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Fiscal policy in the U.S. and other countries renders intertemporal budgets non-differentiable, nonconvex, and discontinuous. Consequently, assessing work and saving responses to policy requires global optimization. This paper develops the Global Life-Cycle Optimizer (GLO), a stochastic...
Persistent link: https://www.econbiz.de/10014528375
This paper explores sources of complexity in dynamic optimization, examining how individuals navigate variation in incomes, prices, and returns in ten-period consumption-saving decisions. Our findings reveal that dynamic optimization poses significant challenges, resulting in suboptimal choices...
Persistent link: https://www.econbiz.de/10015056146
theory: tax-payers' response to incentives is slow, which changes the optimal management of collection promises. Finally, we …
Persistent link: https://www.econbiz.de/10013334436
Persistent link: https://www.econbiz.de/10011485929
Why should people - and economies - save? This book on the savings problem in Latin America and the Caribbean suggests … Savings Count -- 4 More and Better Saving for Productive Investment 5 Saving for Stability.-6 Running Out of Time: The …
Persistent link: https://www.econbiz.de/10012398045
characterization of asset premia and precautionary savings effects in steady state …
Persistent link: https://www.econbiz.de/10014512052
Automatic enrollment is often used to increase retirement savings. What are the effects of using it (or, alternatively …, requiring an active enrollment choice) to increase short-term savings? We evaluate two experiments in the U.K. at employers that … enable workers to set up payroll contributions to fund short-term savings accounts. In the first experiment (N = 7 …
Persistent link: https://www.econbiz.de/10014576610
-preference survey experiment of Canadian households. Low risk aversion, substitution between housing and consumption and low marginal …
Persistent link: https://www.econbiz.de/10014247959
We introduce a new database of historical Genuine Savings (GS), an indicator of sustainable development promoted by the …
Persistent link: https://www.econbiz.de/10014250172
they lost their predominance within the following decades as they were pushed to convert into Savings and Loans (S …&Ls). This study examines whether the U.S. government-insured Postal Savings System attracted funds away from B&Ls precisely when … show that the sudden rise in local postal savings was associated with local downturns in B&Ls. Using a panel vector …
Persistent link: https://www.econbiz.de/10013435171