We estimate the effect of pension reforms on households expectations of retirement outcomes and private wealth … expectations of the age at which workers expect to retire and of the ratio of pension benefits to pre-retirement income between … 1989 and 2002. We find that workers have revised expectations in the direction suggested by the reform and that there is …

interest rate rule, raising the possibility of inefficient fluctuations due to the dependence of expectations on extraneous … combine forward looking expectations and predetermined variables. We consider a variety of specifications that incorporate …

expectations about terrorism, and study the effects these last have on households' portfolio choices and spending patterns. We find …

We estimate the effect of pension reforms on households’ expectations of retirement outcomes and private wealth … expectations of the age at which workers expect to retire and of the ratio of pension benefits to pre-retirement income between … 1989 and 2002. We find that workers have revised expectations in the direction suggested by the reform and that there is …

interest rate rule, raising the possibility of inefficient fluctuations due to the dependence of expectations on extraneous … combine forward looking expectations and predetermined variables. We consider a variety of specifications that incorporate …