When it comes to estimating the benefits of long-term savings, many people rely on their intuition. Focusing on the … domain of retirement savings, we use a randomized experiment to explore people's intuition about how money accumulates over … time. We ask half of our sample to estimate future consumption given savings (the forward perspective). The other half of …

savings. The third wave of the Survey of Health, Ageing and Retirement in Europe, SHARELIFE, collects information on the … show the ability of the retrospective survey to generate cross-country differences in wages and pensions which are in line …

I study the relationship between household saving and pensions, and estimate both the displacement effect of pensions …, the consumption function depends on expected pension benefits and pension risk. I estimate the savings equation implied by …. Exploiting exogenous variation due to pension fund performance, I show that savings decrease significantly with expected pension …

total household savings for renters. The effect is identified via a large panel of individual administrative records …. We find little substitutability between current mandatory labour market pension savings and private voluntary savings …. Each euro paid into mandatory labour market pension accounts results in a reduction in private savings of approximately 0 …

savings plan has been shown to boost wealth. Overall, financial literacy, both directly and indirectly, is found to have a …

expected to hold less precautionary savings …

We quantified the relative importance of the precautionary motive in determining savings. Existing empirical evidence … suggests that the impact of precautionary savings is small if one uses a subjective measure of uncertainty about next year … variation. These studies find a large impact of precautionary savings. These contradictory results may be either suggestive of …