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This paper constructs a model of retirement and saving by two earner couples. The model includes three dimensions of behavior: the joint determination of retirement and saving; heterogeneity in time preference; and the interdependence of retirement decisions of husbands and wives. Estimation is...
Persistent link: https://www.econbiz.de/10012468388
security are the least well informed about their social security benefits, while those who are most dependent on pensions are …
Persistent link: https://www.econbiz.de/10012470312
a simple life cycle explanation for savings. They also raise questions about whether pensions are fundamentally a tax … and Retirement Study (HRS), and the role of pensions in forming retirement wealth. Pension coverage is widespread … those with pensions than for those without pensions. Multivariate regressions relating total wealth to pension coverage and …
Persistent link: https://www.econbiz.de/10012472131
This paper specifies and estimates a structural dynamic stochastic model of the way individuals make retirement and saving choices in an uncertain world, and applies that model to analyze the effects of the stock market bubble on retirement behavior. The model includes individual variation both...
Persistent link: https://www.econbiz.de/10012469299
of pensions and social security that better reflects the accrual of benefits under defined contribution plans. We also …
Persistent link: https://www.econbiz.de/10012470495
An enhanced version of a structural model jointly explains benefit claiming, wealth and retirement, including reversals from states of lesser to greater work. The model includes stochastic returns on assets. Estimated with Health and Retirement Study data, it does a better job of predicting...
Persistent link: https://www.econbiz.de/10012459590