,which stands in contrast to what is commonly found in models without an endoge-nous savings motive. …

and savings decisions of singles and married couples. Partial insurance against wage and employment shocks is provided by … social programs, savings and the labor supplies of all adult household members. The optimal policy mix focuses mainly on …

. To do so, we specify a structural life-cycle model of the labor supply, savings, and social assistance claiming decisions …, savings, and the labor supplies of all adult household members. We show that the optimal policy mix is dominated by moderately …

structural life-cycle model of singles' and married couples' labor supply and savings decisions. The model includes heterogeneity …

pensionreforms led to an increase in the household savings rate in Germany until about2010. As domestic investment opportunities … could not absorb these additional sav-ings, they were partly invested abroad. The German current account-to-GDP ratiorose …. After 2010, private savings remained rather stable, but opportunities to investin Germany declined further. Our simulations …