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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 …
Persistent link: https://www.econbiz.de/10012764527
higher marriage rates and higher divorce rates will be associated with higher savings rates in the presence of economies of … marriage and with lower savings rates in the presence of diseconomies of marriage. In the context of traditional gender roles …, this implies higher saving rates by young men and lower saving rates by young women than in less traditional countries, the …
Persistent link: https://www.econbiz.de/10013139496
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 …
Persistent link: https://www.econbiz.de/10013092244
We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by introducing a load factor on the interest rate...
Persistent link: https://www.econbiz.de/10013157843
In this paper we explore the implication of a morbidity risk for the relationship between longevity and annuitization. We divide old-age life into two periods with uncertain survival from the end of the first to the end of the second. We show that a rise in the survival rate causes different...
Persistent link: https://www.econbiz.de/10012759851
How does risk affect saving? Empirical work typically examines the effects of detectible differences in risk within the … data. How these differences affect saving in theoretical models depends on the metric one uses for risk. For labor …-income risk, second-degree increases in risk require prudence to induce increased saving demand. However, prudence is not …
Persistent link: https://www.econbiz.de/10012770441
We study the impact of heterogeneous saving behavior on the distributional effects of public investment. A capital tax …
Persistent link: https://www.econbiz.de/10013055386
This paper provides the proofs to the analysis of a continuous time matching model with saving in Bayer and Wälde (2010 …
Persistent link: https://www.econbiz.de/10013144211
We analyse optimal saving of risk-averse households when labour income stochastically jumps between two states. The … generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth …
Persistent link: https://www.econbiz.de/10013144214
This paper studies second best policies for education, saving, and labour in an OLG model in which endogenous growth …
Persistent link: https://www.econbiz.de/10013146790