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to evaluate the adequacy of retirement savings. We find first that the specification of the model's asset structure … higher-return tax-advantaged private pensions and in housing. Second, we find that only the most patient households achieve …
Persistent link: https://www.econbiz.de/10012215428
There are two stylised facts, namely weak demand for life-annuities and flat age-wealth profile that contradict the life-cycle hypothesis. In this paper we design a theoretical framework, which combines plausible arguments, which have been put forward in the literature to reconcile theory with...
Persistent link: https://www.econbiz.de/10010294565
Much of the focus of the UK pensions policy debate over the past decade has been on the adequacy (or otherwise) of …
Persistent link: https://www.econbiz.de/10011335622
increase of the retirement age improves budget balance and total savings, while the introduction of the fully funded pensions …This paper deals with pension reform’s effect on Latvian savings. We are studying the reaction of total savings and … private savings, fully funded savings and government budget balance over the next 10 years. Model’s simulations show that the …
Persistent link: https://www.econbiz.de/10005245135
This paper investigates the household saving behavior by different cohorts with various household characteristics in Japan. Pooling the National Survey of Family Income and Expenditure in 1984, 1989 and 1994, the cohort analysis finds a substantial behavioral difference in the baby-boomer...
Persistent link: https://www.econbiz.de/10005018395
There are two stylised facts, namely weak demand for life-annuities and flat age-wealth profile that contradict the life-cycle hypothesis. In this paper we design a theoretical framework, which combines plausible arguments, which have been put forward in the literature to reconcile theory with...
Persistent link: https://www.econbiz.de/10005800672
In OLG framework, it is generally admitted that PAYG pension system generates a lower capital accumulation, a higher level of interest rate but is more inequality reducing. By taking into account different assets returns and unequal access to them, we find that the PAYG pension system generates...
Persistent link: https://www.econbiz.de/10005696858
and household level as well as at the macroeconomic level. Growing individual consciousness is manifested in savings …
Persistent link: https://www.econbiz.de/10011122505
This paper examines the choice of pension scheme and job mobility in Britain. Workers in Britain can choose to belong wholly to the social security (public pension) programme, or to a company-provided plan (occupational pension), or to purchase their own individual pension. We use household...
Persistent link: https://www.econbiz.de/10010293043
studies. We use aunique panel data set on household savings. We find that that a higher unemploymentexpectation significantly … decreases savings. However, we are not able to identify asignificant relationship between general future income expectations and … savings. Moreover,we find that good health expectations increase savings in Western Germany, butdecrease the savings in …
Persistent link: https://www.econbiz.de/10010312155