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rising savings rates among younger households are consistent with rising income uncertainty and higher saving rates among … that rising income uncertainty and pension reforms can account for over half of the increase in the urban household savings …China's household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U …
Persistent link: https://www.econbiz.de/10012462092
We develop a model to study optimal decision making in the face of uncertainty about the timing and structure of a … future event. The model is used to study optimal decision making and welfare when individuals face uncertainty about when and … how Social Security will be reformed. When individuals save optimally for retirement, the welfare cost of uncertainty …
Persistent link: https://www.econbiz.de/10012457084
behavior, private pensions, and gifts and bequests. The econometric studies resolve this uncertainty and indicate that social …
Persistent link: https://www.econbiz.de/10012478813
In this paper, I survey the previous literature on the saving behavior of the aged in Japan and then present some … survey data on the saving behavior of the aged in Japan that became available recently. To summarize the main findings of … the case of Japan …
Persistent link: https://www.econbiz.de/10012463048
In this paper, I survey the previous literature on the saving behavior of the aged in Japan and then present some … survey data on the saving behavior of the aged in Japan that became available recently. To summarize the main findings of … that this model is highly applicable in the case of Japan …
Persistent link: https://www.econbiz.de/10012466314
Persistent link: https://www.econbiz.de/10001476940
specified in current law. Calculations of expected utility show that these risk reduction techniques can raise expected utility … relative to the plans with no guarantees. The ability to do so depends on the individual's risk aversion level. This underlines … the idea that different individuals would rationally prefer different investment strategies and risk reduction options …
Persistent link: https://www.econbiz.de/10012467601
-contribution (DC) plans that typically contain a minimum benefit guarantee (DC-MB). Risk management techniques must be used to control … the S&P500. Calculations show that the true risk-adjusted value of unfunded guarantees in a realistic DC-MB plan equals 40 … 'basis risk' if they chose a non-standard portfolio. However, for large conversions from DB to DC-MB plans, in which there is …
Persistent link: https://www.econbiz.de/10012469983
learned about such political risk in PAYG pension systems. From this small sample, I find that projections of rising costs …
Persistent link: https://www.econbiz.de/10012471769
reacted to the increase in uncertainty about the future path of income that such an event produced. Our estimates are obtained …
Persistent link: https://www.econbiz.de/10012464736