to generations that follow of a lower capital stock. Across a range of parameter values, the partial equilibrium impact …

This article examines how the availability of annuities affects savings and inequality in economies in which neither … CBS utility function indicate that perfecting annuity insurance can significantly reduce national savings. Indeed, the … savings …

with helping households accumulate liquid savings that can be deployed when urgent pre-retirement needs arise … financial shocks. One consequence of this financial vulnerability is that many individuals use a portion of their retirement … savings during their working years. For every $1 that flows into 401(k)s and similar accounts, between 30¢ and 40¢ leaks out …

show that people who score higher on the financial literacy questions are also much more likely to plan for retirement …

We develop a life-cycle model of optimal retirement and savings behavior under complete markets where retirement is … proportionately, while, contrary to conventional views, reducing savings rates. The retirement age is not simply proportional to … retirement) and higher consumption (lower savings) …

This paper estimates reduced form retirement and wealth equations, and analyzes the relationship between them. Data are … from the first four waves of the longitudinal Health and Retirement Study, individuals born from 1931 to 1941. Single … equation retirement models relate the probability of retiring to forward looking measures of changes in the values of social …

optimally devote more of their savings to non-retirement accounts and less to 401(k) accounts, since the relative appeal of …This paper explores how an environment of persistent low returns influences saving, investing, and retirement behaviors … the (system-defined) Full Retirement Age of 66. In the context of a zero return environment, we show that workers will …

This paper revisits capital-skill complementarity and inequality, as in Krusell, Ohanian, Rios-Rull and Violante (KORV …. We find strong evidence for continued capital-skill complementarity in the most recent data, and that the model continues …