Showing 1 - 10 of 50
Parameter learning strongly amplifies the impact of macro shocks on marginal utility when the representative agent has a preference for early resolution of uncertainty. This occurs as rational belief updating generates subjective long-run consumption risks. We consider general equilibrium models...
Persistent link: https://www.econbiz.de/10013089576
empirical evidence that individuals are indeed aware of longevity risk and that this awareness affects their savings decisions …. These results are based on a data set that matches subjective survival expectations and savings indicators from the Survey …
Persistent link: https://www.econbiz.de/10013132531
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 …
Persistent link: https://www.econbiz.de/10013134869
implicit differential taxation of savings motives and the mandatory annuitization of withdrawals after retirement. The … simulations performed for the German economy indicate that the differential taxation of savings motives has only modest efficiency …
Persistent link: https://www.econbiz.de/10013136103
expenditure. We find support for these predictions in three field experiments that randomly assign reminders to new savings …
Persistent link: https://www.econbiz.de/10013139657
the impact of uncertainty about one's savings adequacy on retirement savings contributions and information search. We … retirement savings contributions. Accordingly, our results show that the effect of uncertainty is moderated by two factors: an … individual's perceived adequacy of current savings and financial constraints. In particular, we find that uncertainty triggers …
Persistent link: https://www.econbiz.de/10013117238
directly translate in additional retirement savings. We show that the annuity stream generated by conventional and … unconventional accounts from age 65 onwards is small and that most savings are residual and are not being put aside for a specific … motive. Also self-employed retirement savings are low, even though this group has generally no occupational pension …
Persistent link: https://www.econbiz.de/10013117290
savings. The third wave of the Survey of Health, Ageing and Retirement in Europe, SHARELIFE, collects information on the …
Persistent link: https://www.econbiz.de/10013118948
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/10013120915
concerns for retirement savings. We solve a life-cyclemodel with longevity risk, which can be hedged through endogenous saving …
Persistent link: https://www.econbiz.de/10013122366