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Pension Plan Characteristics and Framing Effectsin Employee Savings Behavior
Card, David; Ransom, Michael R. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
In this paper we document the importance of framing effects in the retirement savingsdecisions of college professors. Pensions in many post-secondary institutions are funded bya combination of an employer contribution and a mandatory employee contribution.Employees can also make tax-deferred...
Persistent link: https://www.econbiz.de/10005862561
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Individual Welfare Gains fromDeferred Life-Annuitiesunder Stochastic Lee-CarterMortality
Post, Thomas - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2009
A deferred annuity typically includes an option-like right for thepolicyholder. At the end of the deferment period, he … may either choose toreceive annuity payouts, calculated based on a mortality table agreed to atcontract inception, or … annuity on the marketgranting him a better price. If, however, mortality improves more thanexpected, the policyholder will …
Persistent link: https://www.econbiz.de/10008939781
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RETIREMENT, PENSIONS, AND AGEING
HEIJDRA BEN J.; ROMP WARD E. - CESifo GmbH <München> - 2007
We study the effects of demographic shocks and changes in the pension system on themacroeconomic performance of an advanced small open economy. An overlappinggenerationsmodel is constructed which includes a realistic description of the mortalityprocess. Individual agents choose their optimal...
Persistent link: https://www.econbiz.de/10005858940
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Private Wealth and Job Exit at Older Age : A Random Effects Model
Bloemen, Hans - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2008
Private wealth holdings are likely to become an increasingly important determinant in the jobexit decision of elderly workers. Net wealth may correlate with worker’s characteristics thatalso determine the exit out of a job. It is therefore important to include a rich set of...
Persistent link: https://www.econbiz.de/10005860472
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Anomalies in Intertemporal Choice?
Gerber, Anke; Rohde, Kirsten I. M. - Institut für Schweizerisches Bankwesen <Zürich> - 2007
This paper argues that observations of non-stationary choice behavior need notnecessarily imply specific properties of the individual’s discount function. As weshow, the observed “anomalies” in intertemporal choice can alternatively be explained by an individual’s perception of the risk...
Persistent link: https://www.econbiz.de/10005858206
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The structure of optimal consumption streams ingeneral incomplete markets
Malamud, Semyon; Trubowitz, Eugene - Swiss National Centre of Competence in Research North … - 2008
We prove that for any incomplete market and any concave utilityfunction the marginal propensities to consume and to save are alwayspositive. Furthermore, we introduce a class of incomplete markets thatincludes almost all well known examples of market incompleteness infinance and macroeconomics....
Persistent link: https://www.econbiz.de/10005869069
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Hours of Work and Retirement Behavior
Machado, C. Sofia; Portela, Miguel - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2012
Using a novel dataset from the 2006 Portuguese Labor Force Survey this paper examinesthe impact of a voluntary reduction in hours of work, before retirement, on the moment of exitfrom the labor force. If, as often suggested, flexibility in hours of work is a useful measure topostpone retirement,...
Persistent link: https://www.econbiz.de/10009486882
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Pension Policy in EU25 and its Possible Impact on ElderlyPoverty
Zaidi, Asghar; Grech, Aaron George; Fuchs, Michael - London School of Economics and Political Science - 2006
This paper reviews changes in pension policies in EU countries between 1995 and2005 and describes how they might affect risk of poverty for future pensionerpopulations. The pension landscape in Europe has changed considerably in the pastdecade and the paper highlights commonalities as well as...
Persistent link: https://www.econbiz.de/10009354013
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Transition from work to retirement in EU25
Zaidi, Asghar; Makovec, Mattia; Fuchs, Michael - London School of Economics and Political Science - 2006
The policy agenda of extending working lives requires a holistic understandingof factors underlying the decision of older workers to withdraw from work andto retire. This brief paper presents employment patterns and trends of olderpeople across EU Member States and identifies policy initiatives...
Persistent link: https://www.econbiz.de/10009354017
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Income Support Systems, Labor Market Policiesand Labor Supply: The German Experience
Caliendo, Marco - Institut zur Zukunft der Arbeit <Bonn> - 2009
In view of the demographic trends, most EU countries face the problem of a declining workforce in the future. Understanding the interaction between income support systems (such asunemployment benefits, social assistance, early retirement and pension systems) and totallabor supply is of crucial...
Persistent link: https://www.econbiz.de/10009360609