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Wealth Accumulation and the Propensity to Plan
Ameriks, John; Caplin, Andrew; Leahy, John V. - 2021
Why do similar households end up with very different levels of wealth? We show that differences in the attitudes and skills with which they approach financial planning are a significant factor. We use new and unique survey data to assess these differences and to measure each household's...
Persistent link: https://www.econbiz.de/10013227735
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Individual Financial Decisions in Retirement Saving Plans and the Provision of Resources for Retirement
Poterba, James M. - 2000
Proposals for mandatory private saving accounts differ in the degree of investment discretion that they provide to individual savers, and in their provisions for annuitization of accumulated assets. With respect to investment choices, some argue that individuals must be prevented from investing...
Persistent link: https://www.econbiz.de/10012789302
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How Much to Save? Decision Costs and Retirement Plan Participation
Goldin, Jacob; Homonoff, Tatiana Alexandra; Patterson, … - 2022
Deciding how much to save for retirement can be complicated. Drawing on a field experiment conducted with the Department of Defense, we study whether such complexity depresses participation in an employer-sponsored retirement saving plan. We find that simplifying one dimension of the enrollment...
Persistent link: https://www.econbiz.de/10013290384
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How Financial Literacy and Impatience Shape Retirement Wealth and Investment Behaviors
Hastings, Justine S. - 2011
Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people are financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could...
Persistent link: https://www.econbiz.de/10013130966
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Financial Literacy, Retirement Planning, and Household Wealth
van Rooij, Maarten - 2011
savings plan has been shown to boost wealth. Overall, financial literacy, both directly and indirectly, is found to have a …
Persistent link: https://www.econbiz.de/10013121050
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Financial Literacy, Retirement Preparation and Pension Expectations in the Netherlands
Alessie, Rob J. M. - 2011
We present new evidence on financial literacy and retirement preparation in the Netherlands based on two surveys conducted before and after the onset of the financial crisis. We document that while financial knowledge did not increase from 2005 to 2010, significantly more individuals planned for...
Persistent link: https://www.econbiz.de/10013124236
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The Size and Composition of Wealth Holdings in the United States, Italy, and the Netherlands
Kapteyn, Arie; Panis, Constantijn - 2021
This paper analyzes retirement saving and portfolio choice in the United States, Italy, and the Netherlands. While these countries enjoy roughly the same standard of living, they vary widely in their institutional organization of retirement income provisions. Building on extensions of the life...
Persistent link: https://www.econbiz.de/10013230997
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Identifying the Benefits from Home Ownership : A Swedish Experiment
Sodini, Paolo - 2016
This paper studies the economic benefits of home ownership. Exploiting a quasi-experiment surrounding privatization decisions of municipally-owned apartment buildings, we obtain random variation in home ownership for otherwise similar buildings with similar tenants. We link the tenants to their...
Persistent link: https://www.econbiz.de/10012978099
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What are the Headwaters of Formal Savings? Experimental Evidence from Sri Lanka
Callen, Michael - 2014
The world's poor are seeing a rapid expansion in access to formal savings accounts. What is the source of savings when … each week. We find that the headwaters of formal savings lie in sacrificed leisure time: households work more, and improved … savings options generate an increase in labor effort in both self-employment and in the wage market. The results suggest that …
Persistent link: https://www.econbiz.de/10013040526
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Demographic Patterns and Household Saving in China
Curtis, Chadwick - 2011
This paper studies the effect that changing demographic patterns have had on the household saving rate in China. We undertake a quantitative investigation using an overlapping generations (OLG) model where agents live for 85 years. Consumers begin to exercise decision making when they are 18....
Persistent link: https://www.econbiz.de/10013129127