Economic Behavior and Organization
سال: 2022
ISSN: ['0167-2681', '1879-1751']
DOI: https://doi.org/10.1016/j.jebo.2022.10.039