Showing 1 - 10 of 728
The permanent income hypothesis implies that people save because they rationally expect their labor income to decline; they save "for a rainy day". It follows that saving should be at least as good a predictor of declines in labor income as any other forecast that can be constructed from publicly...
Persistent link: https://www.econbiz.de/10013224398
We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the impact of that system on Japan's household saving rate and obtain the following results: first, the age structure of Japan's population can explain the level of, and past and...
Persistent link: https://www.econbiz.de/10012776458
Retirement savings decisions should depend on expectations of Social Security retirement income. Persons may be … savings …
Persistent link: https://www.econbiz.de/10012787376
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
optimal savings and therefore the level of unintended bequests. While those bequests may have no value to the retirees, they …
Persistent link: https://www.econbiz.de/10012762759
a simple life cycle explanation for savings. They also raise questions about whether pensions are fundamentally a tax … and Retirement Study (HRS), and the role of pensions in forming retirement wealth. Pension coverage is widespread … those with pensions than for those without pensions. Multivariate regressions relating total wealth to pension coverage and …
Persistent link: https://www.econbiz.de/10013210559
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
Wealth inequality in the US is high and rising, but Social Security is generally not considered in those wealth measures. Social Security Wealth (SSW) is the present value of future benefits that an individual will receive less the present value of future taxes they will pay. When an individual...
Persistent link: https://www.econbiz.de/10013307600
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
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