Showing 1 - 10 of 1,949
We study the design of pension benefits for male and female workers. Women live longer than men but have a lower wage. Individuals can be single or live in couples who pool their incomes. Social welfare is utilitarian but an increasing concave transformation of individuals’ lifetime utilities...
Persistent link: https://www.econbiz.de/10013224069
relationship between inequality of entitlements, mortality risk, and the size of redistribution in a stylized social security … system. We find that mortality risk, when negatively correlated with entitlements, significantly lowers subjects’ willingness …
Persistent link: https://www.econbiz.de/10013292508
expectancy uses a Bayesian Model Ensemble approach to stochastic mortality modelling to generate forecasts of intergenerationally …
Persistent link: https://www.econbiz.de/10013314670
We study the impact of endogenous longevity on optimal tax progressivity and inequality in an overlapping generations model with skill heterogeneity. Higher tax progressivity decreases both the longevity gap and net income inequality, but at the expense of lower average lifetime and lower...
Persistent link: https://www.econbiz.de/10013314957
We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment and relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of...
Persistent link: https://www.econbiz.de/10013118350
This paper studies attention allocation behavior of rationally inattentive consumers who have CRRA preferences, face uninsured capital income risk, and suffer from an information-processing capacity constraint. For given attention devoted to capital income risk, we solve for the optimal...
Persistent link: https://www.econbiz.de/10012892117
We study optimal savings in continuous time with exogenous transitions between employment and unemployment as the only …
Persistent link: https://www.econbiz.de/10012892186
study how cash in hand influences decisions in a different but very important domain: savings. Savings accounts are a … promising tool for reducing poverty, but the use of savings accounts is often puzzlingly low. Holding on to cash that needs to … be physically deposited into a savings account may increase the psychological costs of saving. This study experimentally …
Persistent link: https://www.econbiz.de/10012865170
Incomplete markets models imply heterogeneous household savings behaviour which in turn generates pecuniary … in the population, these savings externalities may contribute to inequality. Working with an open economy heterogenous … earnings processes of British households with university and non-university educated heads entail savings externalities that …
Persistent link: https://www.econbiz.de/10012871023
Most economic models assume that time preferences are stable over time, but the evidence on their long-term stability is lacking. We study whether and how time preferences change over the life cycle, exploiting representative long-term panel data. We provide new evidence that discount rates...
Persistent link: https://www.econbiz.de/10013239561