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Optimal default policies in defined contribution pension plans when employees are biased

Ivanov, Asen - 2018

This paper analyses a model in which employees are biased in their perception of their optimal contribution rates or asset allocations in defined contribution pension plans. The optimal default is characterised as a function of the parameters. It is shown that, for some values of the parameters,...

Persistent link: https://www.econbiz.de/10011845817

Households' risk perceptions, overplacement, and financial literacy

Bucher-Koenen, Tabea; Fessler, Pirmin; Silgoner, Maria … - 2024

Household financial resilience is related to the availability of financial resources but also to the ability to anticipate and assess future situations and prepare for them accordingly. Overplacement describes the tendency of individuals to rate themselves better than others, i.e. they believe...

Persistent link: https://www.econbiz.de/10015075031

Motivated saving : the impact of projections on retirement contributions

Smyrnis, George; Bateman, Hazel; Dobrescu, Loretti Isabella - 2021

Persistent link: https://www.econbiz.de/10012818586

The impact of Covid-19 on pensions due to early withdrawals of pension savings

Castro, Rubén; González, Leonardo; Schiappacasse, Ignacio - 2022

The Chilean pension system was hit hard during 2020-2021 by the withdrawal of 25 per cent of the individual pensions … pensions, including its heterogeneity matrix to simulate the distribution of pension impacts. The withdrawal impact decreases … percent and 37 percent for males and females' new self-financed pensions around the year 2022, which goes to about 56 percent …

Persistent link: https://www.econbiz.de/10014494309

Gender aspects of the households' saving behavior in the Kyrgyz Republic

Muktarbek, Akylai kyzy - 2016

Persistent link: https://www.econbiz.de/10012019405

A fistful of dollars : financial incentives, peer information, and retirement savings

Bauer, Rob; Eberhardt, Inka; Smeets, Paul - 2021

Persistent link: https://www.econbiz.de/10012616195

Saving rate dynamics in the neoclassical growth model : hyperbolic discounting and observational equivalence

Farzin, Hossein; Wendner, Ronald - 2013

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition path of a country's saving rate exhibits a rising or non-monotonic pattern. In important...

Persistent link: https://www.econbiz.de/10009756310

The time path of the saving rate : hyperbolic discounting and short-term planning

Farzin, Yeganeh Hossein; Wendner, Ronald - 2014

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition paths of most countries' saving rates exhibit a statistically significant hump-shaped...

Persistent link: https://www.econbiz.de/10010373737

A comparison of saving rates : micro evidence from seventeen Latin American and Caribbean countries

Gandelman, Néstor - 2015

Using micro data on expenditure and income for 17 Latin American and Caribbean (LAC) countries, this paper presents stylized facts on saving behavior by age, education, income and place of residence. Counterfactual saving rates are computed by imposing the saving behavior, the population...

Persistent link: https://www.econbiz.de/10011316663

The impact of school-based financial education on high school students and their teachers : experimental evidence from Peru

Frisancho Robles, Verónica - 2018

Using data from a randomized controlled trial in 300 public high schools in Peru, this paper studies the potential of school-based financial education programs for youth. The intervention improves students’ and teachers’ financial knowledge by 0.14 SD and 0.32 SD, respectively. The impact of...

Persistent link: https://www.econbiz.de/10011882060