alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption … consumption smoothing is actually feasible. ESPlanner's saving and life insurance recommendations generate the smoothest possible … consumption/saving of low-income households for the simple reason their income tax liabilities are relatively small. And social …

We investigate optimal consumption, asset accumulation and portfolio decisions in a realistically calibrated life …-cycle model with flexible labor supply. Our framework allows for wage rate uncertainly, variable labor supply, social security …, variable labor materially alters pre-retirement portfolio choice by significantly raising optimal equity holdings. Using this …

newly produced capital differently from old capital. Policies that do make this distinction are denoted investment policies … new capital, investment incentives can generate significant inframarginal redistribution from current holders of wealth to … general equilibrium, perfect foresight, overlapping generations life-cycle model, are:1)Investment incentives, even if …

longitudinal age-earnings and age-consumption profiles. These profiles are simply too flat to generate substantial lifecycle …

This paper focuses on U.S. saving, demographics, and fiscal policy. We use data from the Consumer Expenditure Surveys … of the 1980s to consider the effect of demographic change on past and future U.S. saving rates. Our findings indicate … that demographic change may significantly alter the U.S. rate of national saving and current account position over the next …

' labor supply and saving assuming standard preferences. The system incorporates kinks from federal personal income tax …'s full set of work and saving disincentives. Consequently, it can facilitate analyses of structural labor supply and tax … discontinuous. Consequently, assessing work and saving responses to policy requires global optimization. This paper develops the …