Saving for Bequest

We reviewed a standard Life Cycle Hypothesis. lts time horizon is life ・ time, and it is usually devided into two periods, young and old period. We work in young period and save, then consume the saving after retiring. However we can observe that wealth and saving rate of old people do not decrease as they get older, Why is that so ? We believe that the reason lies in the saving for bequest, and have tried theoretical analysis. The conclusion is that under full altruism, consumption is same for all ages, and under less than full altruism, cunsumption increase with age. Furthermore, we insist that under similar framework, the demand for housing increase more if we take our children into account. We will try to do research on how and how much wealth is transferred within family statisically and theoretically hereafer.文化編≪論文