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administrative data on Social Security, pensions, and retirement plans. Households with high expected future income spend more today …
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myopia may justify public pensions but never alongside positive private savings. With sufficient myopia, co-existence of … positive optimal pensions and positive private saving is possible if the real interest rate on saving evolves endogenously, as … in a model with a neoclassical technology. -- Myopia ; pensions ; social security ; dynamic efficiency …
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Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the household consumed permanently at the poverty line. The...
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pensions can and will play an important role in helping companies induce desired turnover patterns. This paper undertakes a … financial incentives inherent in pensions, so that most of our attention is directed to analysis of financial benefit level …
Persistent link: https://www.econbiz.de/10012777143
pensions can and will play an important role in helping companies induce desired turnover patterns. This paper undertakes a … financial incentives inherent in pensions, so that most of our attention is directed to analysis of financial benefit level …
Persistent link: https://www.econbiz.de/10012475962
The Generalized Method of Moments (GMM) is discussed for handling the joint occurrence of fixed effects and random measurement errors in an autoregressive panel data model. Finite memory of disturbances, latent regressors and measurement errors is assumed. Two specializations of GMM are...
Persistent link: https://www.econbiz.de/10009489019