Transaction costs impose a barrier to savings, but lowering them may have smaller impacts than expected due to other … constraints, such as psychological biases. Within the context of retirement savings under defined contributions in the privatized … that access alone has small and weak effects on savings, but including the persuasive message leads to a 10-12% increase in …

themselves have no significant effects on household saving rates in the smallest localities, but in larger localities they may … some age groups. Finally, the paper provides evidence on household-level labor supply responses. …