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    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/23259

    Title: Life Cycle Mortgage Payment and Forced Saving
    Authors: 林祖嘉;C.L Chen;S.J. Lin
    Lin, Chu-Chia;Chen, Chien-Liang;Lin, Sue-Jing
    Keywords: Life Cycle;Mortgage Payment;Forced Savings
    Date: 2000
    Issue Date: 2009-01-09 12:15:45 (UTC+8)
    Abstract: A common puzzling phenomenon over the household survey of Taiwan is
    that the renters' saving rate is higher than that of the owners', while the latter
    has a higher average income than the former. One reason for this feature is
    that certain housing owners have to pay a greater amount of mortgage
    payment that is not included in saving. And on the other hand, the saving
    decision is correlated with the tenure decision, while the tenure decision is
    also correlated with the household's life cycle, in addition to income. And
    therefore, when one tries to estimate the correct saving rate, he or she has
    to consider the household's life cycle as well.
    In this study, we apply a data set of the household survey of Taiwan to
    investigate the correlation of life cycle, mortgage payment, and forced
    savings. First of all, we estimate the saving rate in a traditional way, and
    then estimate the saving rate after the adjustment of mortgage payment. To
    figure out the correct saving rate with the tenure decision, we evaluate
    different households' saving behaviors according to different cohorts, and
    consequently, we could check how life cycle plays its role in this model. And
    our finding is, that for every cohort, the forced savings is significant for
    owners with mortgage and for renters as well.
    Relation: International Real Estate Review,3(1),109-141
    Data Type: article
    Appears in Collections:[經濟學系] 期刊論文

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