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Empirical Determinants of Intertemporal Choice
Brown, Jeffrey Robert; Ivković, Zoran; Weisbenner, Scott - National Bureau of Economic Research (NBER) - 2013
We study the empirical determinants of intertemporal choice by analyzing a unique decision Croatian retirees made recently about whether to accept an immediate pension payment or a larger stream of delayed payments. Individual decisions are correlated in sensible ways with income, liquidity...
Persistent link: https://www.econbiz.de/10010969313
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Annuitized Wealth and Post-Retirement Saving
Laitner, John; Silverman, Dan; Stolyarov, Dmitriy L. - National Bureau of Economic Research (NBER) - 2014
We introduce a tractable model of post-retirement saving behavior in which households have a precautionary motive arising from uninsured health status risks. The model distinguishes between annuitized and non-annuitized wealth, emphasizes the importance of asset composition in determining...
Persistent link: https://www.econbiz.de/10010950965
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The Great Recession, Decline and Rebound in Household Wealth for the Near Retirement Population
Gustman, Alan L.; Steinmeier, Thomas L.; Tabatabai, Nahid - National Bureau of Economic Research (NBER) - 2014
This paper uses data from the Health and Retirement Study to examine the effects of the Great Recession on the wealth held by the near retirement age population from 2006 to 2012. For the Early Boomer cohort (ages 51 to 56 in 2004), real wealth in 2012 remained 3.6 percent below its 2006 value....
Persistent link: https://www.econbiz.de/10010951339
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Government Policy and Labor Supply with Myopic or Targeted Savings Decisions
Kaplow, Louis - National Bureau of Economic Research (NBER) - 2015
A central justification for social insurance and for other policies aimed at retirement savings is that individuals may … payroll taxes and other withholding to fund retirement savings as akin to an income tax, while largely ignoring the distant …, making savings-promotion policies much more costly than appreciated. Or consider what may be the labor supply implications …
Persistent link: https://www.econbiz.de/10011271390
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Market Valuation of Accrued Social Security Benefits
Geanakoplos, John; Zeldes, Stephen P. - National Bureau of Economic Research (NBER) - 2009
One measure of the health of the Social Security system is the difference between the market value of the trust fund and the present value of benefits accrued to date. How should present values be computed for this calculation in light of future uncertainties? We think it is important to use...
Persistent link: https://www.econbiz.de/10005079166
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Optimal Life-Cycle Investing with Flexible Labor Supply: A Welfare Analysis of Life-Cycle Funds
Gomes, Francisco; Kotlikoff, Laurence; Viceira, Luis M. - National Bureau of Economic Research (NBER) - 2008
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 benefits and portfolio choice over safe bonds and risky...
Persistent link: https://www.econbiz.de/10005085056
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Aging, Saving, and Public Pensions in Japan
Horioka, Charles Yuji; Suzuki, Wataru; Hatta, Tatsuo - National Bureau of Economic Research (NBER) - 2007
We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the impact of that system on Japan's household saving rate and obtain the following results: first, the age structure of Japan's population can explain the level of, and past and...
Persistent link: https://www.econbiz.de/10005085098
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How Did the Recession of 2007-2009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?
Gustman, Alan L.; Steinmeier, Thomas L.; Tabatabai, Nahid - National Bureau of Economic Research (NBER) - 2011
This paper uses asset and labor market data from the Health and Retirement Study (HRS) to investigate how the recent "Great Recession" has affected the wealth and retirement of those in the population who were just approaching retirement age at the beginning of the recession, a potentially...
Persistent link: https://www.econbiz.de/10009353493
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Riester Pensions in Germany: Design, Dynamics, Targetting Success and Crowding-In
Börsch-Supan, Axel H.; Coppola, Michela; Reil-Held, Anette - National Bureau of Economic Research (NBER) - 2012
than occupational pensions and unsubsidized private pension plans. Riester pension savings totaled €9.4bn in 2010 with an …
Persistent link: https://www.econbiz.de/10011227937
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Integrating Retirement Models
Gustman, Alan L.; Steinmeier, Thomas - National Bureau of Economic Research (NBER) - 2009
This paper advances the specification and estimation of models of retirement and saving in two earner families. The complications introduced by the interaction of retirement decisions by husbands and wives have led researchers to adopt a number of simplifications to increase the feasibility of...
Persistent link: https://www.econbiz.de/10008628338