Narrow search
Showing 1 - 10 of 6,872
Cover Image
Precautionary Saving and Social Insurance
Hubbard, R. Glenn - 2011
Microdata studies of household saving often find a significant group in the population with virtually no wealth, raising concerns about heterogeneity in motives for saving. In particular, this heterogeneity has been interpreted as evidence against the life-cycle model of saving. This paper...
Persistent link: https://www.econbiz.de/10013118750
Cover Image
Why Do the Rich Save so Much?
Carroll, Christopher D. - 2008
This paper considers several alternative explanations for the fact that households with higher levels of lifetime income ( the rich') have higher lifetime saving rates (Dynan, Skinner, and Zeldes (1996); Lillard and Karoly (1997)). The paper argues that the saving behavior of the richest...
Persistent link: https://www.econbiz.de/10012774892
Cover Image
Optimal Life-Cycle Investing with Flexible Labor Supply : A Welfare Analysis of Life-Cycle Funds
Gomes, Francisco - 2010
We investigate optimal consumption, asset accumulation and portfolio decisions in a realistically calibrated life-cycle model with flexible labor supply. Our framework allows for wage rate uncertainly, variable labor supply, social security benefits and portfolio choice over safe bonds and risky...
Persistent link: https://www.econbiz.de/10012759350
Cover Image
How Persistent Low Expected Returns Alter Optimal Life Cycle Saving, Investment, and Retirement Behavior
Horneff, Vanya - 2018
optimally devote more of their savings to non-retirement accounts and less to 401(k) accounts, since the relative appeal of …
Persistent link: https://www.econbiz.de/10012917320
Cover Image
Longevity and Life Cycle Savings
Bloom, David E.; Canning, David; Graham, Bryan S. - 2021
, increases in longevity lead to higher savings rates at every age, even when retirement is endogenous. In a stable population … these higher savings rates are offset by increased old age dependency, but during the disequilibrium phase, when longevity … is rising, the effect on aggregate savings rates can be substantial. Our results explain the boom in savings in East Asia …
Persistent link: https://www.econbiz.de/10013218082
Cover Image
Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis
Carroll, Christopher D. - 2021
This paper argues that the typical household's saving is better described by a "bufferstock" version than by the traditional version of the Life Cycle/Permanent Income Hypothesis (LC/PIH) model. Buffer-stock behavior emerges if consumers with important income uncertainty are sufficiently...
Persistent link: https://www.econbiz.de/10013231421
Cover Image
Unemployment Insurance and Precautionary Saving
Engen, Eric M.; Gruber, Jonathan - 2022
We consider both theoretically and empirically the effect of unemployment insurance (UI) on precautionary savings … that UI crowds out up to one-half of private savings for the typical unemployment spell. We also find that this effect is …
Persistent link: https://www.econbiz.de/10013322119
Cover Image
The Importance of Precautionary Motives in Explaining Individual and Aggregate Saving
Hubbard, R. Glenn; Skinner, Jonathan S.; Zeldes, Stephen P. - 2022
This paper examines predictions of a life-cycle simulation model -- in which individuals face uncertainty regarding their length of life, earnings, and out-of-pocket medical expenditures, and imperfect insurance and lending markets -- for individual and aggregate wealth accumulation. Relative to...
Persistent link: https://www.econbiz.de/10013322304
Cover Image
Taxation and Saving
Bernheim, B. Douglas - 2022
In this survey, I summarize and evaluate the extant literature concerning taxation and personal saving. I describe the theoretical models that economists have used to depict saving decisions, and I explore the positive and normative implications of these models. The central positive question is...
Persistent link: https://www.econbiz.de/10013323998
Cover Image
The Effect of Improvements in Health and Longevity on Optimal Retirement and Saving
Bloom, David E.; Canning, David; Moore, Michael - 2021
We develop a life-cycle model of optimal retirement and savings behavior under complete markets where retirement is … proportionately, while, contrary to conventional views, reducing savings rates. The retirement age is not simply proportional to … retirement) and higher consumption (lower savings) …
Persistent link: https://www.econbiz.de/10013230221