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Financial Literacy and Retirement Planning in Germany
Bucher-Koenen, Tabea - 2011
We examine financial literacy in Germany using data from the SAVE survey. We find that knowledge of basic financial concepts is lacking among women, the less educated, and those living in East Germany. In particular, those with low education and low income in East Germany have little financial...
Persistent link: https://www.econbiz.de/10013123985
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Active vs. Passive Decisions and Crowdout in Retirement Savings Accounts : Evidence from Denmark
Chetty, Raj - 2013
Using 41 million observations on savings for the population of Denmark, we show that the impacts of retirement savings … policies on wealth accumulation depend on whether they change savings rates by active or passive choice. Subsidies for … retirement accounts, which rely upon individuals to take an action to raise savings, primarily induce individuals to shift assets …
Persistent link: https://www.econbiz.de/10013088874
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Pension Funding, Share Prices, and National Saving
Feldstein, Martin S. - 2004
and an incentive to save more themselves. For this reason, unfunded private pensions differ fundamentally from the … unfunded Social Security pension and the other unfunded federal government civilian and military pensions …
Persistent link: https://www.econbiz.de/10012786263
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Personal Accounts and Family Retirement
Gustman, Alan L.; Steinmeier, Thomas L. - 2021
This paper constructs a model of retirement and saving by two earner couples. The model includes three dimensions of behavior: the joint determination of retirement and saving; heterogeneity in time preference; and the interdependence of retirement decisions of husbands and wives. Estimation is...
Persistent link: https://www.econbiz.de/10013244905
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Do Savings Increase in Response to Salient Information About Retirement and Expected Pensions?
Dolls, Mathias - 2016
How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … change the level of pensions, but only manipulated the knowledge about and salience of expected pension payments. Using … on private retirement savings. Our results show that the letters increase private retirement savings. The effects are …
Persistent link: https://www.econbiz.de/10012982037
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Check in the Mail or More in the Paycheck : Does the Effectiveness of Fiscal Stimulus Depend on How it is Delivered?
Sahm, Claudia - 2010
Recent fiscal policies, including the 2008 stimulus payments and the 2009 Making Work Pay tax credit, aimed to increase household spending. This paper quantifies the spending response to these policies and examines differences in spending by whether the stimulus was delivered as a one-time...
Persistent link: https://www.econbiz.de/10013139740
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Defying Gravity : How Long Will Japanese Government Bond Prices Remain High?
Hoshi, Takeo - 2012
Recent academic papers have shown that the Japanese sovereign debt situation is not sustainable. The puzzle is that the bond rate has remained low and stable. Some suggest that the low yield can be explained by domestic residents' willingness to hold Japanese government bonds (JGBs) despite its...
Persistent link: https://www.econbiz.de/10013102193
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Riester Pensions in Germany : Design, Dynamics, Targetting Success and Crowding-In
Börsch-Supan, Axel H. - 2012
than occupational pensions and unsubsidized private pension plans. Riester pension savings totaled €9.4bn in 2010 with an …Riester pensions are voluntary, but heavily subsidized private pension schemes in Germany. They were designed as a … generosity of the public pay-as-you-go pensions in response to population aging. This paper investigates how the uptake of the …
Persistent link: https://www.econbiz.de/10013107222
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Saving and the Long Shadow of Macroeconomic Shocks
Aizenman, Joshua - 2013
The global crisis of 2008 raises many questions regarding the long‐term response to crises. We know that households that lost access to credit, for example, were forced to adjust and increase saving. But, will households keep on saving more than they would have done otherwise had the global...
Persistent link: https://www.econbiz.de/10013081508
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Crowding Out Redefined : The Role of Reserve Accumulation
Reinhart, Carmen - 2013
It is well understood that investment serves as a shock absorber at the time of crisis. The duration of the drag on investment, however, is perplexing. For the nine Asian economies we focus on in this study, average investment/GDP is about 6 percentage points lower during 1998-2012 than its...
Persistent link: https://www.econbiz.de/10013072866