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Changes in Consumption and Activities at Retirement

Hurd, Michael; Rohwedder, Susann - de Nederlandsche Bank - 2005

The simple one -good model of life-cycle consumption requires consumption smoothing. According to previous results … based on partial spending and on synthetic panels, British and U.S. households apparently reduce consumption at retirement … one -good model of life-cycle consumption requires consumption smoothing. According to previous results based on partial …

Persistent link: https://www.econbiz.de/10005106653

Financial Literacy, Retirement Planning, and Household Wealth

Rooij, Maarten van; Lusardi, Annamaria; Alessie, Rob - de Nederlandsche Bank - 2011

There is ample empirical evidence documenting widespread financial illiteracy and limited pension knowledge. At the same time, the distribution of wealth is widely dispersed and many workers arrive on the verge of retirement with few or no personal assets. In this paper, we investigate the...

Persistent link: https://www.econbiz.de/10009274334

Financial Literacy and Planning: Implications for Retirement Wellbeing

Lusardi, Annamaria; Mitchell, Olivia S. - de Nederlandsche Bank - 2006

Evidence suggests only a minority of American households feels "confident" about retirement saving adequacy. Little is known about why people fail to plan for retirement, and whether planning and information costs might affect retirement saving patterns. To better understand these issues, we...

Persistent link: https://www.econbiz.de/10005101811

Financial literacy and stock market participation

Rooij, Maarten van; Lusardi, Annamaria; Alessi, Rob - de Nederlandsche Bank - 2007

Individuals are increasingly put in charge of their financial security after retirement. Moreover, the supply of complex financial products has increased considerably over the years. However, we still have little or no information about whether individuals have the financial knowledge and skills...

Persistent link: https://www.econbiz.de/10005106651

Can subjective survival expectations explain retirement behaviour?

O'Donnell, Owen; Teppa, Federica; Doorslaer, Eddy van - de Nederlandsche Bank - 2008

Theory predicts a number of mechanisms through which survival expectations influence retirement decisions: a wealth effect of a longer lifespan; an uncertainty effect through the return on savings; a longevity risk effect; and, an adverse selection effect from pooling within pensions. We use...

Persistent link: https://www.econbiz.de/10005106676

What Triggers Early Retirement? Results from Swiss Pension Funds

Bütler, Monika; Huguenin, Olivia; Teppa, Federica - de Nederlandsche Bank - 2005

Early retirement is predominantly considered as the result of incentives set by social security and the tax system. But people seem to retire early even in the absence of such distortions as the Swiss example demonstrates. We look for determinants of early retirement, in particular the role of...

Persistent link: https://www.econbiz.de/10005106677

The impact of interest-rate subsidies on long-term household debt: evidence from a large program

Martins, Nuno; Villanueva, Ernesto - de Nederlandsche Bank - 2005

The responsiveness of long-term household debt to the interest rate is a crucial parameter for assessing the effectiveness of public policies aimed at promoting specific types of saving. This paper estimates the effect of a reform of a large program that subsidized mortgage interest rates on...

Persistent link: https://www.econbiz.de/10005030215

Optimal life cycle investment with pay-as-you-go pension schemes: a portfolio approach

Heeringa, Willem - de Nederlandsche Bank - 2008

In this paper we show how pay-as-you-go pension schemes impact on the individual.s optimal investment portfolio. Introducing a pay-as-you-go pension scheme implies that human wealth of young generations is transferred to retired generations. As a consequence, individuals will in general invest...

Persistent link: https://www.econbiz.de/10005030221

Household saving behaviour and credit constraints in the Euro area

Blanc, Julia Le; Porpiglia, Alessandro; Teppa, Federica; … - de Nederlandsche Bank - 2014

constraints in 15 Euro Area countries. The empirical analysis is based on the Household Finance and Consumption Survey, a new … harmonized data set collecting detailed information on wealth holdings, consumption and income at the household level. Since the …

Persistent link: https://www.econbiz.de/10010790740

Reform of the mortgage interest tax relief system, policy uncertainty and precautionary savings in the Netherlands

Mastrogiacomo, Mauro - de Nederlandsche Bank - 2013

uncertainty on precautionary savings and, therefore, on consumption. We found that policy uncertainty alone could increase …

Persistent link: https://www.econbiz.de/10010660763