policy consists in full deferral of income taxes on savings and a full taxation of interest. Mobility of the old calls for … savings in combination with full tax exemption on capital income …

We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and …

impact of survival on the return of their savings. We also claim that because of its non-monetary form, effort is not … of annuitized savings is desirable for both types. This tax is higher for the low-survival individual. Under asymmetric …

How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … to study this question. As of 2005 (with a phase-in period between 2002-04), the German pension administration started to … send out annual letters providing detailed and comprehensible information about the pension system and individual expected …

view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to …

of policy priority is derived. Efficient tax policy ranks investment in human capital higher than investment in nonhuman …

results suggest that the correlation between investment and savings depends on institutions, exchange rate risk and credit …

We use a unique dataset on individual retirement decisions in Swiss pension funds to analyze the choice between an … annuity and a lump sum at retirement. Our analysis suggests the existence of an “acquiescence bias”, meaning that a majority … accumulated pension capital are much more likely to be withdrawn as a lump sum, suggesting a potential moral hazard behavior or a …