In many countries, saving in a private pension is tax-advantaged to encourage saving for retirement; however, there is mixed evidence on the extent to which this increases saving. This paper estimates the responsiveness of private pension saving to tax incentives for employees in England and...

"This paper studies strategic asset allocation and consumption choice in the presence of regime switching in asset returns. We find evidence that four separate regimes - characterized as crash, slow growth, bull and recovery states - are required to capture the joint distribution of stock and...