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Previous research has concluded that prespecified asset allocations used by many Section 529 college savings plans are suboptimal. We extend this research to show that though it may be true, it is true for reasons other than those asserted in previous research. In addition, it tends to deflect...
Persistent link: https://www.econbiz.de/10010397538
Most of the emerging European countries, including Republic of Macedonia, are faced with greater or smaller current account deficits, which raise the concern about their sustainability in the long run. This working paper examines the sustainability of the Macedonian current account deficit using...
Persistent link: https://www.econbiz.de/10011785349
Defined Benefit (DB) pension plans and a sharp rise in Defined Contribution (DC) pensions. Using data from the Federal Reserve …
Persistent link: https://www.econbiz.de/10010266432
A central issue confronting soon-to-retire workers (those aged 4764) is whether they will have command over enough resources (both private and public) to maintain a decent standard of living in retirement. Typically, the adequacy of projected retirement income is judged in relation to some...
Persistent link: https://www.econbiz.de/10010266633
In this paper, we examine whether adult education delays retirement and increases labour force participation among the elderly, a mechanism suggested in the OECD strategy for 'active ageing' and the 'Lisbon strategy' of the EU. Using register data from Sweden, we analyse transcripts from adult...
Persistent link: https://www.econbiz.de/10010273961
Projections show public pensions to take an increasing share of GDP. This has lead to increased activity in the reform …
Persistent link: https://www.econbiz.de/10013208409
Ageing gives rise to concern about the sustainability of pay-as-you-go pension systems. One reform option suggested is to make the system actuarial by a tight connection between contributions and benefits. The incentives for the individual will then coincide with the interest of the pension...
Persistent link: https://www.econbiz.de/10013208467
Education and wealth are positively correlated for individuals approaching retirement, but the direction of the causal relationship is ambiguous in theory and has not been identified in practice. We combine administrative data on individual total wealth with a reform expanding access to lower...
Persistent link: https://www.econbiz.de/10013208789
Due to differences in financial sophistication and agency relationships, we posit that investors use different criteria to select portfolio managers in the retail mutual fund and fiduciary pension fund industry segments. We provide evidence on investors’ manager selection criteria by...
Persistent link: https://www.econbiz.de/10010397665
This paper studies empirically the consequences of retirement on health. We make use of a targeted retirement offer to army employees 55 years of age or older. Before the offer was implemented in the Swedish defense, the normal retirement age was 60 years of age. Estimating the effect of the...
Persistent link: https://www.econbiz.de/10010464457