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Can Low Retirement Savings Be Rationalized?

Shoven, John B. - 2020

Simple presentations of the life cycle model often suggest a constant level of real consumption in retirement. Similarly, financial planners commonly suggest that people save for retirement in such a way as to enable them to maintain a level retirement standard of living equal to their standard...

Persistent link: https://www.econbiz.de/10012840371

Demographic Change, Social Security Systems, and Savings

Bloom, David E. - 2010

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 …

Persistent link: https://www.econbiz.de/10012760611

Pension Funding and Saving

Bernheim, B. Douglas; Shoven, John B. - 2021

elasticity for such an important source of loanable funds in the economy suggests that the pensions funding mechanism should be …

Persistent link: https://www.econbiz.de/10013224409

The Consequences of Population Aging on Private Pension Fund Saving and Asset Markets

Schieber, Sylvester J.; Shoven, John B. - 2021

This paper examines the impact of the aging demographic structure of the U.S. on its funded private pension system. A 75-year outlook is produced for the pension system corresponding to the 75-year forecast of the Social Security system. The primary result is that the pension system will cease...

Persistent link: https://www.econbiz.de/10013235879

The Impact of Annuity Insurance on Savings and Inequality

Kotlikoff, Laurence J.; Shoven, John B.; Spivak, Avia - 2021

This is the first paper to document the effect of health on the migration propensities of African Americans in the American past. Using both IPUMS and the Colored Troops Sample of the Civil War Union Army Data, I estimate the effects of literacy and health on the migration propensities of...

Persistent link: https://www.econbiz.de/10013230210

When Does it Pay to Delay Social Security? The Impact of Mortality, Interest Rates, and Program Rules

Shoven, John B. - 2013

Social Security benefits may be commenced at any time between ages 62 and 70. As individuals who claim later can, on average, expect to receive benefits for a shorter period, an actuarial adjustment is made to the monthly benefit to reflect the age at which benefits are claimed. In earlier work...

Persistent link: https://www.econbiz.de/10013090660

The Taxation of Pensions : A Shelter Can Become a Trap

Shoven, John B. - 2008

Pensions are widely thought to be attractive tax shelters which encourage saving for retirement. They allow people to … rates. The paper presents a comprehensive examination of the taxation of pensions and discusses the optimal responses of …

Persistent link: https://www.econbiz.de/10012774967

A Theory of Retirement

Bloom, David E. - 2007

We construct a life-cycle model in which retirement occurs at the end of life as a result of declining health. We show that improvements in life expectancy, coupled with a delay in the onset of disability, increases both the optimal consumption level and the proportion of life spent in leisure....

Persistent link: https://www.econbiz.de/10012775556

New Age Thinking : Alternative Ways of Measuring Age, Their Relationship to Labor Force Participation, Goverment Policies and GDP

Shoven, John B. - 2007

The current practice of measuring age as years-since-birth, both in common practice and in the law, rather than alternative measures reflecting a person's stage in the lifecycle distorts important behavior such as retirement, saving, and the discussion of dependency ratios. Two alternative...

Persistent link: https://www.econbiz.de/10012775839

Social Security and the Timing of Divorce

Goda, Gopi Shah - 2010

Social Security provides spousal benefits in retirement to secondary workers in married couples based on the primary worker's earnings record. In addition, Social Security pays spousal benefits to divorced secondary workers whose marriages lasted at least ten years. However, if a marriage failed...

Persistent link: https://www.econbiz.de/10012759856