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 in retirement preferences and in time preferences. Estimates are based …

retirement decisions of husbands and wives. Estimation is based on panel data from the Health and Retirement Study covering the …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 …

Bernanke (2005) hypothesized that a "global savings glut" was causing large trade imbalances. However, we show that the … global savings rates did not show a robust upward trend during the relevant period. Moreover, if there had been a global … savings glut there should have been a large investment boom in the countries that imported capital. Instead, those countries …

approaching retirement. It is not only households with low incomes that save little; a significant proportion of high income … different levels of asset accumulation by the time retirement age approaches …

In this paper, we examine several aspects of saving and dissaving after retirement. First, we argue that existing …

The effects on consumption and retirement of characteristics of the life cycle, especially the length of the horizon … effect on effort, but its magnitude is quite small. The panel from the Retirement History Survey is used, and life …-cycle effects on consumption and retirement are estimated jointly for 1973 and 1975. There is a weak small effect of a more distant …

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 …

of sensitivity to framing in investment decisions. Policymakers interested in enhancing retirement wellbeing would do …

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) …

Using data from the Health and Retirement Study, this paper creates variables measuring knowledge about future social … misinformation, imprecision and lack of information about retirement benefits is the norm. Those who are most dependent on social … best informed about their pension benefits. Women and minorities are less well informed about both types of retirement …