affect behavior. The data are from an administrative Swedish source that retains wealth information from tax registers. The …

period of almost 40 years. The main data limitation is non-observability of wealth for those below the tax exemption level …

Since the early nineties, the Dutch tax system allows for a tax-favored form of risk free savings through employer …-sponsored savings plans (ESSPs). Under some conditions and up to a certain amount, the contributions to this planare tax-deductible, and … the returns as well as the withdrawals are tax-free. This makes these plans extremelyattractive, with real after-tax …