We study optimal labor and savings distortions in a lifecycle model with idiosyncratic shocks. We show a tight …-based expressions for the dynamic optimal distortions. We derive a generalization of a savings distortion for non-separable preferences …

Microdata studies of household saving often find a significant group in the population with virtually no wealth … against the life-cycle model of saving. This paper argues that a life-cycle model can replicate observed patterns in household …

Building on Gokhale, Kotlikoff, and Sluchynsky's (2002) study of Americans' incentives to work full or part time, this … accounts. In seeking to provide the most comprehensive analysis to date of fiscal incentives, the paper incorporates federal …

the prediction of the national savings rate of Korea for the next several decades, we employ a life-cycle model, which … that the rapid population aging and long-term budgetary imbalance will substantially lower the national savings rate in … introduction of reverse annuity mortgage is likely to further decrease the savings rate in the future …

limits bind those older middle-income households who started their pension savings programs late in life, those who plan to … stylized household earning $50,000, consistently contributing 10 percent of salary to a DC plans that earns a 4 percent real …