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Can survey participation alter household saving behavior?
Crossley, Thomas F.; Bresser, Jochem de; Delaney, Liam; … - 2014
Much empirical research in economics is based on data from household surveys. Panel surveys are particularly valuable for understanding dynamics and heterogeneity. A possible concern with panel surveys is that survey participation itself may alter subsequent behavior. We provide novel evidence...
Persistent link: https://www.econbiz.de/10010260072
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Cash and pensions : have the elderly in England saved optimally for retirement
Crawford, Rowena; O'Dea, Cormac - 2014
Using a model where households can save in either a safe asset or in an illiquid, tax-advantaged pension, we assess the extent to which those who recently reached the state pension age in the UK have saved optimally for retirement. The policy environment specified closely matches that prevailing...
Persistent link: https://www.econbiz.de/10010402536
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Life-cycle consumption patterns at older ages in the US and the UK : can medical expenditures explain the difference?
Banks, James; Blundell, Richard W.; Levell, Peter; … - 2015
In this paper we document significantly steeper declines in nondurable expenditures in the UK compared to the US, in spite of income paths being similar. We explore several possible causes, including different employment paths, housing ownership and expenses, levels and paths of health status,...
Persistent link: https://www.econbiz.de/10010498398
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The effect of the financial crisis on older households in England
Banks, James; Crawford, Rowena; Crossley, Thomas F.; … - 2012
Prices of real and financial assets fell substantially in the UK during 2008-09. The fourth wave of the English Longitudinal Study of Ageing (ELSA) was in the field throughout this 'financial crisis'. We use these data and earlier ELSA waves first to document the effect of the crisis on the...
Persistent link: https://www.econbiz.de/10009526546
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Chapter 11. Complex Decision Making : The Roles of Cognitive Limitations, Cognitive Decline, and Aging
Keane, M.P.; Thorp, S. - In: Handbook of the economics of population aging : Volume 1, (pp. 661-709). 2016
We review the evidence on decision making in complex choice situations—i.e., situations where there are many alternatives and/or where attributes of alternatives are difficult to understand. We focus on choices about health insurance, health care, and retirement planning, all of which are very...
Persistent link: https://www.econbiz.de/10014023472
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Financial Regret at Older Ages and Longevity Awareness
Hurwitz, Abigail; Mitchell, Olivia S. - National Bureau of Economic Research - 2022
Older people often express regret about financial decisions made earlier in life that left them susceptible to old-age insecurity. Prior work has explored one outcome, saving regret, or peoples' expressed wish that they had saved more earlier in life. The present paper extends attention to five...
Persistent link: https://www.econbiz.de/10013462744
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Retirement sorted? : the adequacy and optimality of wealth among the near-retired
Crawford, Rowena; O'Dea, Cormac - 2014
Much of the focus of the UK pensions policy debate over the past decade has been on the adequacy (or otherwise) of private retirement saving. In this paper, we present the first assessment of the optimality of the retirement resources of English couple households born in the 1940s. Here,...
Persistent link: https://www.econbiz.de/10010402537
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Savings and prize-linked savings accounts
Atalay, Kadir; Bakhtiar, Fayzan; Cheung, Stephen; … - In: Journal of Economic Behavior & Organization 107 (2014) PA, pp. 86-106
Many households have insufficient savings to handle moderate and routine consumption shocks. Many of these financially …-linked savings (PLS) accounts, combining security of principal with lottery-type jackpots, can increase savings among these at …-risk households. Results from an online experiment show that the introduction of PLS accounts increase total savings and reduce …
Persistent link: https://www.econbiz.de/10011077030
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The effect of non-contributory pensions on saving in Mexico
Alonso Ortiz, Jorge; Amuedo Dorantes, Catalina; Juarez, … - 2016
This paper examines the effects of non-contributory pension programs at the federal and state levels on Mexican households' saving patterns using micro data from the Mexican Income and Expenditure Survey. The federal program by itself appears to reduce the saving rate of households whose oldest...
Persistent link: https://www.econbiz.de/10011544981
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How do Behavioral Approaches to Increase Savings Compare? Evidence from Multiple Interventions in the U.S. Army
Patterson, Richard W.; Skimmyhorn, William L. - National Bureau of Economic Research - 2022
increase retirement savings. However, gauging the relative efficacy of these approaches is challenging because the supporting … rates, active choice, and automatic enrollment) designed to increase retirement savings. Consistent with previous literature …, we find sizable effects of savings interventions on participation and cumulative contributions that increase with the …
Persistent link: https://www.econbiz.de/10013462745