optimally devote more of their savings to non-retirement accounts and less to 401(k) accounts, since the relative appeal of …

, 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 …

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 …