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This study explored the psychological mechanisms that underlie the retirement planning and saving tendencies of Dutch … analysis models to identify the mechanisms that underlie perceived financial preparedness for retirement. Findings revealed … psychological and retirement planning constructs, but also in the robustness of the path models. These findings suggest that policy …
Persistent link: https://www.econbiz.de/10005144426
The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...
Persistent link: https://www.econbiz.de/10005042223
public finance. Using data from six biennial waves of the Health and Retirement Study 1992–2002, we estimate grouped tobit …
Persistent link: https://www.econbiz.de/10005144428
There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post effects of risk using a stochastic version of the Ramsey model. We develop a simulation-based econometric methodology which allows us to estimate the model in the structural form...
Persistent link: https://www.econbiz.de/10005137127
), allows for age-dependent labour productivity (thus mimicing life-cycle saving), and includes a rudimentary pension system …
Persistent link: https://www.econbiz.de/10005144537
A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, the...
Persistent link: https://www.econbiz.de/10005144543
has a lifetime perspective of the risk exposure. In addition, the government may induce a higher saving rate, due to the …
Persistent link: https://www.econbiz.de/10005137323
-generations model, where one country has PAYG pensions and the other country has funded pensions. The paper shows that the PAYG country …
Persistent link: https://www.econbiz.de/10008838553
We estimate the impact of health and financial incentives on the retirement transitions of older workers in Spain … derived as changes in a composite health stock measure over time. We examine labour market exits into both old age retirement … and a broader definition of retirement including inactivity, while controlling for unobserved heterogeneity. We find that …
Persistent link: https://www.econbiz.de/10005136959
Using Italian data, we estimate an option value model to quantify the effect
Persistent link: https://www.econbiz.de/10008838550