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Maccuish, Jamie Hentall - 2019

paper researches these puzzles in the context of the ongoing reform to the UK female state pension age …

Persistent link: https://www.econbiz.de/10012889516

Household portfolios and financial preparedness for retirement

Crawford, Rowena; O'Dea, Cormac - In: Quantitative economics : QE ; journal of the … 11 (2020) 2, pp. 637-670

Using a lifecycle model of consumption, saving and portfolio choice combined with linked survey and administrative data on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount factors for households and compare these estimates of their...

Persistent link: https://www.econbiz.de/10012213993

Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth

Lusardi, Annamaria; Mitchell, Olivia S. - 2006

We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though … Boomers rely more on housing equity than their predecessors. Most important, planners in both cohorts arrive close to …

Persistent link: https://www.econbiz.de/10010298334

Richer earnings dynamics, consumption and portfolio choice over the life cycle

Gálvez, Julio; Paz Pardo, Gonzalo - 2022

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that, in …

Persistent link: https://www.econbiz.de/10014236105

How much do means-tested benefits reduce the demand for annuities?

Bütler, Monika; Peijnenburg, Kim; Staubli, Stefan - 2013

subsistence level consumption floor in old age, usually in the form of means-tested benefits. The availability of such means …

Persistent link: https://www.econbiz.de/10011345857

Life-Cycle Asset Allocation with Ambiguity Aversion and Learning

Peijnenburg, Kim - 2016

Ambiguity and learning about the equity premium can simultaneously explain the low fraction of financial wealth allocated to stocks over the life cycle and the stock market participation puzzle. Individuals are ambiguous about the size of the equity premium and are averse to this ambiguity,...

Persistent link: https://www.econbiz.de/10013008689

Richer earnings dynamics, consumption and portfolio choice over the life cycle

Gálvez, Julio; Paz Pardo, Gonzalo - 2023

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that …

Persistent link: https://www.econbiz.de/10014278693

Richer Earnings Dynamics, Consumption and Portfolio Choice Over the Life Cycle

Gálvez, Julio; Paz Pardo, Gonzalo - 2023

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that …

Persistent link: https://www.econbiz.de/10014348942

Overconfidence in Financial Markets and Consumption Over the Life Cycle

Caliendo, Frank; Huang, Kevin X. D. - 2019

work life. Their calibrated model produces a hump-shaped work-life consumption profile with both the age and the amplitude …

Persistent link: https://www.econbiz.de/10014053032

Saving rates and portfolio choice with subsistence consumption

Achury, Carolina; Hubar, Sylwia; Koulovatianos, Christos - 2011

We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining: (i) the higher saving rates of the rich, (ii) the...

Persistent link: https://www.econbiz.de/10010308579