little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent … retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing … a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in …

defined benefit pensions, designed to reward long tenure, have become steadily less common. This paper uses a contract … of existing jobs relative to new jobs reduces expected match duration and thus the appeal of DB pensions. We show that …

Recent declines in job tenure have coincided with a shift away from traditional defined benefit (DB) pensions, which …-based contracts like DB pensions to reduce the incidence of costly on-the-job search by workers. Reduced search costs can, under … fairly general conditions, lower the value of deterring search and the use of DB pensions …