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What is an adequate standard of living during retirement?
Binswanger, Johannes; Schunk, Daniel - 2009
Many economists and policy-makers argue that households do not save enough to maintain an adequate standard of living during retirement. However, there is no consensus on the answer to the underlying question about what this standard should be, despite the fact that it is crucial for the design...
Persistent link: https://www.econbiz.de/10003923525
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On the welfare cost of consumption fluctuations in the presence of memorable goods
Hai, Rong; Krueger, Dirk; Postlewaite, Andrew - 2013
. We construct a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …
Persistent link: https://www.econbiz.de/10010208579
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Population aging, social security and fiscal limits
Heer, Burkhard; Polito, Vito; Wickens, Michael R. - 2018
We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper limit to the real value of tax revenues. This limit implies an endogenous threshold dependency ratio, i.e. a point in the cross-section distribution of the population beyond...
Persistent link: https://www.econbiz.de/10011864671
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The commitment value of prefunded pensions
Garon, Jean-Denis - 2015
This paper studies how prefunding public pensions can improve policy outcomes when short-sighted governments cannot … commit. We focus on sustainable plans, where optimal nonlinear pensions are not reneged on by sequential governments …. Prefunding pensions is a commitment mechanism. It implies lower contributions than does the second best policy, which reduces …
Persistent link: https://www.econbiz.de/10011405644
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Explaining fluctuations in the thrift savings fund daily balance at U.S. treasury
Skidmore, Mark; Alvayay Torrejón, Camila; Pare, David - 2021
voluntary federal government employee retirement savings vehicle called the Thrift Savings Plan. The G-Fund is managed as …
Persistent link: https://www.econbiz.de/10012514922
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Social security and personal saving : 1971 and beyond
Meguire, Philip - In: Empirical economics : a journal of the Institute for … 28 (2003) 1, pp. 115-139
Persistent link: https://www.econbiz.de/10001724108
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Optimal social security claiming behavior under lump sum incentives : theory and evidence
Maurer, Raimond; Mitchell, Olivia S.; Rogalla, Ralph; … - 2019
Many Americans claim Social Security benefits early, though this leaves them with lower benefits throughout retirement. We build a lifecycle model that closely tracks claiming patterns under current rules, and we use it to predict claiming delays if, by delaying benefits, people received a lump...
Persistent link: https://www.econbiz.de/10012113838
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The rationale for fundamental pension reform in Germany and the United States : an assessment
Burtless, Gary - 2001
system. Some or all of the lost benefits would be replaced by pensions from newly created individual, defined …
Persistent link: https://www.econbiz.de/10011399275
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Is social security part of the social safety net?
Brown, Jeffrey R.; Coronado, Julia Lynn; Fullerton, Don - 2009
Building on the existing literature that examines the extent of redistribution in the Social Security system as a whole, this paper focuses more specifically on how Social Security affects the poor. This question is important because a Social Security program that reduces overall inequality by...
Persistent link: https://www.econbiz.de/10003824985
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Lessons of the financial crisis for the design of national pension systems
Burtless, Gary - 2009
investment strategy for DC pensions. Workers who follow identical investment strategies but who retire a few years apart can … receive DC pensions that are startlingly unequal. Second, it is hard for ordinary workers, as opposed to optimal planners, to …
Persistent link: https://www.econbiz.de/10003872221